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Banks Nigerian Investing Ideas
FCMB Group
WA
WaneInvestmentHouse
Community Contributor
FCMB Group projects N36.6bn profit in Q2
FCMB Group has projected a profit after tax of N36.6bn for the second quarter ending June 30, 2025. The group’s earnings forecast shows that gross earnings are expected to reach N239.4bn, with interest income projected at N209.1bn.
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₦10.31
FV
4.9% undervalued
intrinsic discount
10.00%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
2
users have commented on this narrative
13
users have followed this narrative
Updated
narrative
First HoldCo
WA
WaneInvestmentHouse
Community Contributor
First Holdco’s Q1 2025 Profit Declines Amid Weak Non-Interest Income and Rising Costs
First Holdco Plc (formerly FBN Holdings) delivered a disappointing start to 2025, as net profit dropped by 17.9% year-on-year to ₦167.4 billion , primarily due to a 60% collapse in non-interest income , which overshadowed the robust growth recorded in core banking income. Key Performance Highlights: Net Profit: ₦167.4 billion ▼ -17.9% YoY (Q1 2024: ₦208.3 billion) Gross Earnings: ₦729.3 billion ▲ +3.3% YoY Net Interest Income: ₦365.2 billion ▲ +61% YoY Non-Interest Income: ₦104 billion ▼ -60% YoY Operating Expenses: ₦245.3 billion ▲ +16.4% YoY Cost-to-Income Ratio: 52.3% ▲ (up from ~42% prior year estimate) Return on Average Equity (ROAE): 24.2% ▼ (Q1 2024: 44.5%) Return on Average Assets (ROAA): 2.5% ▼ (Q1 2024: 4.2%) Cost of Risk: Improved to 1.7% ▼ (on lower impairment charges) Gross Loans: ₦9.7 trillion ▲ +11.1% YoY Income Mix Breakdown and Strategic Weakness While net interest income jumped by 61% , supported by improved loan yields and balance sheet expansion, the steep decline in non-interest income — from ₦260 billion in Q1 2024 to just ₦104 billion — severely limited earnings expansion , especially in an industry environment where peers are leveraging FX gains and fee-based revenue streams.
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₦32.74
FV
10.6% overvalued
intrinsic discount
0%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
7
users have commented on this narrative
8
users have followed this narrative
Updated
narrative
Ecobank Transnational
WA
WaneInvestmentHouse
Community Contributor
Ecobank Delivers Strong Q2/H1 2025 result
Ecobank Nigeria is undergoing a strategic transformation focused on revenue growth, asset quality improvement, and capital optimization. The strong H1 2025 performance, prudent impairment recognition, and successful deleveraging signal growing operational resilience.
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₦29.23
FV
9.5% overvalued
intrinsic discount
5.43%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
3
users have commented on this narrative
3
users have followed this narrative
Updated
narrative
Jaiz Bank
WA
WaneInvestmentHouse
Community Contributor
Strong Growth and Stable Fundamentals Define Q1 2025 Performance for Jaiz Bank
Jaiz Bank Plc delivered a solid first-quarter performance in 2025, with key profitability and balance sheet metrics showing resilience and growth despite macroeconomic challenges. The bank’s Q1 earnings reaffirm its trajectory toward sustainable value creation driven by non-interest income, growing assets, and stable returns to equity holders.
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₦3.19
FV
23.5% overvalued
intrinsic discount
22.16%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
5
users have commented on this narrative
6
users have followed this narrative
22 days ago
author updated this narrative
Guaranty Trust Holding
WA
WaneInvestmentHouse
Community Contributor
GTCO Delivers Resilient Q1 2025 Earnings Amid Non-Recurring Fair Value Headwinds
Guaranty Trust Holding Company Plc (GTCO) has reaffirmed its status as a leader in the Nigerian financial services sector, reporting a robust ₦300.4 billion profit before tax for the first quarter ended March 31, 2025. The result underscores strong core operating performance despite the absence of the ₦331.6 billion fair value gain that bolstered Q1 2024 earnings.
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₦78.33
FV
20.0% overvalued
intrinsic discount
0%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
4
users have commented on this narrative
11
users have followed this narrative
22 days ago
author updated this narrative
Wema Bank
WA
WaneInvestmentHouse
Community Contributor
Wema Bank Delivers Robust Q1 2025 Earnings with 270% YoY Profit Growth
Wema Bank Plc has kicked off 2025 with impressive momentum , reporting a profit before tax (PBT) of ₦41.16 billion for Q1 2025—a remarkable 269% increase from the ₦11.15 billion recorded in Q1 2024. The result reflects the bank’s ongoing transformation and earnings resilience despite macroeconomic pressures.
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₦11.47
FV
73.5% overvalued
intrinsic discount
0%
Revenue growth p.a.
Set Fair Value
1
users have liked this narrative
3
users have commented on this narrative
12
users have followed this narrative
28 days ago
author updated this narrative
Sterling Financial Holdings
WA
WaneInvestmentHouse
Community Contributor
Sterling Financial Delivers Strong Q1 2025 Earnings, Doubles Profit on Solid Interest Income Growth
Sterling Financial Holdings Company Plc posted a robust first-quarter performance in 2025, with profit after tax soaring to N17.2 billion , a 129% increase from N7.5 billion in Q1 2024. The significant earnings growth reflects strong core banking operations, supported by rising interest and non-interest income streams.
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₦6.37
FV
3.6% overvalued
intrinsic discount
82.05%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
0
users have commented on this narrative
5
users have followed this narrative
about 1 month ago
author updated this narrative
United Bank for Africa
WA
WaneInvestmentHouse
Community Contributor
UBA Delivers Solid Q1 2025 Results Amid Rising Costs—Strong Core, Strategic Rebalancing
United Bank for Africa (UBA) kicked off 2025 with a 30.65% jump in pre-tax profit to ₦204.27 billion and a 33.15% rise in net profit to ₦189.84 billion , underlining the strength of its core banking operations and resilient income streams despite intensifying cost pressures. Key Highlights (Q1 2025 vs.
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₦40.92
FV
14.9% overvalued
intrinsic discount
16.61%
Revenue growth p.a.
Set Fair Value
1
users have liked this narrative
4
users have commented on this narrative
6
users have followed this narrative
about 1 month ago
author updated this narrative
Access Holdings
WA
WaneInvestmentHouse
Community Contributor
Access Holdings Delivers Resilient Q1 2025 Earnings Despite Margin Pressure
Access Holdings posted a pre-tax profit of ₦222.78 billion in Q1 2025, up 9.89% year-on-year , demonstrating a resilient bottom line amid a turbulent cost environment and margin compression. This performance was powered largely by robust non-interest income , offsetting the steep erosion in net interest margins.
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₦28.00
FV
1.1% undervalued
intrinsic discount
65.21%
Revenue growth p.a.
Set Fair Value
0
users have liked this narrative
6
users have commented on this narrative
10
users have followed this narrative
about 2 months ago
author updated this narrative
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