Assessment Ratio – Regiofora http://regiofora.com/ Tue, 22 Nov 2022 15:59:46 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://regiofora.com/wp-content/uploads/2021/07/icon-5-150x150.png Assessment Ratio – Regiofora http://regiofora.com/ 32 32 Allegheny County in legal limbo over common level ratio applied in property tax assessment appeals | Perspectives https://regiofora.com/allegheny-county-in-legal-limbo-over-common-level-ratio-applied-in-property-tax-assessment-appeals-perspectives/ Tue, 22 Nov 2022 15:59:46 +0000 https://regiofora.com/allegheny-county-in-legal-limbo-over-common-level-ratio-applied-in-property-tax-assessment-appeals-perspectives/ In 2021, a group of ratepayers filed a lawsuit in the Allegheny County Court of Common Pleas challenging the accuracy of the common level ratio used in the 2022 appeals. In the lawsuit, the ratepayers argue that the ratio current 81.1 should be lowered to 63.53. Applying a ratio of 81.1 versus a ratio of […]]]>

In 2021, a group of ratepayers filed a lawsuit in the Allegheny County Court of Common Pleas challenging the accuracy of the common level ratio used in the 2022 appeals. In the lawsuit, the ratepayers argue that the ratio current 81.1 should be lowered to 63.53. Applying a ratio of 81.1 versus a ratio of 63.53 significantly affects a taxpayer’s valuation. For example, if a property has a current fair market value of $100,000 and is purchased for $150,000, a ratio of 81.1 would result in an appraisal of $121,650. If, however, a ratio of 63.53 were applied, the valuation would be $95,295. It is therefore clear that a reduced ratio is advantageous for taxpayers.

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BOQ stock price could be better than the S&P/ASX 200 (XJO), right? https://regiofora.com/boq-stock-price-could-be-better-than-the-sp-asx-200-xjo-right/ Sun, 20 Nov 2022 05:46:40 +0000 https://regiofora.com/boq-stock-price-could-be-better-than-the-sp-asx-200-xjo-right/ In this update, I will explain how easy it can be to provide an ASX bank stock price valuation such as Bank of Queensland Limited (ASX:BOQ). That said, while it may seem “simple” to create a business valuation model, no valuation or stock forecast is guaranteed. If “value investing” was as simple as what we […]]]>
In this update, I will explain how easy it can be to provide an ASX bank stock price valuation such as Bank of Queensland Limited (ASX:BOQ). That said, while it may seem “simple” to create a business valuation model, no valuation or stock forecast is guaranteed. If “value investing” was as simple as what we are about to show you, everyone would be rich!

Our top banking stocks represent more than a third of the local stock market, measured by the market capitalization of the 200 largest companies in the S&P/ASX 200 Index.

If you really want to understand how to value a dividend stock, such as a bank or REIT, you should consider watching the Rask Australia analyst team’s video tutorial.

You can subscribe to the Rask Australia YouTube channel and receive the latest (and free) value investing videos by clicking here.

BOQ share price: valuation in action

The price-to-earnings ratio, which is short for price-to-earnings, is a basic but popular valuation ratio. It compares the annual profit (or “earnings”) to the current share price ($7.25). Unfortunately, it’s not the perfect tool for bank stocks, so using more than just PE ratios is essential for your analysis.

That said, it can be useful to compare PE ratios between stocks in the same sector (banking) and determine what is reasonable and what is not.

If we take BOQ’s stock price today ($7.25), along with earnings (i.e., earnings) per share data for its fiscal year 2022 ($0.71) , we can calculate that the PE ratio of the company is 10.2x. This compares to the banking industry average PE of 15x.

Next, take earnings per share (EPS) ($0.71) and multiply it by the industry average PE ratio of BOQ (Banking). This translates to a “sector-adjusted” PE valuation of $10.75.

What are BOQ dividends worth to an investor?

A DDM is a more attractive and robust way of valuing companies in the banking sector, given that the dividends are fairly constant.

DDM valuation modeling is one of the oldest methods used on Wall Street to value companies, and it is still used here in Australia by banking analysts. A DDM model takes the most recent full year dividends (e.g. last 12 months or LTM), or expected dividends, for the next year, then assumes dividends grow at a constant rate over a forecast period (e.g. 5 years or forever).

To make this DDM easier to understand, we will assume that last year’s dividend payment ($0.46) climbs at a fixed rate each year.

Then we choose the “risk” rate or the expected rate of return. This is the rate at which we discount future dividend payments into today’s dollars. The higher the “risk” rate, the lower the stock price valuation.

We used a blended rate for dividend growth and a risk rate between 6% and 11%, then got the average.

This simple DDM valuation of BOQ stock is $8.77. However, using an “adjusted” dividend payment of $0.52 per share, the valuation jumps to $9.32. The expected dividend valuation compares to Bank of Queensland Limited’s share price of $7.25. Since the company’s dividends are fully franked, you may choose to make an additional adjustment and make the valuation on the basis of a “gross” dividend payment. That is, cash dividends plus franking credits (available to eligible shareholders). Using the expected gross dividend payment ($0.74), our BOQ stock price valuation is estimated at $13.32.

BOQ Share Price Summary

Our two templates could serve as an introductory guide to how the assessment process works. Analyzing a bank stock like Bank of Queensland Limited is a complicated task. If we were looking at stocks and considering an investment, we would first want to know more about the bank’s growth strategy. For example, are they looking for more loans (i.e. interest income) or more non-interest income (fees for financial advice, investment management, etc.)

Next, take a close look at economic indicators such as unemployment, house prices and consumer sentiment. Where are they going ? Finally, we believe it is important to assess the management team. For example, when we extracted culture data from BOQ, we found that it was not a perfect 5/5. Culture is something to think about.

