THE NATION TUESDAY, NOVEMBER 19, 2013
55
MONEY LINK
I
N1.7tr bonds: AMCON’s investors decide payment plan today
NVESTORS in the Asset Management Corporation of Nigeria’s (AMCON) bonds are expected to communicate their terms of payment to the Corporation by the close of work today. AMCON Chief Executive Officer, Mustafa Chike-Obi said during a media parley in Lagos that about N1.7 trillion, out of the N5.7 trillion bonds issued by the corporation will be redeemed on December 30. However, investors in the bonds have to indicate whether they want to be paid in cash, or treasury bills. Such decision, he said, would guide the Central Bank of Nigeria (CBN)
•Illiquid bonds to cut banks’ earnings Stories by Collins Nweze
liquidity management plans in the coming months. The CBN holds about N3.6 trillion worth of the bonds. Meanwhile, a report by Renaissance Capital (RenCap), an Investment and Research firm, titled: Nigerian Banks: ‘Killing Me Softly,’ said most lenders that invested in the bonds would face challenging earnings in 2013. It said the investment affected the lenders’ liquidity posi-
tions. “We believe this will remain a challenging year for Access, given the nature of its balance sheet (large exposure to illiquid AMCON bonds). We think 2014 should be a year of stronger growth for Access, as most of the Asset Management Corporation of Nigeria (AMCON) debt matures at the end of this year and will be redeemed for either cash or t-bills – giving Access the opportunity to earn better returns on its assets,” the report said about the
E
card. The card, which can be pre-funded in Naira or United States Dollar denominations, is ideal for students, corporate accounts (expense cards, estacode, and corporate travel) and travel cards among others. The card, the bank stated, also eliminates the burden of carrying large sums of money around just as it allows its holders to spend conveniently since both the Personal Travel Allowance (PTA) and Basic Travel Allowance (BTA) are loadable on the prepaid card. “With the product, the statement further affirmed that, “Holders of the MasterCard prepaid do not need to carry huge amounts in foreign currencies during foreign trips because
money loaded in the card is already available, secure, safe and can be used anywhere in the world. What that means is that it is convenient for everybody that will be travelling both within and outside the country during the festive period,” it said. The bank also said that the process of acquiring the card is simple because customers can collect e-Business application forms from any branch of the lender nationwide and submit completed ones with required documents. Once this is perfected, the individual will collect the card on the spot and in addition, receive a welcome letter and a user manual, which guides them through detailed and effective usage of the card.
Amount N
Rate %
M/Date
3-Year 5-Year 5-Year
35m 35m 35m
11.039 12.23 13.19
19-05-2014 18-05-2016 19-05-2016
IRSTBANK in collaboration with Interswitch, has inaugurated FirstClub, the lender’s enterprise loyalty scheme. The product rewards customers with points for various transactions performed with the bank. The transactions covers savings/ current account deposits, bills payment, Point of Sale (POS) payments using any FirstBank Card, and in addition offers the exclusive FirstClub Platinum Mastercard as an additional reward to affluent customers for large ticket transactions in the defined campaign categories. Speaking at the product launch in Lagos, FirstBank’s Group Managing Director, Bisi Onasanya said the customers are expected to benefit from FirstExclusive card which is a debit Platinum card provided by MasterCard, a global payment company. Onasanya who was represented by the bank’s Chief Financial Of-
WHOLESALE DUTCH AUCTION SYSTEM Amount Offered ($) 350m 350m
MANAGED FUNDS Initial Quotation Price N8250.00 N1000.00
NIDF NESF
OBB Rate Call Rate
Current Market 5495.33 N552.20
Price Loss 2754.67 447.80
PRIMARY MARKET AUCTION (T-BILLS) Tenor 91-Day 182-Day 1-Year
Amount 30m 46.7m 50m
SYMBOL
O/PRICE
Rate % 10.96 9.62 12.34
Date 28-04-2012 “ 14-04-2012
GAINERS AS AT 18-11-13
TRANSCORP CILEASING OANDO MRS 7UP LIVESTOCK UBCAP ETERNA CUTIX STERLNBNK
