Music Commerce – Foxos Music http://foxosmusic.com/ Wed, 12 Jan 2022 12:53:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://foxosmusic.com/wp-content/uploads/2021/06/ICON-1.png Music Commerce – Foxos Music http://foxosmusic.com/ 32 32 Robo.cash lowers interest rates on short-term loans https://foxosmusic.com/robo-cash-lowers-interest-rates-on-short-term-loans/ Wed, 12 Jan 2022 12:53:08 +0000 https://foxosmusic.com/robo-cash-lowers-interest-rates-on-short-term-loans/ Robo.cash has reduced its target yields by up to 1.5% for its short-term loans over the past year, while long-term loans have retained their value. The European peer-to-peer lending platform changed its rates on April 5 and November 25, 2021. The platform also announced a rate change that went into effect on January 10 of […]]]>

Robo.cash has reduced its target yields by up to 1.5% for its short-term loans over the past year, while long-term loans have retained their value.

The European peer-to-peer lending platform changed its rates on April 5 and November 25, 2021. The platform also announced a rate change that went into effect on January 10 of this year.

Analysis by Peer2Peer Financial News found that for loan terms of up to 30 days, Robo.cash reduced interest rates from 10.5% in April to 10% in November and then to 9% on January 10.

Read more: Robo.cash posts annual growth of 227 pc in investment volumes

From November 25 to January 10, interest rates fell for loans of three other terms. For loans within 31 to 60 days, the rates went from 10.5% to 10%, while for those within 61 to 90 days, the rates went from 11% to 10.5% . For loans within 91 to 180 days, the rates went from 11.5 to 11.25 percent.

Meanwhile, from April 5 to January 10, the interest rates for loans with terms between 181 and 365 days remained the same at 12%, and the rates for maturities 366 to 720 remained the same. same at 12.3%.

The platform’s interest rates now vary from 9% to 12.3%, depending on the term chosen.

Read more: Robocash broke fundraising record in November

]]>
Beginner’s Guide to Short-Term Loans with Bad Credit https://foxosmusic.com/beginners-guide-to-short-term-loans-with-bad-credit/ Mon, 10 Jan 2022 13:06:16 +0000 https://foxosmusic.com/?p=2093 Beginner’s Guide to Short-Term Loans with Bad CreditFinding a loan that is short-term in the event of poor credit scores can be a challenge and daunting. But, we’ve simplified the whole procedure to make it easy for those who need to know. These are the characteristics you must look out for when you are considering payday loans on these sites find yourself in […]]]> Beginner’s Guide to Short-Term Loans with Bad Credit

Finding a loan that is short-term in the event of poor credit scores can be a challenge and daunting. But, we’ve simplified the whole procedure to make it easy for those who need to know.

These are the characteristics you must look out for when you are considering payday loans on these sites find yourself in a financial emergency.

Moving towards Credit that is not secured

In general, most times a loan will require collateral that could be your vehicle or your home. If you’re being a victim of poor credit scores then you’re already in a bind. Short-term lenders are aware of this and can assist in resolving the issue by providing loans to people who have poor credit.

The issue is that the rate is quite high and the terms of repayment are very restricting. There is no guarantee that you’ll get any sort of warranty from the other side, and the situation could happen.

Averting payday loans

The primary reason not to take cash advances is because of the high amount of interest rate, also known by the acronym APR. The rate could be up to 400. This could create issues that you’ll need to address in the coming years even though it may appear like a good idea initially.

The amount you must pay in this situation is exactly what it says. You’ll need to repay a percentage of the next month’s income so that you can repay the loan. It can result in an incredibly small amount of money until you’ve paid it in full. Therefore, it is recommended to stay clear of these.

Rapid Financing

If you’re someone with poor credit scores, you will likely have a lot of time to handle. Therefore, it’s recommended to look for loan websites that offer loans whenever you need them, as long as you meet the requirements they’ve set.

Numerous websites will give cash the following day, provided the credentials you have provided are authentic and approved in the timeframe. This could help you solve all your issues quickly without worrying about the timeframe.

Demonstrating Your Competencies

A low credit score can be a problem in your financial statements overall. This could cause problems when seeking loans for people with bad credit generally. However, short-term loan lenders are aware of this, especially when you prove your creditworthiness through other ways.

The correct preparation of tax-related returns and the details of your income and earnings at the moment, the location you work from along with bank statements, statements about your accounts, assets, and accounts, as well as any other information about the savings you have may be able to be used to prove your creditworthiness for the loan.