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Vienna Insurance Group’s profit reached 413.4 million euros, up 10% in the first nine months – The Diplomat Bucharest https://regiofora.com/vienna-insurance-groups-profit-reached-413-4-million-euros-up-10-in-the-first-nine-months-the-diplomat-bucharest/ Tue, 15 Nov 2022 07:57:41 +0000 https://regiofora.com/vienna-insurance-groups-profit-reached-413-4-million-euros-up-10-in-the-first-nine-months-the-diplomat-bucharest/ Vienna Insurance Group (VIG) reported a positive development for the first three quarters of 2022. All key figures improved again compared to the same period of the previous year. “Of course, like any business, we are feeling the effects of the current situation, with inflation being the main factor here. This situation leads, among other […]]]>

Vienna Insurance Group (VIG) reported a positive development for the first three quarters of 2022. All key figures improved again compared to the same period of the previous year.

Of course, like any business, we are feeling the effects of the current situation, with inflation being the main factor here. This situation leads, among other things, to an increase in the claims burden, thus weighing on the evolution of the combined ratio. Nevertheless, we are confident that our broad diversification strategy will allow us to effectively manage overall inflation risk. A risk assessment has shown that our most important markets in terms of volume are well positioned due to the measures taken and the current pricing policy. We remain confident in the long-term growth potential of the CEEC region, especially as the current forecasts for this region are again significantly higher than those of the euro zone.

Considering the current situation and provided that there are no unexpected external factors and volatility by the end of the year, we expect a premium volume of at least 12 billion euros for the whole of 2022 and a pre-tax profit that exceeds the figure for the previous year by 511 million euros. In terms of combined ratio, we are targeting a value of around 95% despite the difficult environmentsays Elisabeth Stadler, CEO of Vienna Insurance Group.

Premium growth across all lines of business and segments
A clear upward trend can be observed in the volume of premiums. The total premium volume increased significantly by 13.6% in the first nine months of 2022 to 9,530 million euros. This includes the first consolidation of the most recently acquired insurance companies in Hungary and Turkey with premiums of approximately €291 million, representing 3.0% of total premium volume. Even without these companies, premium growth is double digit at 10.1%. There was premium growth across all lines of business and segments of VIG. With the exception of single-premium life insurance (+3.1%), all business lines posted double-digit growth rates (automotive civil liability +21%, auto damage insurance +13.6%, other insurance property and liability +15.3%). , health insurance +11.8%, regular premium life insurance +10%).

Pre-tax profit up around 10%
At 413.4 million euros, the pre-tax profit was about 10% higher than the previous year’s value. At 479.2 million euros, financial income (excluding income from equity-accounted companies) was down 8.4% compared to the previous year, mainly due to the measures already taken in the first and second quarters of 2022 as part of the exhibitions on the Russian state. and corporate bonds. At 302.4 million euros, net profit was 10.1% higher than the previous year.

Slightly improved combined ratio
At 95.1%, the combined ratio is slightly lower than the value of the previous year (95.2%). However, the pressure of increasing average losses, partly due to inflation, is evident compared to the first half of the year, when the combined ratio was 94.3%.

VIG Group investments, including cash and cash equivalents, amounted to €34.1 billion as of September 30, 2022. Earnings per share (annualised) increased from €2.86 to €3.07 during the period under review (+7.3%).



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I would buy these 2 FTSE 100 stocks for my New Year’s portfolio https://regiofora.com/i-would-buy-these-2-ftse-100-stocks-for-my-new-years-portfolio/ Fri, 11 Nov 2022 08:42:00 +0000 https://regiofora.com/i-would-buy-these-2-ftse-100-stocks-for-my-new-years-portfolio/ A young black man makes the symbol of a peace sign with two fingers At the end of each year, I like to review my current portfolio and think of ways to improve it. This evaluation process was probably one of the only benefits of 2022 being such a difficult year, as it gave me […]]]>

A young black man makes the symbol of a peace sign with two fingers

At the end of each year, I like to review my current portfolio and think of ways to improve it. This evaluation process was probably one of the only benefits of 2022 being such a difficult year, as it gave me a lot of areas to improve.

My value-oriented investments suffered during the year as already low stock prices fell further. Similarly, my small selection of growth stocks saw a significant reduction in their price-to-earnings (P/E) ratios. The only promising group was the dividend portion, which provided a steady source of passive income.

I am keen to diversify further as we approach 2023 and increase my dividend allocation. One of the ways I plan to do this is to seek out quality companies that trade at reasonable prices. This approach focuses on strong fundamentals first and then narrows potential options based on price.

Unilever

The first stock on my list is Unilever (LSE: ULVR), one of the world’s largest consumer goods companies. It offers a wide range of personal care, food and home products. The share price has remained fairly stable over the years and is up just over 3% in 2022. However, it is still down 13.2% from pre-pandemic levels.

The stock currently offers a 3.6% dividend but is expected to rise to 3.7% next year. This return has paid consistently over the past 30 years and can be comfortably covered by earnings per share (EPS) with a dividend coverage ratio of 1.5.

The underlying fundamentals are strong, with healthy profit margins, reasonably low debt levels and strong free cash generation. Revenue is also expected to grow by 13.3% next year, well above its three-year average of just 0.9%.

Despite the downward trend in the share price since before the pandemic, it still has a P/E ratio of 17.7. It’s above the FTSE100 Average P/E of around 14, so could be considered a bit pricey.

Nonetheless, I think the strong underlying fundamentals and track record of strong performance are worth the premium. Therefore, I will add Unilever to my new 2023 investment portfolio shortly.

