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  •  Jaiz Bank has appointed Dr Sirajo Salisu as its Managing Executive Officer the Company Secretary Mohammed Shehu said in a statement in Lagos on Monday Shehu in the statement made available to the Nigerian Exchange Ltd NGX said that the appointment would take effect from Oct 16 Salisu is to replace incumbent Managing Director Malam Hassan Usman who is retiring same date Until his appointment Salisu was the Executive Director Business Development North He is a Certified Risk Manager CRM Fellow Institute of Credit Administration FICA and honorary senior manager Chartered Institute of Bankers of Nigeria CIBN He started his banking career in 1992 with Inland Bank Plc as a supervisor and rose to the position of General Manager in 2009 with First Inland Bank Plc While in the services of the bank he held various management positions in operations credit administration and business development before becoming Regional Manager FCT Abuja In 2009 he was appointed as Mnaging Arab Gambian Islamic Bank AGIB a position he occupied till January 2015 Salisu joined Jaiz Bank in 2016 and served as the Regional Manager South while supervising the treasury department of the bank In 2018 he was appointed Chief Risk Officer of the bank and later elevated to the position of Executive Director NewsSourceCredit NAN
    Jaiz Bank gets new MD
     Jaiz Bank has appointed Dr Sirajo Salisu as its Managing Executive Officer the Company Secretary Mohammed Shehu said in a statement in Lagos on Monday Shehu in the statement made available to the Nigerian Exchange Ltd NGX said that the appointment would take effect from Oct 16 Salisu is to replace incumbent Managing Director Malam Hassan Usman who is retiring same date Until his appointment Salisu was the Executive Director Business Development North He is a Certified Risk Manager CRM Fellow Institute of Credit Administration FICA and honorary senior manager Chartered Institute of Bankers of Nigeria CIBN He started his banking career in 1992 with Inland Bank Plc as a supervisor and rose to the position of General Manager in 2009 with First Inland Bank Plc While in the services of the bank he held various management positions in operations credit administration and business development before becoming Regional Manager FCT Abuja In 2009 he was appointed as Mnaging Arab Gambian Islamic Bank AGIB a position he occupied till January 2015 Salisu joined Jaiz Bank in 2016 and served as the Regional Manager South while supervising the treasury department of the bank In 2018 he was appointed Chief Risk Officer of the bank and later elevated to the position of Executive Director NewsSourceCredit NAN
    Jaiz Bank gets new MD
    Economy2 months ago

    Jaiz Bank gets new MD

    Jaiz Bank has appointed Dr Sirajo Salisu as its Managing Executive Officer, the Company Secretary, Mohammed Shehu, said in a statement in Lagos on Monday. 

    Shehu, in the statement made available to the Nigerian Exchange Ltd.(NGX), said that the appointment would take effect from Oct. 16.Salisu is to replace incumbent Managing Director, Malam Hassan Usman, who is retiring same date.

    Until his appointment, Salisu was the Executive Director, Business Development (North).

    He is a Certified Risk Manager (CRM), Fellow, Institute of Credit Administration (FICA), and honorary senior manager, Chartered Institute of Bankers of Nigeria (CIBN).

    He started his banking career in 1992 with Inland Bank Plc as a supervisor and rose to the position of General Manager in 2009 with First Inland Bank Plc.While in the services of the bank, he held various management positions in operations, credit administration and business development, before becoming Regional Manager, FCT, Abuja.

    In 2009, he was appointed as Mnaging , Arab Gambian Islamic Bank (AGIB), a position he occupied till January, 2015.Salisu joined Jaiz Bank in 2016 and served as the Regional Manager (South), while supervising the treasury department of the bank. 

    In 2018, he was appointed Chief Risk Officer of the bank and later elevated to the position of Executive Director.