Flexible Terms for Repayment

It is important to seek out loans that aren’t long-term and have conditions of payment that are in accordance with your needs. If you decide to get loans with shorter time frames for repayment, it may place you in a worse situation than you currently are. Direct lenders offer the option of repayment up to five years.

This will lessen the financial burden of your family, even if you’ll need to pay for the loan for a longer period than you would like. Be sure to select a date that’s not adjustable.

]]>
Dhani Loans NCD Issue with 11% coupon, a good short term bet https://foxosmusic.com/dhani-loans-ncd-issue-with-11-coupon-a-good-short-term-bet/ Thu, 06 Jan 2022 04:04:06 +0000 https://foxosmusic.com/dhani-loans-ncd-issue-with-11-coupon-a-good-short-term-bet/ Details of the DEM: Problem size: Basic issue size: Rs. 150 crore with an option to keep the oversubscription up to Rs. 150 crore totaling Rs. 300 crore in value. Issue period- January 4 January 27 2021 These NBFC subsidiary NCDs are of a secure nature, that is to say backed by a cover of […]]]>

Details of the DEM:

Problem size: Basic issue size: Rs. 150 crore with an option to keep the oversubscription up to Rs. 150 crore totaling Rs. 300 crore in value.

Issue period- January 4 January 27 2021

These NBFC subsidiary NCDs are of a secure nature, that is to say backed by a cover of 1.25 times on principal and interest.

Minimum investment: Rs. 10,000

About Dhani:

About Dhani:

The company is an NBFC registered with RBI and offers a range of offline and online financing facilities. The company is a 100% no depository subsidiary of Dhani Services Limited. As digitization transformed the banking and financial industry, the company recognized a great opportunity and ventured into the retail lending space with Dhani Loans and Services Limited.

Credit rating :

Credit rating :

IVR AA / Stable Outlook – This Infomerics rating indicates low credit risk and therefore there is likely a likelihood of timely servicing of the bonds.

Interest rate and payment term

Interest rate and payment term

Option Duration in months Interest payments Coupon interest Effective yield
I 370 days Cumulative N / A 10.00%
11 24 Annual 10.50% 10.50%
111 24 Accumulation N / A 10.50%
IV 24 Monthly 10.03% 10.50%
v 36 Annual 11.00% 10.99%
VI 36 Accumulation N / A 11.00%
VII 36 Monthly 10.49% 11.00%

Conclusion:

Conclusion:

This is a good bet considering the low interest rate regime with extended security as being of a secure nature. Moreover, the highest coupon rate of 11% for a term of 3 years is a good bet, if at all, the rates even tend to increase over time. However, be careful not to deploy a large portion of your surplus to invest, as the rating of the debenture can change at any time.

Also, when it comes to its finances, the company has been suffering losses for some time, so for some analysts and pundits the higher “A” rating is out of sync. So at best the instrument will be a good bet for investors with a high risk profile.

BonRetours.in

]]>
Opinion: Why Middlesbrough should offer man released from Sheffield on Wednesday a short-term deal https://foxosmusic.com/opinion-why-middlesbrough-should-offer-man-released-from-sheffield-on-wednesday-a-short-term-deal/ https://foxosmusic.com/opinion-why-middlesbrough-should-offer-man-released-from-sheffield-on-wednesday-a-short-term-deal/#respond Fri, 23 Jul 2021 15:18:10 +0000 https://foxosmusic.com/opinion-why-middlesbrough-should-offer-man-released-from-sheffield-on-wednesday-a-short-term-deal/ Middlesbrough has suffered several losses in its goaltending department over the past year. Aynsley Pears joined championship rivals Blackburn Rovers last summer, Tomas Mejias had his contract canceled in January, Jordan Archer was released this summer and last season’s moneylender Marcus Bettinelli is currently attracting interest from Arsenal and from Chelsea. Manager Neil Warnock moved […]]]>

Middlesbrough has suffered several losses in its goaltending department over the past year.

Aynsley Pears joined championship rivals Blackburn Rovers last summer, Tomas Mejias had his contract canceled in January, Jordan Archer was released this summer and last season’s moneylender Marcus Bettinelli is currently attracting interest from Arsenal and from Chelsea.

Manager Neil Warnock moved to tackle this issue already earlier in the summer, with Joe Lumley arriving on a free transfer from Queens Park Rangers when his contract expires at Kiyan Prince Foundation Stadium.

But with Dejan Stojanovic’s future uncertain and Zach Hemming, 21, joining Scottish side Kilmarnock on a one-season loan, Teesside club’s business in the region may not be over just yet.

The number of departures in this area has surprised many Middlesbrough fans and they are hoping for some stability in such a crucial position in the long term.

