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TBL

Trust BankGHSE:TBL Stock Report

Market Cap

GH₵68.0m

7D

0%

1Y

n/a

Updated

04 Oct, 2021

Data

Company Financials
TBL fundamental analysis
Snowflake Score
Valuation1/6
Future Growth0/6
Past Performance4/6
Financial Health6/6
Dividends3/6

TBL Overview

Trust Bank Limited, together with its subsidiaries, provides retail, corporate, and international banking products and services in the Gambia.

Price History & Performance

Summary of all time highs, changes and price drops for Trust Bank
Historical stock prices
Current Share PriceGH₵0.34
52 Week HighGH₵0
52 Week LowGH₵0
Beta-0.59
1 Month Change0%
3 Month Changen/a
1 Year Changen/a
3 Year Change41.67%
5 Year Change30.77%
Change since IPO397.67%

Recent News & Updates

Shareholder Returns

TBLGH BanksGH Market
7D0%0.04%0.08%
1Yn/a40.8%71.1%

Return vs Industry: Insufficient data to determine how TBL performed against the GH Banks industry.

Return vs Market: Insufficient data to determine how TBL performed against the GH Market.

Price Volatility

Is TBL's price volatile compared to industry and market?
TBL volatility
TBL Beta-0.59
Industry Beta0.58
Market Beta1

Stable Share Price: Insufficient data to determine TBL's volatility over the past 3 months.

Volatility Over Time: Insufficient data to determine TBL's volatility change over the past year.

About the Company

FoundedEmployeesCEOWebsite
1997348Ibrahima Sallahttps://tblgambia.com

Trust Bank Limited, together with its subsidiaries, provides retail, corporate, and international banking products and services in the Gambia. It offers current, savings, and corporate and foreign currency accounts; and fixed deposits. The company also provides loans and advances; overdraft services; and ATM, online and mobile banking, bill payment, exchange rates, real time gross settlement, automated cheque processing/automated clearing house, and other services.

Trust Bank Fundamentals Summary

How do Trust Bank's earnings and revenue compare to its market cap?
TBL fundamental statistics
Market CapD583.21m
Earnings (TTM)D132.29m
Revenue (TTM)D637.31m

4.4x

P/E Ratio

0.7x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
TBL income statement (TTM)
RevenueD637.31m
Cost of RevenueD0
Gross ProfitD637.31m
ExpensesD505.02m
EarningsD132.29m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

n/a

Earnings per share (EPS)0.66
Gross Margin100.00%
Net Profit Margin20.76%
Debt/Equity Ratio0%

How did TBL perform over the long term?

See historical performance and comparison

Dividends

13.7%

Current Dividend Yield

61%

Payout Ratio

Valuation

Is Trust Bank undervalued compared to its fair value and its price relative to the market?

4.41x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: TBL (GHS0.34) is trading above our estimate of fair value (GHS0.32)

Significantly Below Fair Value: TBL is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: TBL is poor value based on its PE Ratio (4.4x) compared to the GH Banks industry average (4.1x).

PE vs Market: TBL is good value based on its PE Ratio (4.4x) compared to the GH market (4.8x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate TBL's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: TBL's PB Ratio (0.7x) is in line with the GH Banks industry average.


Future Growth

How is Trust Bank forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

19.3%

Forecasted Banks industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Trust Bank has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Past Performance

How has Trust Bank performed over the past 5 years?

5.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: TBL has high quality earnings.

Growing Profit Margin: TBL's current net profit margins (20.8%) are higher than last year (16.5%).


Past Earnings Growth Analysis

Earnings Trend: TBL's earnings have grown by 5.8% per year over the past 5 years.

Accelerating Growth: TBL's earnings growth over the past year (32.6%) exceeds its 5-year average (5.8% per year).

Earnings vs Industry: TBL earnings growth over the past year (32.6%) underperformed the Banks industry 32.6%.


Return on Equity

High ROE: TBL's Return on Equity (14.9%) is considered low.


Financial Health

How is Trust Bank's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: TBL's Assets to Equity ratio (10.3x) is moderate.

Allowance for Bad Loans: TBL has a sufficient allowance for bad loans (114%).

Low Risk Liabilities: 97% of TBL's liabilities are made up of primarily low risk sources of funding.

Loan Level: TBL has an appropriate level of Loans to Assets ratio (20%).

Low Risk Deposits: TBL's Loans to Deposits ratio (22%) is appropriate.

Level of Bad Loans: TBL has an appropriate level of bad loans (1.3%).


Dividend

What is Trust Bank current dividend yield, its reliability and sustainability?

13.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: TBL's dividend (13.72%) is higher than the bottom 25% of dividend payers in the GH market (4.79%).

High Dividend: TBL's dividend (13.72%) is in the top 25% of dividend payers in the GH market (8.27%)


Stability and Growth of Payments

Stable Dividend: TBL has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: TBL has only been paying a dividend for 6 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (61.1%), TBL's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.3yrs

Average management tenure


CEO

Ibrahima Salla (59 yo)

5.25yrs

Tenure

Mr. Ibrahima Salla has been Managing Director of Trust Bank Ltd. since July 1, 2016 and also serves as its Executive Director and Chief Executive Officer. Mr. Salla served as General Manager of Corporate D...


Leadership Team

Experienced Management: TBL's management team is considered experienced (4.3 years average tenure).


Board Members

Experienced Board: TBL's board of directors are considered experienced (4.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Trust Bank Limited's employee growth, exchange listings and data sources


Key Information

  • Name: Trust Bank Limited
  • Ticker: TBL
  • Exchange: GHSE
  • Founded: 1997
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: GH₵68.000m
  • Shares outstanding: 200.00m
  • Website: https://tblgambia.com

Number of Employees


Location

  • Trust Bank Limited
  • 3/4 Ecowas Avenue
  • PO Box 1018
  • Banjul
  • Gambia

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/04 17:04
End of Day Share Price2021/07/07 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.