Hargreaves Lansdown

The second company on my list is Hargreaves Lansdown (LSE: HL). It operates a range of investor services in the UK, such as managed funds and support services. Unlike Unilever, this stock has suffered considerably in recent years. It has fallen almost 40% in 2022 and now has a P/E ratio of around 16.

Despite this poor stock market performance, the fundamentals are very solid. The return on invested capital (ROCE) is high at almost 45%, combined with a very low level of debt. In addition, revenue and profit are expected to grow significantly next year, well above their three-year average.

Still, I think it’s important to remember some of the reasons for the recent poor performance of stocks. The company has struggled with the negative publicity surrounding the Woodford fund’s collapse and its alleged role in the debacle. Additionally, analysts wonder whether a drop in post-pandemic investment activity could reduce the company’s earnings potential.

Nonetheless, I think it’s a great example of a high quality company with strong profit margins that still trades at a reasonable price. So I want to add to my position when I have the money.

The post that I would buy these 2 FTSE 100 shares for my New Year’s portfolio appeared first on The Motley Fool UK.

More reading

Gabriel McKeown holds positions at Hargreaves Lansdown. The Motley Fool UK recommended Hargreaves Lansdown and Unilever. The opinions expressed on the companies mentioned in this article are those of the author and may therefore differ from the official recommendations we give in our subscription services such as Share Advisor, Hidden Winners and Pro. At The Motley Fool, we believe that considering a wide range of information makes us better investors.

Motley Fool United Kingdom 2022

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KCCQ-12 Improved Accuracy of Health Status Assessment in Heart Failure Clinic https://regiofora.com/kccq-12-improved-accuracy-of-health-status-assessment-in-heart-failure-clinic/ Sat, 05 Nov 2022 23:51:15 +0000 https://regiofora.com/kccq-12-improved-accuracy-of-health-status-assessment-in-heart-failure-clinic/ Research presented at the American Heart Association (AHA) Scientific Sessions in Chicago, Illinois found that the Kansas City Cardiomyopathy Questionnaire-12 (KCCQ-12) was able to assess symptoms in patients with more precision for clinicians. Data presented today at the American Heart Association (AHA) Scientific Sessions offer insight into how the use of patient-reported outcomes (PRO) can […]]]>

Research presented at the American Heart Association (AHA) Scientific Sessions in Chicago, Illinois found that the Kansas City Cardiomyopathy Questionnaire-12 (KCCQ-12) was able to assess symptoms in patients with more precision for clinicians.

Data presented today at the American Heart Association (AHA) Scientific Sessions offer insight into how the use of patient-reported outcomes (PRO) can help physicians better manage heart failure ( CI).

A substudy of the PRO-HF trial found that use of the Kansas City Cardiomyopathy Questionnaire-12 (KCCQ-12) improved both the accuracy of clinicians’ health status assessments and patient confidence in the understanding of their symptoms by their doctors.

The first results of the study, officially known as the Patient Reported Outcomes in Heart Failure Clinic trial, were presented during a late-breaking session at the conference, which opened Saturday in Chicago, in Illinois, and ended Monday.

The results were published simultaneously in Circulation: heart failure.

“The KCCQ-12 is a validated patient-reported health status instrument that assesses functional limitations, social limitations, quality of life, and frequency of symptoms related to heart failure,” said Alexander Sandhu, MD, author of the study who presented the results.

The objective of the substudy presented to the AHA was to determine whether patient-reported health status would be able to improve the accuracy of clinician assessments, since clinicians typically assess the health status of heart failure patients using the New York Heart Association (NYHA) classification. Sandhu explained that the KCCQ-12 has 4 domain scores and an overall processing score, each ranging from 0 to 100.

“Patient-reported health status is a better predictor of cardiovascular outcomes than NYHA class,” he said.

The substudy was a randomized, unblinded trial that investigated the effect of routine collection of KCCQ-12 in an HF clinic. Patients who attended the Stanford HF Clinic with a scheduled visit from August 30, 2021 to June 30, 2022 were enrolled in the study. These patients were then randomized into 2 groups: usual care or KCCQ-12 assessment.

Clinicians were asked about their patients’ NYHA class, quality of life, disease trajectory, and symptom frequency and asked how they perceived the implementation of KCCQ-12. These responses were then compared to the responses provided by the patients in their KCCQ-12 survey. Patients were also asked about their interactions with their clinicians.

Patients also received another survey to assess their level of agreement with 8 positive statements regarding their clinician’s understanding of their condition, communication, alignment of treatment goals, and clinician-patient relationship. .

People included in the trial had a median age (interquartile range) of 63.9 (51.8-72.8) years, and 87.3% had a previous diagnosis of heart failure or cardiomyopathy; 53.3% had an ejection fraction greater than 50%. The median KCCQ-12 summary score was 82.

Of the 1248 patients in the PRO-HF trial, 1051 patients attended a visit during the substudy. The KCCQ-12 arm included 528 patients whose KCCQ-12 results were provided to the clinicians treating them. Patients in the usual care group completed the KCCQ-12, but the results were not reported to their clinicians.

The study found that the correlation between NYHA class and patient-reported health status was stronger when clinicians had the KCCQ-12 score compared to the usual care score (r, -0.73 vs r , -0.61). A table illustrating where clinicians categorized patients according to the NYHA was presented, along with the results of outcomes reported by patients in the usual care group and patients who completed the KCCQ-12.

“Drawing attention to NYHA Class 3…patients receiving usual care are more likely, despite being classified as having Class 3 symptoms, to describe very good health with a KCCQ- 12 greater than 70 or very poor condition with a KCCQ-12 score less than 20, indicating greater disagreement in the usual care arm,” Sandhu said.