However, Warnock has recently spoken about his lack of depth in some areas and with the new league season just a few weeks away, the 72-year-old may not be able to fully cope with his goalkeeper situation and put in action a long to long term for this area during this limited period of time.

This lack of time and the need to tackle other key positions could persuade Riverside Stadium officials to put their stop-shooting plans on the back burner for now, until they see what happens with Stojanovic and what happens with Stojanovic. monitor Hemming’s progress in the Scottish Championship.

20 Questions About Some Of The Greatest Moments In Middlesbrough History – Can You Get The Top Mark?

When did the club leave Ayresome Park?




In the meantime, they could simply offer 36-year-old free agent Keiren Westwood, who was released by Sheffield on Wednesday earlier this summer, a one-year contract to increase their depth and second-tier experience in the post.

This period could allow Middlesbrough to assess the young goalkeepers currently playing with the academy and determine who might take the plunge, strategize to ensure their path to the first team is not blocked and to From there, identify targets to fill any remaining gaps if necessary.

And a seasoned man like Westwood would not only bring depth to Riverside Stadium, but also help some of their youngsters and nurture their development as they turn to senior football.

Middlesbrough fans may be hesitant about this possible deal due to the age of the former Sheffield Wednesday goalkeeper – but he has made 54 respectable league appearances in the past three seasons, including 20 in the campaign 2020/21 and would potentially be an easy and cheap deal to make if they decide to pursue it.

The goalkeeper position is also completely different in terms of age compared to other positions – and it doesn’t matter that much that he’s 36 as long as he’s been in good shape since. that he became a free agent.

This short-term fix would leave Lumley and Westwood as Warnock’s two experienced options, which could free a missing Stojanovic to ultimately seal a permanent exit from the Championship.

If that means having one less disgruntled member on their team, that can only be a good thing.

And while Westwood remains at Boro, the club can afford to bide their time and plan carefully ahead of a possible rebuilding of the goalkeeper department in the next transfer window or both, whether or not that includes some of their. academy outlook.

That’s why they should get this easy deal during their search for reinforcements before the end of next month.

The clock is turning.

]]>
https://foxosmusic.com/opinion-why-middlesbrough-should-offer-man-released-from-sheffield-on-wednesday-a-short-term-deal/feed/ 0
Rangers loan star insists short-term exit can help him achieve Ibrox ambitions https://foxosmusic.com/rangers-loan-star-insists-short-term-exit-can-help-him-achieve-ibrox-ambitions/ https://foxosmusic.com/rangers-loan-star-insists-short-term-exit-can-help-him-achieve-ibrox-ambitions/#respond Fri, 23 Jul 2021 13:00:00 +0000 https://foxosmusic.com/rangers-loan-star-insists-short-term-exit-can-help-him-achieve-ibrox-ambitions/ Rangers loan star insists short-term exit can help him achieve Ibrox ambitionsRangers Academy star Kai Kennedy has put an end to rumors about his near-term future by finishing joining the Dunfermline Championship team on a one-season loan – and believes heading to the Fifers may. Helping their way through the plans of Steven Gerrard’s first team at Ibrox. Kennedy was reportedly targeted by Premier League West […]]]> Rangers loan star insists short-term exit can help him achieve Ibrox ambitions

Rangers Academy star Kai Kennedy has put an end to rumors about his near-term future by finishing joining the Dunfermline Championship team on a one-season loan – and believes heading to the Fifers may. Helping their way through the plans of Steven Gerrard’s first team at Ibrox.

Kennedy was reportedly targeted by Premier League West Ham but reportedly headed for East End Park rather than East End London when he signed with Peter Grant’s Pars and the Rangers kid is considering his future in the Gers by relocating in Fife.

“You’re going on loan to prepare and be ready to come back and be a part of the Rangers first team. This is my ambition, ”Kennedy told the Pars website.

Rangers Academy star Lewis Mayo spent last season at East End Park impressively as Stevie Crawford’s side were on the verge of winning a promotion before the former Scottish star’s surprise resignation.

Anthony Joshua vs. Oleksandr Usyk | Official fight trailer

BridTV

3688

Anthony Joshua vs. Oleksandr Usyk | Official fight trailer

https://i.ytimg.com/vi/I0jGmBiykBU/hqdefault.jpg

831868

831868

center

13872

Kennedy believes his colleague Ibrox is a better player for the experience of spending a season in the Championship and insists that leaving the Rangers on loan was the right choice for his career, adding: “He did well and you can. say he’s a better player. for that.

I think the loan was the right thing to do.

The Scottish junior international could make his Dunfermline debut tomorrow when Pars face Stenhousemuir in the Premier Sports Cup.

