Three-year performance trend has shown that value of transaction done by FBN Securities Limited at the Nigerian Stock Exchange (NSE) has consistently increased.
For instance, in 2011 value of deals by the company stood at N19.5billion, and accounted for 1.55 percent of the total value of deals done at the Nigerian bourse. In 2012, it increased to N23.3billion accounting for 1.77 percent of the total value of deals at the NSE in the review year.
The latest, in 2013 FBN Securities accounted for N79.0billion worth of deals or 3.82 percent of the total value of deals done at the Nigerian Stock Exchange.
Ranking by the Nigerian Stock Exchange on dealing member firms that controlled the stock market last year (in terms of value and volume) shows that in value of deals, FBN Securities moved up from 11th position in 2012 to 4th position in 2013.
The firm trailed other top stockbroking firms like Stanbic IBTC Stockbrokers (1st), RenCap Securities Nigeria Limited (2nd) and CSL Stockbrokers Limited (3rd).
According to the ranking, FBN Securities was followed by BGL Securities Limited, while Cordros Capital Limited came 6th in the value of deals ranking of broker dealer firms at the NSE last year.
Others are: Chapel Hill Denham Management Limited (7th); Vetiva Capital Management Limited (8th); Partnership Securities Limited (9th) and Meristem Securities Limited (10th).
Prior to the release of this ranking by the NSE, analysts at FBN Capital while presenting 2014 economic forecasts at …‘minimum standards to define competitive baseline for broker-dealer firms’ their 3rd annual said they expect a modest multiple expansion in Nigerian equities.
While giving the firm’s 2014 outlook on equity/fixed income at the conference themed: ‘Tomorrow’s Nigeria through Economic Empowerment’ Olubunmi Asaolu, head, equity research, FBN Capital said “that at current levels, risk-reward appears slightly more favourable in fixed income instruments than equities. Within equities, banks and the cement industries are slightly favoured over consumer goods by FBN Capital.”