2013-11-15
3.63 0.50 12.00 52.51 68.00 3.69 1.26 2.96 1.76 2.26
C/PRICE 2013-11-18
4.00 0.54 12.81 55.90 71.40 3.87 1.32 3.10 1.84 2.36
%CHANGE 10.19 8.00 6.75 6.46 5.00 4.88 4.76 4.73 4.55 4.42
LOSERS AS AT 18-11-13
SYMBOL CONOIL NAHCO AGLEVENT WEMABANK JOSBREW COSTAIN UTC RTBRISCOE INTENEGINS AFRIPRUD
2013-11-15
O/PRICE 76.00 6.00 1.64 1.24 3.17 0.86 0.66 1.18 0.53 1.95
2013-11-18
C/PRICE 72.20 5.70 1.56 1.18 3.02 0.82 0.63 1.13 0.51 1.90
350m
Year Start Offer
Current Before
Current After
Amount Sold ($) 150m 138m
Exchange Rate (N) 155.2 155.8
Date 2-7-12 27-6-12
113m
113m
155.7
22-6-12
NGN USD NGN GBP
147.6000 239.4810
149.7100 244.0123
150.7100 245.6422
-2.11 -2.57
NGN EUR NIGERIA INTER BANK (S/N) (S/N) Bureau de Change (S/N) Parallel Market
212.4997
207.9023
209.2910
-1.51
149.7450
154.0000
154.3000
-3.04
152.0000
153.0000
155.5000
-2.30
153.0000
154.0000
156.0000
-1.96
DISCOUNT WINDOW Feb. ’11
July ’11
July ’12
MPR
6.50%
6.50%
12%
Standing Lending Rate ,, Deposit Rate ,, Liquidity Ratio Cash Return Rate Inflation Rate
8.50% 4.50% 25.00% 1.00% 12.10%
8.50% 4.50% 25.00% 2.00% 12.10%
9.50% 5.50% 30.00% 2.00% 11.8%
NIBOR Tenor 7 Days 30 Days 60 Days 150 Days
Rate (Previous) 4 Mar, 2012 9.0417 9.6667 11.2917 12.1250
Rate (Currency) 6, Mar, 2012 10.17% 11.46% 11.96% 12.54%
CAPITAL MARKET INDEX
CUV Start %
%CHANGE -5.00 -5.00 -4.88 -4.84 -4.73 -4.65 -4.55 -4.24 -3.77 -2.56
Amount Demanded ($) 150m 138m
EXHANGE RATE 6-03-12 Currency
INTERBANK RATES 7.9-10% 10-11%
ficer, Bayo Adelabu named other partners to the project as Starwood Hotels & Resorts which provides discount offers on room rates, spa, foods and beverages, as well as complimentary Wi-Fi, use of hotel gym during lodging at all Starwood Hotels in Nigeria such as Four Point by Sheraton (Lagos), Sheraton (Lagos & Abuja), L’Meridian (Uyo & Port-Harcourt). Onasanya club members can also use points combination with cash/ card for purchase on LazyBargains.com. while airport Lounge Access (at Dubai, Abu Dhabi, Cairo, Kuwait, Riyadh, Dammam & Jeddah) are also available. Director, Switching & Processing, Interswitch, Akeem Lawal, said the company is the bank’s technical implementation partner and country representative of Welcome Realtime Singapore the platform providers of the FirstClub Loyalty Scheme.
DATA BANK
FGN BONDS Tenor
•Chike-Obi
FirstBank inaugurates loyalty scheme for customers
F
Enterprise Bank’s customers get improved card services
NTERPRISE Bank has said its customers will enjoy additional convenience with its dual purpose MasterCard Prepaid Card used locally and internationally. In a statement, the bank explained that the card is a multi-purpose chip and pin debit card that can be prefunded with cash. It said product can then be used to effect cashless payments (like a bank debit card) on the internet, Point of Sale (PoS) terminals and cash from Automated Teller Machines (ATMs). All these features, the bank added, make it a convenient companion for travelers this period. It said the individual would have no need to open or have a bank account in order to have the prepaid
lender’s position. It added that tougher regulation by the CBN would make it difficult for banks to deliver improved earnings. “We think it will become harder for some of the banks to deliver returns in excess of their cost of equity – especially some of the smaller banks,” the RenCap report said.
NSE CAP Index
19-09-13 11.432.09 35,891.90
23-09-13 11.494.75 36,088.64
% Change -
MEMORANDUM QUOTATIONS Name AFRINVEST W.A. EQUITY FUND ARM AGGRESSIVE GROWTH BGL NUBIAN FUND BGL SAPPHIRE FUND CANARY GROWTH FUND CONTINENTAL UNIT TRUST FBN FIXED INCOME FUND FBN MONEY MARKET FUND KAKAWA GUARANTEED NIGERIA INTERNATIONAL DEB. PARAMOUNT EQUITY FUND STANBIC IBTC GUARANTE INVE STANBIC IBTC NIG EQUITY LOTUS CAPITAL HALAL
Offer Price 161.60 9.17 1.10 1.17 0.75 1.39 1,000.00 100.00 143.11 1,865.47 14.43 141.19 11,496.45 0.80
Bid Price 160.55 9.08 1.09 1.17 0.74 1.33 1,000.00 100.00 142.62 1,857.56 13.73 140.70 11,170.99 0.78
• ARM AGGRESSIVE • KAKAWA GUARANTEED • STANBIC IBTC GUARANTE • AFRINVEST W.A. EQUITY FUNDARM AGGRESSIVE
Movement
OPEN BUY BACK
Bank P/Court
Previous 04 July, 2012
Current 07, Aug, 2012
8.5000 8.0833
8.5000 8.0833
Movement