After impressing in the Championship last season with Raith Rovers and Inverness CT, the 19-year-old will be looking to build on that and be one of the most notable players in the division and help Dunfermline to the title.

Having seen his loan spell at Inverness come to an end early last winter, a streak of good performances in the early months of the season could even see him called up and sent to a higher level club for the remainder of the campaign, concluding with irony; “I want to win every game and play well, I hope I can do it. Whatever happens in January, happens.

In other news, ‘Just crazy’: Pep Lijnders claims 22-year-old tore him apart in Liverpool training

]]>
https://foxosmusic.com/rangers-loan-star-insists-short-term-exit-can-help-him-achieve-ibrox-ambitions/feed/ 0
GCR confirms Coronation Merchant Bank Limited’s long-term and short-term issuer ratings nationwide of A- (NG) / A2 (NG); Outlook stable https://foxosmusic.com/gcr-confirms-coronation-merchant-bank-limiteds-long-term-and-short-term-issuer-ratings-nationwide-of-a-ng-a2-ng-outlook-stable/ https://foxosmusic.com/gcr-confirms-coronation-merchant-bank-limiteds-long-term-and-short-term-issuer-ratings-nationwide-of-a-ng-a2-ng-outlook-stable/#respond Fri, 23 Jul 2021 12:50:38 +0000 https://foxosmusic.com/gcr-confirms-coronation-merchant-bank-limiteds-long-term-and-short-term-issuer-ratings-nationwide-of-a-ng-a2-ng-outlook-stable/ GCR Ratings (“GCR”) has confirmed the long-term and short-term ratings of Coronation Merchant Bank Limited nationwide of A-(NG) and A2(NG) respectively, with a stable outlook. Rated entity Rating class Rating scale Evaluation Outlook Coronation Merchant Bank Limited Long-term issuer national A-(NG) Stable Short-term issuer national A2(NG) Coronation Merchant Bank Limited (“Coronation MB” or “the Bank”) […]]]>

GCR Ratings (“GCR”) has confirmed the long-term and short-term ratings of Coronation Merchant Bank Limited nationwide of A-(NG) and A2(NG) respectively, with a stable outlook.

Rated entity Rating class Rating scale Evaluation Outlook
Coronation Merchant Bank Limited Long-term issuer national A-(NG) Stable
Short-term issuer national A2(NG)

Coronation Merchant Bank Limited (“Coronation MB” or “the Bank”) ratings reflect its funding and adequate liquidity position, as well as strong measures of asset quality, as evidenced by non-performing loans (“NPL”). ) zero since its inception to date. However, these strengths are partially offset by the modest competitive position of the bank, the high concentration of the loan portfolio and the heavy reliance on wholesale funding from financial institutions.

Coronation MB is a significant player in the Nigerian merchant banking sub-sector due to its product / service delivery, loan portfolio and deposit-raising capacity compared to its peers. Drawing on its long experience (having previously operated as a discount house for more than two decades) and its partnerships, the bank guarantees a constant improvement of its operational scale, especially in the area of ​​trade finance. Given its relatively small customer base and the trends observed in the merchant banking sub-sector, a high concentration risk is perceived, with the twenty largest debtors and depositors representing respectively 85.0% and 75.4% of gross loans and customer deposits in fiscal year 20. In addition, the bank had a moderate market share in the Nigerian banking sector in terms of total assets, customer deposits and loan portfolio. , which are estimated at 0.8%, 0.7% and 0.7% respectively for fiscal year 20. Management and governance are a neutral rating factor.

Capitalization is assessed at an intermediate level. GCR’s calculated capital ratio stood at 17.6% in FY20 (FY19: 19.8%) and is expected to moderate to 16% to 17% over the next 12-18 months. given the superior growth of risk-weighted assets versus internal capital generation. Profit quality is considered negative, reflected by the risk of income stability characterized by high concentration of sources and significant exposure to market sensitive income, which accounted for 42.5% of total operating income during year 20 (year 19: 41.3%).

The risk position is strong and a key rating strength, supported by the bank’s zero NPL since inception to date and moderate 0.2% credit losses during FY20, which compare favorably overall the industry average of about 3%. Early assessments of the potential impact of the COVID-19 pandemic have indicated that the bank will not be immune to industry challenges, including asset quality issues and slower loan repayments. However, this impact has so far been minimal as the bank made no recourse to regulatory forbearance during the period. That said, we expect bad debts and credit losses to remain in a similar high range over the rating horizon thanks to the maintenance of strict underwriting criteria and the recovery of the macroeconomic environment. Conversely, the loan portfolio is considered highly concentrated, with the top twenty debtors accounting for 85% of the loan portfolio in FY20. Although this is a rating limiting factor and typical investment banks in Nigeria, management expects this concentration to moderate somewhat in the short to medium term due to the recent expansion of sector coverage. GCR is also aware of the bank’s significant market risk exposures given the substantial market-sensitive income earned in fiscal year 20.