Patients in the KCCQ-12 arm found more concordance between clinician and patient ratings of quality of life and frequency of symptoms compared to patients in the usual care arm, with 7 of 8 reporting responses positives with a higher likelihood of concordant assessments in the KCCQ -12 arm.

Patients more frequently agreed that clinicians understood their symptoms if they were in the KCCQ-12 arm (95.2% versus 89.7%; odds ratio, 2.27; 95% CI, 1.32-3.87) compared to patients in the usual care group. Both groups reported similar quality in therapeutic alliance and clinician communication.

Clinicians treating HF have also found the KCCQ-12 helpful in improving history consistency, accurately understanding quality of life, focusing conversations, and tracking trends.

There were some limitations to this study. The trial was single center and unblinded, which may have affected interactions with clinicians. The cohort was less symptomatic with a high KCCQ-12 score. The follow-up was short and it may take time for clinicians to be able to fully implement these findings into their practice.

The study concluded that collecting the KCCQ-12 can improve the accuracy of the clinician’s assessment of health status and that patients perceive a better assessment of the clinician’s health status when using the KCCQ. -12. Clinicians have also found value in KCCQ-12 data. How this will affect clinical processes and outcomes is still being evaluated over the long term.

Reference

Sandhu AT, Zheng J, Kalwani NM, et al. First results from the PRO-HF trial (Measuring Patient-Reported Outcomes in the Heart Failure Clinic). Presented at: AHA 2022; Chicago, Ill.; November 5-7, 2022. Session LBS.02

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Qualys (NASDAQ:QLYS) PT lowered to $162.00 at Canaccord Genuity Group https://regiofora.com/qualys-nasdaqqlys-pt-lowered-to-162-00-at-canaccord-genuity-group/ Thu, 03 Nov 2022 12:43:18 +0000 https://regiofora.com/qualys-nasdaqqlys-pt-lowered-to-162-00-at-canaccord-genuity-group/ Qualys (NASDAQ:QLYS – Get an Assessment) saw its target price lowered by research analysts Canaccord Genuity Group from $180.00 to $162.00 in a research note released Thursday to investors, reports The Fly. Canaccord Genuity Group’s price target indicates a potential upside of 21.06% from the company’s previous close. Several other analysts have also recently weighed […]]]>

Qualys (NASDAQ:QLYS – Get an Assessment) saw its target price lowered by research analysts Canaccord Genuity Group from $180.00 to $162.00 in a research note released Thursday to investors, reports The Fly. Canaccord Genuity Group’s price target indicates a potential upside of 21.06% from the company’s previous close.

Several other analysts have also recently weighed in on QLYS. Wolfe Research raised its price target on Qualys from $145.00 to $147.00 and gave the company an “outperform” rating in a Wednesday, August 10 report. Wedbush cut its price target on Qualys from $150.00 to $140.00 in a research report on Thursday. Morgan Stanley raised its price target on Qualys from $113.00 to $123.00 and gave the company an “underweight” rating in a Tuesday, Aug. 9 research report. Northland Securities raised its price target on Qualys from $138.00 to $142.00 in a Tuesday, August 9 research report. Finally, DA Davidson raised his price target on Qualys to $135.00 in a Monday, August 15 research report. One analyst gave the stock a sell rating, five issued a hold rating and eight issued a buy rating to the company’s shares. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $150.54.

Qualys Stock Performance

Shares of QLYS opened at $133.82 on Thursday. The stock’s 50-day simple moving average is $143.83 and its 200-day simple moving average is $135.67. The stock has a market capitalization of $5.13 billion, a price-earnings ratio of 52.27 and a beta of 0.62. Qualys has a 52-week low of $108.10 and a 52-week high of $162.36.

Qualys (NASDAQ:QLYS – Get Rating) last released its quarterly earnings data on Monday, August 8. The software maker reported earnings per share (EPS) of $0.67 for the quarter, beating analyst consensus estimates of $0.51 by $0.16. The company posted revenue of $119.89 million for the quarter, compared to $117.52 million expected by analysts. Qualys has a return on equity of 24.17% and a net margin of 22.68%. The company’s quarterly revenue increased 20.3% year over year. In the same quarter a year earlier, the company posted EPS of $0.53. On average, research analysts expect Qualys to post earnings per share of 2.46 for the current fiscal year.

Insider buying and selling

Separately, CEO Sumedh S. Thakar sold 5,576 shares of the company in a transaction that took place on Friday, October 14. The stock was sold at an average price of $127.98, for a total transaction of $713,616.48. Following the transaction, the CEO now directly owns 148,384 shares of the company, valued at approximately $18,990,184.32. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. Separately, CRO Allan Peters sold 2,711 Qualys shares in a trade that took place on Wednesday August 10th. The stock was sold at an average price of $143.33, for a total value of $388,567.63. Following the sale, the executive now directly owns 24,622 shares of the company, valued at approximately $3,529,071.26. The sale was disclosed in a filing with the SEC, which is available via this link. Additionally, CEO Sumedh S. Thakar sold 5,576 Qualys shares in a trade that took place on Friday, October 14. The stock was sold at an average price of $127.98, for a total value of $713,616.48. Following the completion of the sale, the CEO now owns 148,384 shares of the company, valued at $18,990,184.32. The disclosure of this sale can be found here. Insiders sold a total of 35,092 shares of the company worth $5,157,672 in the past ninety days. 1.40% of the shares are held by insiders.

Institutional investors weigh in on Qualys

A number of large investors have recently changed their positions in QLYS. Pinnacle Financial Partners Inc. bought a new position in Qualys stock in Q3 worth about $25,000. Hoey Investments Inc. bought a new position in Qualys stock in Q2 valued at around $38,000. Wipfli Financial Advisors LLC bought a new position in Qualys stock in Q3 worth around $57,000. Castle Wealth Management LLC bought a new position in Qualys during the second quarter worth $102,000. Finally, Van ECK Associates Corp increased its stake in Qualys by 16.0% during the first quarter. Van ECK Associates Corp now owns 843 shares of the software maker valued at $120,000 after buying 116 more shares in the last quarter. 90.60% of the shares are currently held by institutional investors.