    NewsSourceCredit: NAN

  •  The Nigerian Exchange Ltd NGX began the week on a losing note as market capitalisation shed N19 billion or 0 07 per cent to close at N26 667 trillion from N26 686 trillion on Friday Also All Share Index dropped by 35 21 basis point or 0 07 per cent to close at 49 440 21 from 49 475 42 recorded at the previous session The year to date YTD return fell to 15 74 per cent Analysts at GTI Research said Domestic market begins the week negative as Investors reaction to inflation spike continues We expect cautious trading to continue while investors adjust to the new 20 52 per cent inflation rate The market breath closed flat as as 11 stocks advanced and 11 stocks declined E Tranzact International led the gainers table during the day gaining by 9 97 per cent to close at N3 20 per share Academy Press followed with a gain of 9 52 per cent to close at N1 84 while Vitafoam inched higher by five per cent to close at N21 per share Honeywell Flour Mill grew by 3 36 per cent to close at N2 46 per share Cornerstone Insurance appreciated by 3 33 per cent to close at 62k per share On the other hand Associated Bus Company topped the losers chart depreciating by 10 per cent to close at 27k per share University Press trailed with a loss of 9 44 per cent to close at N1 63 while Mutual Benefits Assurance declined by 6 90 per cent to close at 27k per share RT Briscoe was down by 6 25 per cent to close at 30k while Courteville Business Solutions lost by 6 12 per cent to close at 40k per share Investors traded a total of 67 37 million shares valued at N1 48 billion in 3 386 deals representing 37 33 per cent decrease in volume This was against the 107 49 million shares worth N1 15 billion exchanged in 3 303 deals the previous trading day First Bank of Nigeria Holdings was the most active stock exchanging 9 67 million shares worth N96 56 million Zenith Bank followed with an account of 9 25 million shares valued at N182 39 million while Guaranty Trust Holding Company GTCO sold 6 11 million shares valued at N120 4 million Mutual Benefits traded 4 49 million shares worth N1 25 million while Sovereign Trust Insurance exchanged 2 95 million shares worth N797 719 NewsSourceCredit NAN
    Nigerian bourse begins week negative, indices down 0.07%
     The Nigerian Exchange Ltd NGX began the week on a losing note as market capitalisation shed N19 billion or 0 07 per cent to close at N26 667 trillion from N26 686 trillion on Friday Also All Share Index dropped by 35 21 basis point or 0 07 per cent to close at 49 440 21 from 49 475 42 recorded at the previous session The year to date YTD return fell to 15 74 per cent Analysts at GTI Research said Domestic market begins the week negative as Investors reaction to inflation spike continues We expect cautious trading to continue while investors adjust to the new 20 52 per cent inflation rate The market breath closed flat as as 11 stocks advanced and 11 stocks declined E Tranzact International led the gainers table during the day gaining by 9 97 per cent to close at N3 20 per share Academy Press followed with a gain of 9 52 per cent to close at N1 84 while Vitafoam inched higher by five per cent to close at N21 per share Honeywell Flour Mill grew by 3 36 per cent to close at N2 46 per share Cornerstone Insurance appreciated by 3 33 per cent to close at 62k per share On the other hand Associated Bus Company topped the losers chart depreciating by 10 per cent to close at 27k per share University Press trailed with a loss of 9 44 per cent to close at N1 63 while Mutual Benefits Assurance declined by 6 90 per cent to close at 27k per share RT Briscoe was down by 6 25 per cent to close at 30k while Courteville Business Solutions lost by 6 12 per cent to close at 40k per share Investors traded a total of 67 37 million shares valued at N1 48 billion in 3 386 deals representing 37 33 per cent decrease in volume This was against the 107 49 million shares worth N1 15 billion exchanged in 3 303 deals the previous trading day First Bank of Nigeria Holdings was the most active stock exchanging 9 67 million shares worth N96 56 million Zenith Bank followed with an account of 9 25 million shares valued at N182 39 million while Guaranty Trust Holding Company GTCO sold 6 11 million shares valued at N120 4 million Mutual Benefits traded 4 49 million shares worth N1 25 million while Sovereign Trust Insurance exchanged 2 95 million shares worth N797 719 NewsSourceCredit NAN
    Nigerian bourse begins week negative, indices down 0.07%
    Economy2 months ago

    Nigerian bourse begins week negative, indices down 0.07%

    The Nigerian Exchange Ltd., (NGX) began the week on a losing note as market capitalisation shed N19 billion or 0.07 per cent to close at N26.667 trillion from N26.686 trillion on Friday.

    Also, All-Share Index dropped by 35.21 basis point or 0.07 per cent to close at 49,440.21 from 49,475.42 recorded at the previous session.

    The year-to-date (YTD) return fell to 15.74 per cent.

    Analysts at GTI Research said, “Domestic market begins the week negative as Investors reaction to inflation spike continues.

    “We expect cautious trading to continue while investors adjust to the new 20.52 per cent inflation rate.

    ” The market breath closed flat as as 11 stocks advanced and 11 stocks declined.

    E-Tranzact International led the gainers’ table during the day, gaining by 9.97 per cent to close at N3.20 per share.

    Academy Press followed with a gain of 9.52 per cent to close at N1.84, while Vitafoam inched higher by five per cent to close at N21 per share.

    Honeywell Flour Mill grew by 3.36 per cent to close at N2.46 per share.

    Cornerstone Insurance appreciated by 3.33 per cent to close at 62k per share.

    On the other hand, Associated Bus Company topped the losers’ chart, depreciating by 10 per cent to close at 27k per share.

    University Press trailed with a loss of 9.44 per cent to close at N1.63, while Mutual Benefits Assurance declined by 6.90 per cent to close at 27k per share.

    RT Briscoe was down by 6.25 per cent to close at 30k, while Courteville Business Solutions lost by 6.12 per cent to close at 40k per share.

    Investors traded a total of 67.37 million shares valued at N1.48 billion in 3,386 deals, representing 37.33 per cent decrease in volume.

    This was against the 107.49 million shares worth N1.15 billion exchanged in 3,303 deals the previous trading day.

    First Bank of Nigeria Holdings was the most active stock, exchanging 9.67 million shares worth N96.56 million.