Coronation MB’s funding base is considered adequate, mainly bolstered by the first naira 25 billion unsecured subordinated bonds issued in 2020, as well as by improving its deposit-raising capacity. As a result, GCR’s long-term funding ratio and stable funding ratio were robust at 80.8% and 73.1% respectively in FY20. If we take into account the significant growth (41.3%) in customer deposits during fiscal year 20, the concentration risk is obvious, with the top twenty depositors representing 75.4% of the deposit portfolio, most of which came from financial institutions. Positively, the liquidity position is strong, with GCR’s liquid assets covering wholesale funding and customer deposits respectively by 3.9x and 53.1% during FY20.

The stable outlook reflects GCR’s expectations that Coronation MB’s asset quality metrics will remain strong despite tensions in the operating environment, although the concentration of the loan portfolio by obligor remains high. GCR’s calculated capital ratio is expected to moderate to 16-17% over the next 12-18 months, as we expect the superior growth of risk-weighted assets relative to capital generation. internal continues to weigh on capitalization measures. However, GCR will positively view a significant improvement in core earnings over the rating horizon. While we expect liquidity to remain strong, diversifying the deposit portfolio with a better mix of clients from non-financial institutions would be viewed positively.

Ratings could be upgraded if Coronation MB significantly improves its core earnings and achieves a core capital ratio above 20% on a sustainable basis, while maintaining strong asset quality metrics. In addition, GCR would positively consider a well-diversified loan portfolio and funding base. Conversely, a downward rating movement could be triggered by a significant deterioration in the calculated capital ratio GCR to less than 15%, pressures on asset quality and increased dependence on the financing of wholesale financial institutions.

]]>
https://foxosmusic.com/gcr-confirms-coronation-merchant-bank-limiteds-long-term-and-short-term-issuer-ratings-nationwide-of-a-ng-a2-ng-outlook-stable/feed/ 0
BSP fully adjudicates short-term effects https://foxosmusic.com/bsp-fully-adjudicates-short-term-effects/ https://foxosmusic.com/bsp-fully-adjudicates-short-term-effects/#respond Fri, 23 Jul 2021 09:52:47 +0000 https://foxosmusic.com/bsp-fully-adjudicates-short-term-effects/ NB FILE PHOTO CENTRAL BANK fully allocated its 28-day bond offering on Friday, with yields falling amid strong investor appetite for safe assets amid concerns over the Delta variant of coronavirus disease 2019 (COVID-19) . The Bangko Sentral ng Pilipinas (BSP) on Friday allocated 100 billion pesos as expected in one-month bills. Demand reached 162.51 […]]]>
NB FILE PHOTO

CENTRAL BANK fully allocated its 28-day bond offering on Friday, with yields falling amid strong investor appetite for safe assets amid concerns over the Delta variant of coronavirus disease 2019 (COVID-19) .

The Bangko Sentral ng Pilipinas (BSP) on Friday allocated 100 billion pesos as expected in one-month bills. Demand reached 162.51 billion pesos, lower than the 186.61 billion pesos in tenders seen in the previous auction.

Lenders have asked for yields ranging from 1.745% to 1.7705%, down from the 1.77% to 1.789% band recorded in last week’s auction. This lowered the average one-month paper rate by 2.42 basis points to 1.7602% from 1.7844% previously.

BSP bills and the term deposit facility are used by the central bank to pool excess liquidity in the financial system and steer market rates.

Yields on BSP securities have declined amid demand for safe-haven securities amid tighter government-imposed restrictions amid an increase in Delta variant infections in the country, Rizal chief economist said Commercial Banking Corp. Michael L. Ricafort.

The high bids for BSP securities also reflect excess liquidity in the financial system, Ricafort added.

Presidential spokesman Herminio L. Roque, Jr. said on Friday that metro Manila would be placed under general community quarantine “with increased restrictions” until July 31.

