Ibukun Omoyeni*i.omoyeni@vetiva.com The Monetary Policy Committee (MPC) gave its first policy direction under the chairmanship of Dr. Olayemi Cardoso with all 12 members present. The Committee raised the Monetary Policy Rate by 400bps to 22.75%, the highest level since its introduction in 2006. In addition, the asymmetric corridor around the MPR was adjusted to +100/-700bps […]
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We initiate coverage of TRANSCORP Power PLC (TPP) with a BUY recommendation and a target price of ₦288.36. Our valuation utilizes the Discounted Cash Flow (DCF) methodology and reflects our belief in TPP’s immense growth potential… TPP has demonstrated a consistent track record of impressive financial performance, exhibiting both revenue growth and profitability expansion over […]
Analyst: Olumide Sole*Target price: ₦29.00Rating: HOLD FBNH released its Q4’23 results, showing a 106% y/y jump in Gross earnings to ₦532 billion (Vetiva: ₦371 billion). As with other banks, the strong growth was due to a 56% y/y rise in Interest Income to ₦281 billion (Vetiva: ₦286 billion), owing to the expansion of the bank’s loan […]