ETI
Investo's verdict, shared with you
ETI trades at ₦71 per share, a 51% discount to our base fair value of ₦144.30, driven primarily by a P/B-anchored framework (50% weight) that reflects the bank's 22.2% ROE against a peer median book multiple of 1.55x — a valuation gap that appears structurally wide rather than warranted by fundamentals. With Q2-2026 annualised revenue of ₦1.28 trillion and PAT of ₦296 billion on a ₦35.6 trillion asset base, the underlying earnings engine remains productive. Our committee score reads 'constructive' with positive signals on value, momentum, and valuation gap, supporting an accumulate stance for investors with a 12-month horizon.
Verdict published 2026-10-30 · fundamentals through Q2-2026 · reviewed as the data changes
Published with 1 open flag · confidence downgraded
A per-share input was repaired or refused
One of the per-share figures behind this valuation did not agree with the audited totals it should reconcile to, so it was recomputed from those totals or rejected outright.
confidence leans on the vendor snapshot, not on our own filings: vendor snapshot as of 2026-10-28 corroborated (agrees with our filing-derived EPS); credited 6 because we hold 1 clean annual year(s) of our own
Source: NGX live market data · Investo intelligence. Educational only — not financial advice.