There were 47 recorded cases of the Delta variant in the Philippines as of Thursday, where eight are active while three have died. – LWT Noble

]]>
https://foxosmusic.com/bsp-fully-adjudicates-short-term-effects/feed/ 0
DLP wants better for short-term workers without NIS https://foxosmusic.com/dlp-wants-better-for-short-term-workers-without-nis/ https://foxosmusic.com/dlp-wants-better-for-short-term-workers-without-nis/#respond Thu, 22 Jul 2021 18:00:40 +0000 https://foxosmusic.com/dlp-wants-better-for-short-term-workers-without-nis/ The Democratic Labor Party fears that many Barbadians who have found short-term employment and are paid by the government may not be eligible for National Insurance Benefits (NIS). This is because no NIS dues are paid forthese workers. Addressing the issue, DLP Senior Vice President Ryan Walters said Today’s case he had received a number […]]]>

The Democratic Labor Party fears that many Barbadians who have found short-term employment and are paid by the government may not be eligible for National Insurance Benefits (NIS). This is because no NIS dues are paid for
these workers.

Addressing the issue, DLP Senior Vice President Ryan Walters said Today’s case he had received a number of complaints from workers concerned about the lack of a safety net.

“The Democratic Labor Party urges the government to operate to the same standards it wishes to apply to the private sector. Repeated reports reaching us from injured and disappointed workers indicate that while they are grateful to be employed, they would have liked to benefit from contributions to NIS in the same way that permanent workers benefit.

THE CASE of today ‘ Investigations found that the National Conservation Commission (NCC) had not paid in NIS for its more than 360 employees as part of the national clean-up program which was launched in 2019. Reports also indicate that the Department of Personal Empowerment and Seniors Affairs reportedly followed the trend and did not contribute to the NIS for some new home help program workers.

Likewise, the workers who were employed in the ash cleanup project who also worked with some of the salvage efforts for Hurricane Elsa and those in the Drainage Unit also seem to suffer a similar fate.

The DLP business spokesperson called on Minister Colin Jordan to fix the problem and find a solution for the workers.

“The Democratic Labor Party is disgusted by this approach to the way the government treats work and calls on Minister Collin Jordan to quickly remedy this unfortunate situation,” he said.

Walters said the government owes a duty of care to all citizens and called for an immediate end to the practice as it affects workers’ chances of getting a pension.

“The reality is that employees are at a disadvantage when their employers do not pay NIS contributions. They are not entitled to sickness benefit or unemployment benefit.

Moreover, the government does not allow these people to accumulate the minimum contributions necessary to be able to earn an NIS pension when they reach retirement age.

He added: “That in itself has a big backlash for those hard-working citizens, who if this trend continues, will not be able to collect a government pension or will have to ‘jump through the hoops’ to qualify for a pension from the government. non-contributory old age although they have worked over the years.

The Vice President also took the opportunity to reiterate the DLP’s call for full disclosure of NIS finances. “The DLP is also appealing to the government again, as we did in November 2020 for an actuarial review of the National Insurance Scheme.

A review that is long overdue, because according to Article 34 of the Law on National Insurance and Social Security, an actuarial review of the national insurance scheme should be carried out every three years.

“Two actuarial reports are now pending and with the devastation reported to the plan over the past 15 months and the government’s $ 1.3 billion haircut in debt restructuring, the public must be brought up to speed. update on the state of this important government agency, ”Walters mentioned. (BMI)

Read our ePaper. Quick. Factual. Free.

Sign up and stay up to date with Barbados FREE recent news.

]]>
https://foxosmusic.com/dlp-wants-better-for-short-term-workers-without-nis/feed/ 0
GCR Confirms Coronation MB’s National Long-Term and Short-Term Issuer Ratings; Outlook stable https://foxosmusic.com/gcr-confirms-coronation-mbs-national-long-term-and-short-term-issuer-ratings-outlook-stable/ https://foxosmusic.com/gcr-confirms-coronation-mbs-national-long-term-and-short-term-issuer-ratings-outlook-stable/#respond Thu, 22 Jul 2021 08:37:28 +0000 https://foxosmusic.com/gcr-confirms-coronation-mbs-national-long-term-and-short-term-issuer-ratings-outlook-stable/ GCR Ratings (“GCR”) has confirmed the long-term and short-term ratings of Coronation Merchant Bank Limited nationwide of A-(NG) and A2(NG) respectively, with a stable outlook. Rated entity Rating class Rating scale Evaluation Outlook Coronation Merchant Bank Limited Long-term issuer national A-(NG) Stable Short-term issuer national A2(NG) Coronation Merchant Bank Limited (“Coronation MB” or “the bank”) […]]]>

GCR Ratings (“GCR”) has confirmed the long-term and short-term ratings of Coronation Merchant Bank Limited nationwide of A-(NG) and A2(NG) respectively, with a stable outlook.