Qualys Company Profile

(Get a rating)

Qualys, Inc provides cloud-based information technology (IT), security, and compliance solutions in the United States and globally. The company offers Qualys Cloud Apps, which includes vulnerability management; Management, detection and response to vulnerabilities; threat protection; Continuous monitoring; patch management; Multi-vector endpoint detection and response; certificate assessment; SaaS detection and response; Secure enterprise mobility; Compliance Policy; security configuration assessment; PCI compliance; File integrity monitoring; Security Assessment Questionnaire; out-of-band configuration assessment; Web application scanning; Web Application Firewall; Global Asset Inventory; Cybersecurity asset management; Inventory of certificates; Cloud inventory; Cloud security assessment; and container security.

Featured Articles

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Analyst Recommendations for Qualys (NASDAQ: QLYS)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to contact@marketbeat.com.

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NBF’s nine-month net profit jumps 155.1% https://regiofora.com/nbfs-nine-month-net-profit-jumps-155-1/ Wed, 26 Oct 2022 12:51:04 +0000 https://regiofora.com/nbfs-nine-month-net-profit-jumps-155-1/ Resilient performance supported by strong capital adequacy, solid improvement in asset quality and strong balance sheet management NBF is pleased to announce today its results for the nine months ended September 30, 2022. Strong points: NBF recorded year-on-year growth of 155.1% to end the nine-month period with a net profit of AED230.7 million compared to […]]]>
  • Resilient performance supported by strong capital adequacy, solid improvement in asset quality and strong balance sheet management

NBF is pleased to announce today its results for the nine months ended September 30, 2022.

Strong points:

  • NBF recorded year-on-year growth of 155.1% to end the nine-month period with a net profit of AED230.7 million compared to AED90.4 million for the corresponding period of 2021, up by 463.4% for the three-month period ended September 30, 2022 over the corresponding period of 2021. This demonstrates NBF’s increased focus on quality business, an effective funding base, continued economic recovery and improving resilience despite the uncertain geopolitical environment.
  • Supported by higher net interest income and net income from Islamic financing and investment activities, fee income and foreign exchange, NBF recorded an operating profit of AED 932.5 million for the nine-month period, an increase of 25.1% compared to AED 745.4 million for the corresponding period. 2021 and up 2.4% quarter on quarter and 32.9% for the three-month period ended September 30, 2022 compared to the corresponding period of 2021.
  • Operating income growth of 28.1% was recorded for the three-month period ended September 30, 2022 compared to the corresponding period of 2021; and 3.5% compared to Q2 2022. Operating profit reached AED 1.32 billion for the nine months ended September 30, 2022, up 21.7% from AED 1.1 billion for the corresponding period of 2021, reflecting higher interest rates and improved fee income in line with the bank’s prudent recovery strategy.
    • Net interest income and net income from Islamic financing and investment activities increased by 20.6% to AED855.4 million for the nine-month period ended September 30, 2022, from AED709. AED 3 million for the corresponding period of 2021. It increased by 39.6% for the three-month period. ended September 30, 2022 compared to the corresponding period of 2021; and up 19.1% compared to Q2 2022.
    • Net fees, commissions and other income increased by 20.2% to reach AED302.7 million for the nine-month period ended September 30, 2022, compared to AED251.8 million for the corresponding period of 2021. They increased 3.1% for the three-month period ended September 30, 2022 compared to the corresponding period of 2021.
    • NBF posted record foreign exchange and derivatives revenue of AED142.5 million for the nine-month period ended September 30, 2022, with an exceptional growth of 73.9% from AED82.0 million AED for the corresponding period of 2021. It increased by 45.9% for the three-month period ended September 30, 2022 compared to the corresponding period of 2021.
    • Income from Islamic investments and instruments amounted to AED 19.2 million compared to AED 41.6 million for the corresponding period of 2021.
  • Operating expenses increased by 14.2%, reflecting NBF’s investments in its businesses, systems, infrastructure and people. These investments include a set of digitization initiatives aimed at strengthening our focus on exceptional customer service through digital adoption and innovation. Nonetheless, NBF’s cost-to-income ratio improved to 29.4% from 31.3% for the corresponding period of 2021, after achieving further improvements in productivity. This provides ample flexibility to continue investing in our technology capabilities and improving the customer experience.
  • NBF maintained its policy of careful and transparent recognition of problematic accounts. The group’s small number of exceptional exposures that needed to be resolved are progressing well, in line with the bank’s recovery strategy. NBF obtained net impairment provisions of AED 701.8 million for the nine-month period ended September 30, 2022, compared to AED 654.9 million for the corresponding period of 2021. During the period, the impairment reserve of the bank was reduced by 11.2% to AED 168.5 million from AED 189.7. million euros as of December 31, 2021. The coverage ratio of total provisions (including provisions for impairment) improved to 113.4% from 87.0% as of December 31, 2021. The NPL ratio improved at 7.8% compared to 9.8% as of December 31, 2021 and at the IFRS 9 stage 2 stood at 7.0% compared to 6.1% as of December 31, 2021. Excluding a few exceptional group exposures, the NPL ratio would be reduced at 4.5% (31 December 2021: 5.5%).
  • Loans and advances and Islamic financing receivables increased by 7.7% to reach AED 27.6 billion from AED 25.6 billion at the end of 2021, up 8.5% compared to September 30, 2021.
  • Islamic investments and instruments increased by 35.3% from AED4.4 billion at the end of 2021 to AED5.9 billion as of September 30, 2022, up by 29.2 % compared to September 30, 2021, reflecting the deployment of some excess liquidity to the high quality investment portfolio. to increase shareholder value.
  • The solvency ratio (CAR) stood at 18.0% (Tier 1 ratio of 16.8% and CET 1 ratio of 13.1%) against 19.1% (Tier 1 ratio of 18.0% and CET 1 of 13.8%) at the end of 2021 and is maintained at this high level to support the bank’s ability to meet all challenges arising from the rapidly changing operating landscape.
  • Customer deposits and Islamic customer deposits increased by 1.6% to reach AED32.7 billion from AED32.2 billion at the end of 2021, up 10.7% compared to September 30, 2021. Current and Savings Accounts (CASA) deposits increased by AED 265.0 million compared to 2021 year-end, an increase of 1.7% to reach 15.7 billion AED as of September 30, 2022 and 16.7% from September 30, 2021. CASA deposits improved to a record 47.9% of total customer deposits as of September 30, 2022, mitigating the relevant impact on the cost of deposits.
  • Total assets increased by 3.3% to reach AED 44.4 billion from AED 42.9 billion at the end of 2021, up 8.9% from September 30, 2021.
  • Abundant liquidity was maintained with loan-to-fund ratios stable at 78.8% (2021: 76.5%) and eligible liquid asset ratio (ELAR) at 16.0% (2021: 26.2%) , well ahead of the UAE Central Bank’s minimum requirements.
  • Return on average assets improved to 0.7% from 0.3% for the corresponding period in 2021.
  • Return on average equity improved to 5.4% from 2.1% for the corresponding period in 2021.

