Invest Data Consulting Ltd

No doubt, the first quarter of 2017, which ended last Friday, was a bad one for the bulls on the floor of the Nigerian Stock Exchange as it closed negative to finished its third consecutive quarter of down market on bearish sentiments, resulting from the socio-political instability, low confidence, weak macro-economic, lack of strategic economic reforms plan. The Federal Government only recently unveiled its much awaited Economic Recovery and Growth Plan, which has generated so much debate for and against, but waiting for implementation amidst cautious optimism on the side of analysts. Perhaps an even more significant draw-back is the failure of the government to get its 2017 budget or spending plan approved by the National Assembly, following which the Federal Government, on Friday announced an extension of the lifespan of the 2016 budget’s capital expenditure to the end of this month.   Meanwhile, the composite NSE All Share Index for the first quarter of the year shed 1

The management of United Bank of Africa Plc recently released its full-year 2016 earnings report a bit later than the date of the 2015 numbers, which was however still within the regulatory time frame, in line with its post-listing requirement, realizing that corporate governance and performance cannot be overemphasized, being key ingredients that sustain value creation at any time.     The bank’s solid network of Pan-African business offices continues to support its profitability ratios, regardless of its huge provision and high income tax expenses in the period under consideration, coupled with the management’s commitment and vision of strengthening its presence and operational capacity to sustain growth and profitability.  Gross earnings for the year rose by 22% to N383.65bn from N314.83bn in 2015, as bottom line grew 21% rise to N72.26bn from N59.65bn in 2015, as impairment loss on financial assets for the period soared by 448.19% to N27.68bn from N5.05bn in 2015, a refle