Rated entity

Rating class

Rating scale

Evaluation

Outlook

Coronation Merchant Bank Limited

Long-term issuer

national

A-(NG)

Stable

Short-term issuer

national

A2(NG)

Coronation Merchant Bank Limited (“Coronation MB” or “the bank”) ratings reflect its funding and adequate liquidity position, and sound asset quality measures, as evidenced by non-performing loans (“NPL”) since. its creation to date. However, these strengths are partially offset by the modest competitive position of the bank, the high concentration of the loan portfolio and the heavy reliance on wholesale funding from financial institutions.

Coronation MB is a significant player in the Nigerian merchant banking sub-sector due to its product / service delivery, loan portfolio and deposit-raising capacity compared to its peers. Drawing on its long experience (having previously operated as a discount house for more than two decades) and its partnerships, the bank guarantees a constant improvement of its operational scale, especially in the area of ​​trade finance. Given its relatively small customer base and the trends observed in the merchant banking sub-sector, a high concentration risk is perceived, with the twenty largest debtors and depositors representing respectively 85.0% and 75.4% of gross loans and customer deposits in fiscal year 20. In addition, the bank had a moderate market share in the Nigerian banking sector in terms of total assets, customer deposits and loan portfolio. , which are estimated at 0.8%, 0.7% and 0.7% respectively for fiscal year 20. Management and governance are a neutral rating factor.

Capitalization is assessed at an intermediate level. The GCR calculated capital ratio stood at 17.6% in FY20 (FY19: 19.8%) and is expected to moderate to 16% to 17% over the next 12-18 months. given the superior growth of risk-weighted assets vis-à-vis the generation of internal capital. Profit quality is considered negative, reflected by the risk of income stability characterized by high concentration of sources and significant exposure to market sensitive income, which accounted for 42.5% of total operating income during year 20 (year 19: 41.3%).

The risk position is strong and a key rating strength, supported by the bank’s zero NPL since inception to date and moderate 0.2% credit losses during FY20, which compare favorably overall the industry average of about 3%. Early assessments of the potential impact of the COVID-19 pandemic have indicated that the bank will not be immune to industry challenges, including asset quality issues and slower loan repayments. However, this impact has so far been minimal as the bank made no recourse to regulatory forbearance during the period. That said, we expect bad debts and credit losses to remain in a similar high range over the rating horizon thanks to the maintenance of strict underwriting criteria and the recovery of the macroeconomic environment. Conversely, the loan portfolio is considered highly concentrated, with the top twenty debtors accounting for 85% of the loan portfolio in FY20. Although this is a rating limiting factor and typical investment banks in Nigeria, management expects this concentration to moderate somewhat in the short to medium term due to the recent expansion of sector coverage. GCR is also aware of the bank’s significant market risk exposures given the substantial market-sensitive income earned in fiscal year 20.


Coronation MB’s funding base is considered adequate, mainly bolstered by the first naira 25 billion unsecured subordinated bonds issued in 2020, as well as by improving its deposit-raising capacity. As a result, GCR’s long-term funding ratio and stable funding ratio were robust at 80.8% and 73.1% respectively in FY20. If we take into account the significant growth (41.3%) in customer deposits during fiscal year 20, the concentration risk is obvious, with the top twenty depositors representing 75.4% of the deposit portfolio, most of which came from financial institutions. Positively, the liquidity position is strong, with GCR’s liquid assets covering wholesale funding and customer deposits respectively by 3.9x and 53.1% during FY20.

The stable outlook reflects GCR’s expectations that Coronation MB’s asset quality metrics will remain strong despite tensions in the operating environment, although the concentration of the loan portfolio by obligor remains high. GCR’s calculated capital ratio is expected to moderate to 16-17% over the next 12-18 months, as we expect the superior growth of risk-weighted assets relative to internal capital generation will continue to grow. weigh on capitalization measures. However, GCR will positively view a significant improvement in core earnings over the rating horizon. While we expect liquidity to remain strong, diversifying the deposit portfolio with a better mix of clients from non-financial institutions would be viewed positively.

Ratings could be upgraded if Coronation MB significantly improves its core earnings and achieves a core capital ratio above 20% on a sustainable basis, while maintaining strong asset quality metrics. In addition, GCR would positively consider a well-diversified loan portfolio and funding base. Conversely, a downward rating movement could be triggered by a significant deterioration in the calculated capital ratio GCR to less than 15%, pressures on asset quality and increased dependence on the financing of wholesale financial institutions.

Proshare Nigeria Pvt.  Ltd.

