Access Bank Plcis considering issuing bonds denominated in the United States dollar to enable it raise funds and enhance its operations, THISDAY gathered yesterday. Preparatory to this, THISDAY learnt that the commercial bank had mandated Citigroup and Goldman Sachs International to arrange series of global fixed income investor meetings in Europe and the US from today.
The financial institution recorded -69.26% losses in 2008 while it went up by +7.50% and +25% in 2009 and 2010 respectively. The stock went down by -49.47% losses in 2011 while it has recorded an impressive performance in 2012 with +56.25% YTD gains recorded so far.
MRS Oil Plchasput in plain words, reasons for the low returns realized in the 2011 Financial Year End result. The company’s leadership outlined a Challenging business environment, regulation and inflation rate as the major factors militating against the realization of lower gross earnings in the December 31, 2011 year end result. At the Annual General Meeting (AGM), which held yesterday in Lagos, The Chairman, Alhaji Sayyu Dantata affirmed that the short term borrowing of MRS has improved due to cargo supplies, which now come on credit.
The firms’ share price went down throughout the periods of review as it records price depreciations of -0.06%, -56.36%, -4.63% and -11.36% losses in 2008, 2009, 2010 and 2011 respectively. In 2012, the stock has recorded -45.27% YTD losses while its Q1 ’12 financials reflects that the company witnessed positive growths in both turnover and PAT.
Stanbic IBTC Bank Plc, a member of Standard Bank Group, has announced that it will hold a court ordered meeting of its shareholders with the aim of adopting a holding company structure. According to a statement by the bank on Tuesday, the name of the proposed HoldCo has been registered as Stanbic IBTC Holdings Plc.
The financial institution share price closed 2008 and 2009 negative with -45.20% and -31.47% losses, part of the losses were completely erased in 2010 with +23.16% price appreciations recorded while the stock witnessed and closed the year 2011 with -9.78% price depreciation. In 2012, the stock has witnessed -20% price depreciation.
Fidelity Bank Plc and First City Monument Bank Plc have been featured in The Banker Magazine’s list of the world’s top 1000 banks. The capital adequacy ratio of Fidelity bank recorded as 28.8 percent as well as First City Monument Bank’s 23.89 per cent earnmed both public liability companies from Nigeria the inclusion on the list. The banker’s Magazine is a subsidiary of London’s Financial Times.
The bank recorded -60.36% and -48.83% losses in 2008 and 2009 respectively while the stock closed 2010 with positive figure of +12.08% gains. It resumed downtrend in 2011 with -45.72% losses witnessed while it has so far recorded -13.70% YTD losses in 2012.
Union Bank of Nigeria Plc and Vigeo Holdings Limited through the latter’s subsidiary, Citiserve have started the sensitisation of merchants on the use of Point of Sale Terminals (PoS). This ongoing programme is aimed at addressing complaints arising from POS usage, while also supporting the Central Bank of Nigeria (CBN) cashless banking initiative, in which PoS merchants have key roles to play.
The financial institution recorded price depreciation of -64.70% and -60.53% in 2008 and 2009 respectively while it further went down by -30% in 2010. Part of the losses was erased in 2011 as it recorded +152.38% price appreciations. The stock has so far recorded -64.06% YTD price depreciations while it also recorded negative growths in its latest Q4 ’11 financials.
Cadbury Nigeria Plc, manufacturer of Cocoa based Beverages, Confectionery and Food Products has announced its Q2 earnings forecast for the period ended September 30th, 2012 to the market, revealing it expects to make a turnover of N9.8 billion. The company however looks to achieve a N7 billion cost of sales, just as it foresees a N1 billion profit before tax while it also targets a N735 million profit.
The consumer goods firm recorded price depreciations in 2008 and 2009 with -35.17% and -56.09% losses while the losses were completely erased in 2010 with +144.23% gains. It resumed downtrend in 2011 -55.50% losses recorded while the stock has so far recorded +27.02% YTD gains in 2012.
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