Stanbic Holdings #ticker:SBIC has reported a 18.6 per cent drop in its full-year to December 2020 net profit on subdued interest income and higher loan provisions as Covid-19 pandemic hit the economy. The Nairobi Securities Exchange-listed lender made Sh5.19 billion last year down from Sh6.38 billion recorded in 2019. The profit of Stanbic Bank and […]
Despite the disruptions to the economy due to the coronavirus, Dangote Sugar Refinery (DSR) Plc recorded improved results in its 2020 financial year. Details of the audited results ended December 31, 2020, showed that DSR posted a revenue of N214.297 billion, up by 33 per cent to N161 billion in 2019. Production volume rose by […]
The climb may be temporary though. Jim Ovia-led Zenith Bank Plc saw a 34 per cent surge in its asset base in 2020, lifting the value from N6.347 trillion to N8.481 trillion in one year and making it Nigeria’s biggest bank by asset, its audited financial statements showed on Tuesday. The lender, however, could cede […]
Wema Bank Plc yesterday released its unaudited results for the year ended December 31, 2020, showing marginal decline in top and bottom-lines. The financial institution recorded gross earnings of N80.852 billion in 2020, indicating a decrease of 14.7 per cent compared with N94.890 billion in 2019. Net interest income improved by 19.4 per cent to […]
Joseph Olaoluwa The total revenue generated by two of the major oil marketing companies in the country from the sale of aviation fuel plunged by 57.99 per cent in 2020, compared with 2019. Last year, the nation’s airports were closed on March 23, 2020 to stem the spread of the COVID-19 pandemic in the country […]
The Nigerian stock market shed N368 billion last week following profit-taking activities by some investors after the massive gains in January. The market had appreciated by N1.1 trillion in January due to sustained high demand for stocks. However, the bears set in the first week of February as some investors moved in to lock in […]
NSE trading floor. PHOTO: FEMI ADEBESIN-KUTI Expectations of improved corporate earnings, coupled with the outcome of the MPC meeting sustained positive sentiments on the equity sector of the Nigerian Stock Exchange (NSE) last week, as the market hit the N22 trillion mark, and the All-share index and market capitalisation appreciating by 3.442 per cent to […]
Aviation Fuel Terminal Aviation Fuel Revenue Falls By N20.03bn The total revenue generated by two of the major oil marketing companies in the country from the sale of aviation fuel plunged by 57.99 per cent in 2020, compared with 2019. Last year, the nation’s airports were closed on March 23, 2020 to stem the spread […]
NSE trading floor. PHOTO: FEMI ADEBESIN-KUTI Although price gains outweighed losses, transactions on the equity sector of the Nigerian Stock Exchange (NSE) was upbeat yesterday, occasioned by bargain-hunting in some high capital stocks, as market capitalisation appreciated by N45 billion. The All-Share Index (ASI) grew by 86.97 absolute points or 0.21 per cent increase to […]
The market gain was driven by price appreciation in large and medium capitalised stocks [Reuters/Akintunde Akinleye] Reuters Activities on the nation’s bourse resumed the week on Monday on a positive note following investors’ interests in Dangote Cement and Airtel Africa. Specifically, the All-Share Index inched higher by 86.97 points or 0.21 per cent to close […]
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