After posting an impressive 2013 financial result backed up with a dividend yield that is above the banking industry average on the Nigerian stock
exchange, Sterling bank has released it 2014 Q1 result which is also not far
from a sterling performance.
After posting an impressive 2013 financial result with a
dividend yield that is above the banking industry average on the Nigerian stock
exchange, Sterling bank has released it 2014 Q1 result which is also not far
from a sterling performance.
·
An impressive increase in its Interest income
with a corresponding marginal increase in interest expenses results to the bank
having an encouraging 58.14% increase in Net Interest income on a QoQ basis
·
Operating Income was also seen to have increased
by 35% on a QoQ basis
·
The bank PBT and PAT also increased on a QoQ
basis by 17% and 15% respectively.
·
The bank EPS was however down by 17% due to the
increase in the bank Outstanding shares from 16bill in Q1, 2013 to 22bill in Q1
2014 due to its recent right issue.
·
It should also be noted that what would have
been a more robust bottom line performance was marred by an upsurge in the bank
loan loss and operating expenses.
With a Q1 EPS of .15k, 2014 FY estimated EPS and PE of .58k
and 4 respectively makes STERLING BANK a company to be listed under my STRONG
WATCH view.
The above inferences represent my personal feelings and should therefore not be relied upon in making investing decision.
Twitter - @1himself
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