Related news

  1. Coronation Merchant Bank lists N25 billion in bonds on NGX
  2. Fitch Rate Coronation Merchant Bank Limited at “B-”; Negative outlook
  3. FMDQ Exchange admits Coronation Merchant Bank Limited commercial papers on its platform
  4. Coronation Merchant Bank Commercial Paper Series XV and XVI are now open
  5. Fitch Rate Coronation Merchant Bank Limited at “B-”; Negative outlook
  6. Coronation Merchant Bank launches mobile banking app
  7. Coronation Merchant Bank Hosts Forum to Discuss Impact of COVID-19 and Falling Oil Prices
  8. Coronation Merchant Bank Hosts Virtual AGM and Appoints Substantial Managing Director
  9. IFC Partners with Coronation Merchant Bank to Boost Trade Finance in Nigeria
  10. Coronation Merchant Bank named Customs Revenue Collection Bank by Nigeria Customs Service
  11. Coronation Merchant Bank Commercial Paper Series V and VI Issuance Now Open
  12. Coronation Merchant Bank to Focus on Reducing Infrastructure Gap in Nigeria – Abu Jimoh
  13. Coronation Merchant Bank Group Reports 46% Non-Interest Profit Growth for Fiscal 2018
  14. The Coronation Merchant Bank inaugurates the Banking & Finance Academy

Proshare Nigeria Pvt.  Ltd.

]]>
https://foxosmusic.com/gcr-confirms-coronation-mbs-national-long-term-and-short-term-issuer-ratings-outlook-stable/feed/ 0
Bajaj Finance stock price: Bajaj Finance stock could underperform in the short term https://foxosmusic.com/bajaj-finance-stock-price-bajaj-finance-stock-could-underperform-in-the-short-term/ https://foxosmusic.com/bajaj-finance-stock-price-bajaj-finance-stock-could-underperform-in-the-short-term/#respond Thu, 22 Jul 2021 05:57:00 +0000 https://foxosmusic.com/bajaj-finance-stock-price-bajaj-finance-stock-could-underperform-in-the-short-term/ While we remain positive in the medium to long term, the stock may underperform in the short term, said Dipan Mehta, director of Elixir Equities in this conversation. Edited excerpts: What is the prognosis for the market? Beautiful days to come?We are tracking global indices right now. Intuitively, we get a little cautious from this […]]]>
While we remain positive in the medium to long term, the stock may underperform in the short term, said Dipan Mehta, director of Elixir Equities in this conversation. Edited excerpts:


What is the prognosis for the market? Beautiful days to come?
We are tracking global indices right now. Intuitively, we get a little cautious from this point on. I think we need a little correction or sideways movement (movement) because a lot of foam is building up in the market. I’m not comfortable with the way primary markets suck cash. The valuation of IPOs is a sign that a peak is also being created in the secondary market.

All in all, we should be prepared for some disappointments in this results season. The next 4-6 weeks could be a little tough for the stock markets.

Nifty could climb 100 to 200 points or so, but I don’t want to participate in this rally.

Bajaj Finance saw a spike in its auto finance APNs. They expect sequential loan growth for the second quarter, but at the same time they say they expect additional NPAs in the second quarter and NIMs to stabilize only in the second half.
The gains are extremely disappointing. As we and our clients are invested, we may feel the pain over the next few trading sessions. This type of postcode was not foreseen, in particular on the side of commercial vehicles. 19% is a lot more and it shows the kind of stress that is present in the books. We have positive news from Bajaj Finance regarding how their new digital initiatives are picking up and what launches have been made. I would be a little careful on Bajaj Finance. Valuations are higher and any disappointment like this could be severely punished. So I am a little cautious about the stock. Although we remain positive in the medium to long term, the stock could underperform in the short term.

Do you think that in the medium term, the outperformance of banks will now change with the return of business growth and the start of the investment cycle?
We are in earnings season and everything we have seen from Bajaj Finance and HDFC Bank means we need to be careful on the whole banking industry and NBFC. Let’s not jump at the gun. I don’t think the stock market is going anywhere right now. We have the luxury of waiting for these companies to report their numbers, analyze them and form a more informed opinion. Whether it’s SBI, HDFC, Axis, or ICICI, the best strategy is to wait and look at the numbers.

You may have some negative surprises even in SBI or ICICI, given what happened in Bajaj Finance and HDFC Bank. In the banking and NBFC space, you have to be extremely careful. Let the dust settle. Maybe give it another quarter and see if the collection efficiency has increased, if the post codes are under control, then take a call.

Stocks can rebound 5-20% but you will have a good risk / reward profile and you won’t have to deal with bad news from Wave 2. I am therefore becoming a little cautious about the banking sector as a whole. This is part of the reason why we are also a little negative on the immediate short term trend of the market.

]]>
https://foxosmusic.com/bajaj-finance-stock-price-bajaj-finance-stock-could-underperform-in-the-short-term/feed/ 0