Dr. Raja Easa Al Gurg, Vice President, said:

“We are pleased with these encouraging results which demonstrate the continued impact of our business and operational strategy, with positive revenue momentum and solid improvement in asset quality. Good growth in our operating and net performance bodes well for the full year results and beyond, despite continued macroeconomic uncertainty.

Propelled by a strong recovery in business activities, a buoyant real estate sector and a booming hotel sector following an easing of travel restrictions, the UAE is consolidating its position to achieve its fastest annual economic growth since more than a decade in 2022. In this positive market dynamic, NBF is armed and well placed to adapt the growth of its activity.

The Group maintained a strong capital position and healthy balance sheet to confidently navigate the changing operating environment for improved long-term sustainable returns. We are also pleased to see the growing market recognition during the quarter; where FBN was awarded the “Best Cyber ​​Insurance and Resilience Capabilities” award at the Wealth and Investment Summit 2022 organized by MEA Finance. NBF will continue to maintain the highest standards of compliance and risk management practices based on new regulatory changes, digitization initiatives, and information and cybersecurity requirements.

Going forward, NBF will continue to tap into new, quality business opportunities keeping in mind the booming oil sector that will drive the UAE’s accelerated economic growth in 2022; while a strong non-oil sector will provide further impetus through the government’s reform program. In addition, the bank continues to make progress with a number of important initiatives and maintains an increased focus on environmental, social and governance aspects. [ESG] activities that remain fundamental to the FBN franchise for a sustainable future.

-Ends-

About National Bank of Fujairah PJSC:

Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full-service corporate bank with strong expertise in corporate and commercial banking, treasury and trade finance, as well as a growing range of personal banking options and Sharia-compliant services. Leveraging its deep banking experience and market knowledge in Fujairah and the UAE, NBF is well placed to build lasting relationships with its clients and help them achieve their business goals.

The main shareholders of NBF are the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1/Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB/A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Stock Exchange under the symbol “NBF”. It has a branch network of 15 (of which 1 is an electronic banking unit) across the UAE.

For more information, please contact:
Strategic Marketing and Communication Department
Email: CorpComm@nbf.ae

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Research: Rating Action: Moody’s confirms Neolia’s Prime-1 rating https://regiofora.com/research-rating-action-moodys-confirms-neolias-prime-1-rating/ Thu, 20 Oct 2022 20:41:56 +0000 https://regiofora.com/research-rating-action-moodys-confirms-neolias-prime-1-rating/ No related data. © 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved. THE CREDIT RATINGS ISSUED BY MOODY’S CREDIT RATINGS AFFILIATES CONSTITUTE THEIR CURRENT OPINIONS ON THE RELATIVE FUTURE CREDIT RISK OF THE ENTITIES, CREDIT COMMITMENTS, INDEBTEDNESS OR SECURITIES ASSOCIATED WITH INDEBTEDNESS, […]]]>


No related data.

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Managing CKD in the Face of a Growing Diabetes Epidemic, with Amy Mottl, MD https://regiofora.com/managing-ckd-in-the-face-of-a-growing-diabetes-epidemic-with-amy-mottl-md/ Mon, 17 Oct 2022 20:38:06 +0000 https://regiofora.com/managing-ckd-in-the-face-of-a-growing-diabetes-epidemic-with-amy-mottl-md/ New data from the CURE-CKD registry detailing current rates of chronic kidney disease (CKD) has drawn attention to an ongoing problem that has plagued nephrologists for years. Posted in the New England Journal of MedicineThe study results detail a slight decrease in CKD rates in people with diabetes, but the authors called the results “troubling” […]]]>

New data from the CURE-CKD registry detailing current rates of chronic kidney disease (CKD) has drawn attention to an ongoing problem that has plagued nephrologists for years.

Posted in the New England Journal of MedicineThe study results detail a slight decrease in CKD rates in people with diabetes, but the authors called the results “troubling” given the increasing prevalence of diabetes in the US population.

