FBN

Nigerian stocks climbed for the second trading day on Monday as the benchmark index jumped higher by 0.34 per cent with the lender FBN Holdings to thank. Trade in the financial services group was unusually frenetic as 610.4 million units representing 81.per cent of total transaction volume exchanged hands with the pressure of the demand for them boosting gain. The advance also drew support from Conoil and MTN Nigeria, which both reported moderate gains. “We anticipate continued profit…

Despite last week’s upward rate adjustment, Nigerian stocks were still up by over 2 per cent, a clear mark of resilience showing investors unflagging passion for equities even when yields from fixed income securities are equally if not more attractive. Quite a number of stocks are still undervalued and carry the potential of price appreciation regardless of the fact that the broad market has been on an uptrend for several weeks now and should be seeing a plateau. As investors await…

FBN Holdings Plc saw its gross earnings for last year jump to N757.3 billion, 28.2 per cent higher than the figure recorded one year prior, while its net profit climbed by more than three-fifths according to its audited financial statement obtained on Thursday. Late in coming, the release of the earnings report came nearly two months after the March 31 deadline, with management citing difficulty in completing the audit of one of the biggest subsidiaries of the group as the ground for the…

FBN Holdings Plc, through its subsidiary First Pension Custodian Limited, agreed with Access Bank Plc to buy out the latter’s pension subsidiary Access Pension Fund Custodian in a deal involving 100 per cent ownership transfer. The acquisition will ease the path for First Pension Custodian to broaden its footprint in a sector where it has operated for 17 years in charge of safe-keeping of pension assets on behalf of contributors. “The Central Bank of Nigeria and the National Pension…