Get it on Google Play

BUSINESS: Zenith Bank Is Best Performing Bank

Updated Wednesday 2 August 2017 12:13
BUSINESS: Zenith Bank Is Best Performing Bank
Zenith Bank Plc, Ecobank Transactional Incorporated Plc, and Guaranty Trust Bank Plc (GTBank) lead 13 others to emerge as best performing stocks in the banking sector in July.

Did you know? You can comment on this post! Just scroll down

As at the close of trading on Monday, July 31, the stock price of ETI added 18.1 per cent or N2.25 per share to close at N16.50 from opening figure of N13.97. Similarly, prices of Zenith Bank and GTBank shares appreciated by 17.8 per cent and 12.1 per cent in July respectively.

Price appreciation in banks leveraged Nigerian Stock Exchange Banking Index growth of about per cent from 397 basis points to 445.33 basis points in July, an increase of 12.2 per cent or 48.33 basis points. It implies that the NSE banking Index has appreciated by 63.3 per cent and 171.01 basis points in seven months from 274.32 basis points it opened for trading in 2017.

Other financial institution with stock price appreciation includes Skye bank Plc, United Bank For Africa Plc, Access Bank Plc and Stanbic IBTC Holdings Plc.

The stock price of Skye Bank added 13 per cent or N0.08 to close at N0.68 while United Bank for Africa rose by 10.7 per cent or N0.94 to close in July at N9.70 from N8.76 it opened. Access Bank stock’s price added 8.1per cent or N0.75 to close at N10.05 per share. Furthermore, the stock price of Stanbic IBTC Holdings increased by 8.8 per cent or N2.90 to close July at N35.90.

Despite impressive profitability in the half year ended June 2017, the stock price of Diamond Bank inched up by four per cent or N0.05 to close at N1.29. The interim report and accounts of Diamond Bank showed significant growth in all key financial parameters as profit before tax surged year-on-year by 2.8 per cent to N10.8 billion, this followed the leapfrogging of gross income over total expenses during the period under review.

Commenting on the bank’s stock performance, chief executive officer, Diamond Bank, Uzoma Dozie stated that despite the economic headwind, the Bank would remain resilient and sustain the positive growth throughout the two remaining business quarters.

Article Posted 6 Years ago. You can post your own articles and it will be published for free. No Registration is required! But we review before publishing! Click here to get started

Love This? Share It!

One Favour Please! Subscribe To Our YouTube Channel!

468k

Cook Amazing Nigerian Dishes, Follow Adorable Kitchen YouTube Channel!

1.1m

Like us on Facebook, Follow on Twitter

React and Comment

Click Here To Hide More Posts Like This

Watch and Download Free Mobile Movies, Read entertainment news and reports, Download music and Upload your own For FREE. Submit Your Content to be published for you FREE! We thrive on user-submitted content! But we moderate!

Get it on Google Play
Attention
We use cookies to serve you better. We have to let you know this in accordance with EU laws. You accept our terms and conditions by using this platform. Please Click on the OK button below to hide this message