Although CKD rates in this population have died down between 2015 and 2020, the treatment of CKD in people with diabetes has undergone a revolution with revelations of cardiorenal protective benefits associated with the use of SGLT2 inhibitors and the development of the new selective non-steroidal ARM drug finerenone. With these new therapeutic options in hand, one would expect the community to look to the future with optimism, but that is not always the case. Despite these advances, patient education and access, along with a declining workforce, have left nephrologists with a daunting problem with no immediate answer.

At Physicians’ Education Resource’s 6th Annual Cardo-Endo-Renal Collaboration, Endocrinology Network spoke with Amy Mottl, MD, associate professor of medicine at the University of North Carolina School of Medicine, for a deeper perspective on recent data and contemporary trends in IRC.

Endocrinology Network: What has been your reaction to the recent data from the CURE-CKD registry and do you agree with the authors’ assessment that the current rates are “troubling”?

Password : We are progressing. If you look at the most extreme case of end-stage kidney disease, instead of seeing the rates go up, in terms of incidence, we see that they’re starting to at least level off. The prevalence, however, continues to rise because so many people have diabetes, hypertension, and obesity, which is also an independent risk factor for kidney disease.

So it’s extremely disturbing. I think what’s a bit more troubling, just thinking about it from a sociopolitical perspective, is why are we falling behind and really improving outcomes for this large population? This is partly due to the lack of publicity, but also to socio-economically marginalized black and brown communities. These are huge risk factors for CKD and I can’t help but think this has also contributed to the lack of urgency not only to treat but also to test for this disease. Currently, testing rates are terrible. Everybody gets a creatinine because it’s part of a basic metabolic panel, but nobody gets the albumin to creatinine ratio and we really need to increase the uptake of it so we can actually treat people.

Endocrinology Network: What can be done to improve the outlook for CKD in people with diabetes?

Password : I think we’re in real trouble right now because we don’t have enough nephrologists to keep up with the growing CKD population. People no longer turn to nephrology as a specialty like they used to. So we are limited in what we can see and that in itself is problematic. I think there is also a lack of appreciation of what a nephrologist can do for a patient with CKD. Often primary care providers are so stuck up, and they’re really the front lines of our healthcare system, but their patients want to talk about all the things that make them feel physically unwell. So primary care physicians struggle to integrate some of these other factors that play a huge role in that person’s future and prognosis. It’s worrying, but I understand it.

So that’s a problem: primary care providers are just overworked and underpaid. However, there’s also the fact that until recently we didn’t really have much to offer. Now it is completely changed. So hopefully that will start to do a bit of a turnaround as well. I think nephrology is just not very well understood by anyone who is not a nephrologist. Again, what can we do? One thing that gets a bit by the wayside, but is close to my heart, is patient education. I think when patients see a nephrologist and hear an expert talk about their disease and the prognosis it carries, it can really light a fire under people to make lifestyle changes and lifestyle changes are at the heart of the treatment and delay the progression of the disease. .

Editor’s Note: This transcript has been edited for length and clarity.

Click here for more information on upcoming nephrology continuing medical education events from Physicians’ Education Resource!

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First Bank: Staying ahead with technology reinvention https://regiofora.com/first-bank-staying-ahead-with-technology-reinvention/ Sat, 15 Oct 2022 08:28:38 +0000 https://regiofora.com/first-bank-staying-ahead-with-technology-reinvention/ In his book, “The Age of Agile”, Steve Denning, former knowledge management program manager at the World Bank, discusses a “Copernican revolution” in management that highlights why innovations are no longer optional, but a necessity for the success of traditional management. banks. This requires organizational cultural transformation, Denning rightly argues, and especially in banks that […]]]>

In his book, “The Age of Agile”, Steve Denning, former knowledge management program manager at the World Bank, discusses a “Copernican revolution” in management that highlights why innovations are no longer optional, but a necessity for the success of traditional management. banks.

This requires organizational cultural transformation, Denning rightly argues, and especially in banks that have long been guided by traditional measures. The Denning scenario basically sums up the story of FirstBank.

With a rich history dating back to 1894, First Bank under the leadership of Adesola Adeduntan is reinventing itself and tackling its biggest disruptors – fintechs and telecom operators by embracing innovative technologies and introducing more customer-centric experiences and digital for its customers.

As part of its efforts, the bank recently unveiled a fully automated subsidiary FirstBank Digital Experience Center, which has added to its bouquet of digital products such as USSD banking, FirstMobile, WhatsApp banking, among others.

For Adeduntan, at the heart of an agile and resilient business is technological innovation that enables organizations to stay one step ahead.

“The banking industry is very dynamic,” he says in an article published by KPMG, a multinational professional services network and one of the Big Four accounting organizations.

Growing strength

First Bank’s customer accounts grew from around 10 million in 2015 to over 36.9 million in the first quarter of 2022; the bank is also the second largest card issuer in Africa with over 11.9 million cards issued and over 18.6 million active customers on FirstBank’s digital banking platforms.

Top-tier bank ranked 2nd in Nigerian Consumer Digital Banking Satisfaction Index by Agusto & Co, won Best Banking Brand, Nigeria Award by Global Brand and named Investment Bank of the year in Nigeria by BusinessDay.

The bank reported further improvement in its half-year financial performance, with its after-tax profit standing at N56.5 billion in the first half of 2022, the bank’s highest half-year profit in 11 years. .

Beyond digital banking, First Bank’s cost-to-income ratio, a ratio used to determine how efficiently a business is run and how it earns its own organic revenue, remained at an impressive 68% in first half of 2022, an improvement from 56.5% in 2018.

