Chairman of the Board, The Emerald Foundation

I am a private investor with a bias towards undervalued stocks and stocks offering good dividend yields.I mostly write on financials, utilities and small caps. I do not offer financial advice, readers should do their own due diligence. The link more

ALL CONTRIBUTIONS

E Zenith Bank Continues To Perform Well
Zenith Bank's stock price is up by more than 80% since the publication of the article and exceeded the targeted return of 35%, excluding the dividend, by a substantial margin.
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E Nigerian Economic Crisis And Its Effect On Banks
Zenith Bank Plc is a Nigerian bank that has managed to maintain its level of non-performing loans at more than 900 basis points below the national average.
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Akbank: The Leading Turkish Bank
Akbank has the highest ROE of all Turkish banks. Despite a good YTD performance on the local market, the stock continues to trade below historical levels.
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Comments

Latest Comments
Zenith Bank Continues To Perform Well
1 year ago

Thank you for the feedback. I certainly agree that an investment in a Nigerian bank carries higher than normal risk. The concern over viability in 2016 was not related to Zenith per se but rather to the Nigerian banking sector as a whole. What drew my attention at Zenith in 2016 was its strong asset quality at a time when the Nigerian banking sector saw NPLs reach 11%. As noted, I am less optomistic about its share price performance for 2018.

Nigerian Economic Crisis And Its Effect On Banks
2 years ago

Hi James,

I will be writing a new article by the end of the week and will reply here with a link. Thank you for the positive feedback.

Nigerian Economic Crisis And Its Effect On Banks
2 years ago

Hi Wendel,

I do not have anything material to add at present. I will, however, do an update in March after the release of the banks results for 2017.

Purely in terms of share price the stock is up by about 12% since this article was written but I believe there is still upside potential.

Nigerian Economic Crisis And Its Effect On Banks
2 years ago

Thank you Bill. I believe the key to investing in Nigeria, much the same as investing elsewhere, is to find high quality companies.

Nigerian Economic Crisis And Its Effect On Banks
2 years ago

Yes I was a bit shocked when I first read of the low NPL ratio in a Moody's report and simply had to do more research. I believe this bank is the poster child for a prudent/conservative approach to lending in #Nigeria.

Nigerian Economic Crisis And Its Effect On Banks
2 years ago

Thank you for the feedback Charles, I will do my best to present more such ideas.

Nigerian Economic Crisis And Its Effect On Banks
2 years ago

I was a bit concerned that this article may not be a fit for the site. I am just hoping it was of some value.

1 to 9 of 9 comments

STOCKS I FOLLOW

ACLTF ATCO LTD CL II VTG C
ADWPF ANDREW PELLER LTD CL
AEG AEGON N.V.
AEP American Electric Power Company Inc
AFSI AmTrust Financial Services, Inc.
AGRPY ABSA GROUP LTD NEW A
AGU Agrium (now NTR)
AKBTY AKBANK TURK ANO ADR
ANZBY AUSTRALIA AND NEW ZE
AOBAX Accessor Balanced Allocation A Shs
AQN Algonquin Power & Utilities Corp
ARCC Ares Capital Corporation
ARZGY ASSICURAZIONI GENERA
AZSEY ALLIANZ SE
BACHY BANK OF CHINA LTD AD
BCE BCE Inc.
BGKKF BANGKOK BANK PUBLIC
BKRKY PT BANK RAKYAT ADR
BMO BMO Financial Group
BNS The Bank of Nova Scotia
CAE CAE Inc.
CBWBF CANADIAN WSTN BANK (
CCCRX Columbia Funds Series Trust I
CGMBF CHINA MINSHENG BANKI
CHIDX Credit Suisse Opportunity Funds
CJREF CORUS ENTERTAINMT B
CM Canadian Imperial Bank of Commerce
CMSQY COMPUTERSHARE LTD SP
CMWAY COMMONWEALTH BANK OF
CNI Canadian National Railway Company
CNQ Canadian Natural Resources Ltd.
CNR China Metro-Rural Holdings Limited
CWB SPDR Barclays Capital Convertible Bond ETF
DB Deutsche Bank AG
DLMAF DOLLARAMA INC
DOL WisdomTree International LargeCap Dividend Fund
EMLAF EMPIRE LTD CL A
EMRAF EMERA INCORPORATED
F Ford Motor Company
FANDY Firstrand Ltd
FCAREX FT Trust Units 3393 2012-22.2.12 SMid High Dividend Portfolio Series 4 M Cash
FINGF FINNING INTL INC
FINL The Finish Line Inc.
FSIC FS Investment Co
FTS Fortis Inc.
GM General Motors Company
GS Goldman Sachs Group Inc.
GSBD Goldman Sachs BDC, Inc.
HDB HDFC Bank Limited
HIBB Hibbett Sports Inc.
HSBC HSBC Holdings PLC
HTGC Hercules Technology Growth Capital, Inc.
IAUGF INSURANCE AUSTRALIA
IAUGY INSURANCE AUSTRALIA
IDGYX Riversource Threadneedle Global Equity Fund Clas
IGRSX ING Global Resources Fund S Class
JPMMZ
LALYX Lord Abbett Stock Appreciation Fund Class I
LNDC Landec Corporation
LRCDF LAURENTIAN BK CDA QU
LTDRX Alliancebernstein 2010 Retirement Strategy Class
MAIN Main Street Capital Corporation
MMRTY MASSMART HLDGS ADR
MS Morgan Stanley
MTNOY MTN GROUP LTD SP ADR
MTRAF METRO INC CL A SUB V
NABZY NATL AUSTRA BANK
NPKLY NAMPAK LTD SP ADR
NPSNY NASPERS LTD #
NTIOF NATIONAL BANK OF CDA
OPBK First Standard Bank
OVCHY OVERSEA-CHINESE ADR
PEG Public Service Enterprise Group Inc.
PSEC Prospect Capital Corporation
PSI PowerShares Dynamic Semiconductors Portfolio
PSYTF PASON SYSTEMS INC
PSZKY PKO BK POLSKI SA
PUK Prudential plc
RCI Rogers Communications Inc.
RE Everest Re Group Ltd.
RF Regions Financial Corporation
RIO Rio Tinto plc
RLVSX Russell Tax Exempt Bond Fund Class S
RNLSY Renault Société Anonym
RSHYY RUSHYDRO JSC ADR
RY Royal Bank of Canada
SAPIF SAPUTO INC
SBRCY SBERBANK RUSSIA
SCFR SECURITY FIRST INTL
SHG Shinhan Financial Group
SJR Shaw Communications Inc.
SJW SJW Corp.
SO Southern Company
SUNS Solar Senior Capital Ltd.
TD Toronto-Dominion Bank
TKGBY TURKIYE GARANTI BANK
TRAUF TRANSURBAN GR STAPLE
TRP TransCanada Corporation
TU TELUS Corporation
UFS Domtar Corporation
VOD Vodafone Group plc
WBK Westpac Banking Corporation
WMT Wal-Mart Stores Inc.
XXCDM BOSTON CAP IV 39 LP
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Work Experience

Chairman of the Board
The Emerald Foundation
March 2015 - Present (4 years 3 months)

Serving as the Chief Volunteer of the organisation, providing leadership to the board of directors, Chair meetings of the board after developing the agenda, Appointing the chairpersons of committees in consultation with the board, helps to guide and mediate board actions with respect to organisational priorities and governance, evaluates the organisations performance annually and appoint program coordinators in consultation with the board.

Education

University of Johannesburg
Bachelors
Law

Publications