“Amid a challenging operating environment and a dynamic regulatory environment in the first half of 2022, the Commercial Banking Group remained focused on executing key initiatives to position the group for improved profitability in fiscal year 2022. Our half-year results have further strengthened our drive to achieve our ‘quantum leap in profitability’ agenda,” said Adesola Adeduntan, Managing Director of First Bank of Nigeria Limited.

First Bank also recorded net interest income of N152.9 billion, 49.3% higher than the N102.4 billion recorded in the corresponding period of 2021.

Following years of strategic restructuring of its balance sheet and operations, its gross profit also shifted north by 22.43% to N338.5 billion in the first half of 2022, and its total assets grew by 18.7% to reach N9.5 trillion in June 2022. , from the N8.02 trillion recorded the previous year, just as its customer deposits also grew by 24.1% for reach 6.3 trillion naira, compared to 5.1 trillion naira recorded the previous year.

The recent turnaround and improvement in non-performing loans has also been a major boost in its quest to further improve profitability and strengthen its leadership in the financial services industry in Nigeria.

The bank’s customer loans and advances also improved by 43.4% to N3.38 trillion in the year under review from N2.36 trillion the previous year.

The bank has also lowered its NPL ratio significantly, from double digits in 2016 to single digits of 5.4% in the first half of 2022.

The Bank remains committed to its transformation momentum, which has resulted in a stronger balance sheet and improved asset quality, with non-performing loans closing at 5.4% in the first half of 2022. risk remains solid within the Bank, supporting the search for improved earnings for sustainable capital growth.

Bankers Magazine: Best Performing FirstBank in Nigeria

Its new winning streak emerged recently when it was recognized by The Banker Magazine, a Financial Times Limited publication, in the Top 100 African Banks Ranking 2022. The award showed that FirstBank tops the Nigerian rankings in four domains – the highest achieved by any Nigerian bank.

According to the ranking, which is based on the 2021 financial statements, the bank leads its peers in Nigeria in terms of overall performance, profitability, efficiency and return on risk. He was also second in the growth ranking.

The magazine, which explained that its ranking of Africa’s top 100 banks for 2022, demonstrates a broad return to stability for African banks after a torrid year for the continent’s biggest lenders placed FirstBank among other banks in Nigeria because ‘it turned out to be the only bank that led in four areas.

Euromoney ranking: FirstBank, market leader

Additionally, in 2022, Euromoney Market Leaders, an independent global assessment of financial services providers conducted by Euromoney Institutional Investor Plc, crowned FirstBank as a market leader.

The bank has been ranked among the top-tier banks in the areas of Corporate Social Responsibility (CSR).

Not only that, but FirstBank has also become a market leader among tier-one banks in the area of ​​Environmental, Social and Governance (ESG).

In the area of ​​corporate banking and digital solutions, FirstBank was highly rated, as it was crowned as a notable player in SME banking for the period under review.

fitch reviews

Fitch Ratings has raised the long-term issuer default ratings (IDRs) of FirstBank Limited and its parent, First Bank Holdings Plc, from ‘B’ to ‘B’, citing key performance indices including improved capitalization , asset quality and good health. profitability.

According to Fitch, “First Bank’s impaired loan ratio (IFRS 9 Stage 3 loans) declined significantly to 5.6% at the end of the first half of 2022 from a peak of 25% at the end of 2018 in due to significant write-offs, successful restructurings and recoveries and, more recently, the flattering effect of strong loan growth Stage 2 loans remain significant (15% of gross loans at the end of the first half of 2022), but Fitch expects these to decline as oil and gas exposures return to performing Specific loan loss provision coverage of impaired loans (49% at the end of H1 2022) is acceptable considering given its guarantee levels.

The rating agency further noted that FBN Holdings’ fixed charge coverage (FCC) ratio (19.1% at the end of the first half of 2022) has been on an upward trend in recent years, due to strong internal capital generation, which has been influenced by a modest dividend payout ratio, adding that “impaired loans net of specific loan loss provisions have declined as a share of FCC in recent years to a low moderated by 12% at the end of the first half of 2022. Operating profit before impairment is considerable (a 5.1% annualized rate of average gross loans in HY22), providing a reasonable buffer to absorb PFR without affecting capital .

The premier bank, in operation for over 128 years, has been recognized for its dedication and success in banking, corporate philanthropy, socio-economic development, business support and business development. commercial.

In the first five months of this year, the bank gained global recognition when Superbrand International presented FirstBank with the 2022 Superbrand Award for “maintaining tremendous brand perception for 128 years”.

More rewards

Additionally, the International Investor Awards recognized FirstBank as the Best Bank in Nigeria for the year 2022. This follows an independent survey and data from Thomson Reuters. The same survey and data from Thomson Reuters, International Investor Awards also awarded FirstBank the Best Banking Digital Transformation in Nigeria for the year 2022.

FirstBank has won the award for Best Digital Transformation Bank in Nigeria at the International Investor Awards 2022, a print and online publication that provides information, news and visual insights on topics ranging from global markets, investment opportunities , industry analysis and more.

Recently, First Bank of Nigeria Limited announced its commemoration of the 2022 edition of Customer Service Week to be celebrated globally from October 3-7, 2022 with the theme “Celebrating Service”, which will be marked in the bank’s subsidiaries in more than half a dozen. countries, including FBNBank UK, FBNBank Ghana, FBNBank Senegal and FBNBank Gambia. The others are FBNBank Guinea, FBNBank DRC and FBNBank Sierra Leone.

Last year the bank was also honoured, with Most Innovative Retail Banking App in Nigeria 2021 by the Global Banking and Finance Awards, African Bank of the Year 2021 and Innovative Banking Product from the year 2021 by African Leadership Magazine Awards and Best Online Bank in Nigeria 2021. by International Business Magazine added to his inflated profile.

Megamillions
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