    Zenith Bank followed with an account of 9.25 million shares valued at N182.39 million, while Guaranty Trust Holding Company (GTCO) sold 6.11 million shares valued at N120.4 million, Mutual Benefits traded 4.49 million shares worth N1.25 million, while Sovereign Trust Insurance exchanged 2.95 million shares worth N797, 719.
    NewsSourceCredit: NAN

  •  The Nigerian Exchange Ltd NGX declined further on Friday as market capitalisation depreciated by N35 billion or 0 13 per cent to close at N26 686 trillion from N26 721 trillion on Thursday Also the All Share Index ASI fell by 65 06 points or 0 13 per cent to 49 475 42 from 49 540 48 recorded at the previous trading The major drivers of the weak performance were Zenith Bank First Bank of Nigeria Holding Access Bank Holding and Stanbic Bank The market breath ended with nine stocks gaining while 13 were on the losers charts NEM Insurance led the gainers with 8 97 per cent to close at N5 59 per share Academy Press followed with an appreciation of 6 80 per cent to close N2 20 per share Japaul Gold and Ventures rose by 3 79 per cent to close at 28k while Cadbury International garnered three per cent to close at N13 75 per share Wema Bank gained by 1 76 per cent to close at N3 46 per share Conversely Regency Alliance Insurance led the loser s chat with a depreciation of 7 41 per cent to close at 25k per share Unity Bank followed dropping by 6 98 per cent to close at 40k per share while Access Bank Holding lost by 5 14 per cent to close at N8 30 per share Conerstone Insurance declined by 4 76 per cent to close at 60k while United Bank for Africa UBA shed 4 70 per cent to close at N7 10 per share Analysis of today s market activities showed trade turnover settled lower relative to the previous session with the value of transactions decreasing by 9 04 per cent A total of 107 49 million shares valued at N1 15 billion were exchanged in 3 303 deals FBNH Holding recorded the highest volume of 12 02 million traded shares valued at N120 67 million It was followed by Zenith Bank which sold 11 97 million shares worth N235 91 while Access Bank holding transacted 11 35 million shares valued at N92 28 Also UBA traded 9 07 million shares valued at N66 45 while Guaranty Trust Holding Company GTCO transacted 6 68 shares worth N131 55 million NewsSourceCredit NAN
    Stock market decreases further by 0.13%
     The Nigerian Exchange Ltd NGX declined further on Friday as market capitalisation depreciated by N35 billion or 0 13 per cent to close at N26 686 trillion from N26 721 trillion on Thursday Also the All Share Index ASI fell by 65 06 points or 0 13 per cent to 49 475 42 from 49 540 48 recorded at the previous trading The major drivers of the weak performance were Zenith Bank First Bank of Nigeria Holding Access Bank Holding and Stanbic Bank The market breath ended with nine stocks gaining while 13 were on the losers charts NEM Insurance led the gainers with 8 97 per cent to close at N5 59 per share Academy Press followed with an appreciation of 6 80 per cent to close N2 20 per share Japaul Gold and Ventures rose by 3 79 per cent to close at 28k while Cadbury International garnered three per cent to close at N13 75 per share Wema Bank gained by 1 76 per cent to close at N3 46 per share Conversely Regency Alliance Insurance led the loser s chat with a depreciation of 7 41 per cent to close at 25k per share Unity Bank followed dropping by 6 98 per cent to close at 40k per share while Access Bank Holding lost by 5 14 per cent to close at N8 30 per share Conerstone Insurance declined by 4 76 per cent to close at 60k while United Bank for Africa UBA shed 4 70 per cent to close at N7 10 per share Analysis of today s market activities showed trade turnover settled lower relative to the previous session with the value of transactions decreasing by 9 04 per cent A total of 107 49 million shares valued at N1 15 billion were exchanged in 3 303 deals FBNH Holding recorded the highest volume of 12 02 million traded shares valued at N120 67 million It was followed by Zenith Bank which sold 11 97 million shares worth N235 91 while Access Bank holding transacted 11 35 million shares valued at N92 28 Also UBA traded 9 07 million shares valued at N66 45 while Guaranty Trust Holding Company GTCO transacted 6 68 shares worth N131 55 million NewsSourceCredit NAN
    Stock market decreases further by 0.13%
    Economy3 months ago

    Stock market decreases further by 0.13%

    The Nigerian Exchange Ltd. (NGX) declined further on Friday as market capitalisation depreciated by N35 billion or 0.13 per cent, to close at N26.686 trillion from N26.721 trillion on Thursday.

    Also, the All-Share Index (ASI) fell by 65.06 points or 0.13 per cent to 49,475.42 from 49,540.48 recorded at the previous trading.

    The major drivers of the weak performance were Zenith Bank, First Bank of Nigeria Holding, Access Bank Holding and Stanbic Bank The market breath ended with nine stocks gaining, while 13 were on the losers’ charts.

    NEM Insurance led the gainers with 8.97 per cent to close at N5.59 per share.

    Academy Press followed with an appreciation of 6.80 per cent to close N2.20 per share.

    Japaul Gold and Ventures rose by 3.79 per cent to close at 28k, while Cadbury International garnered three per cent  to close at N13.75 per share.

    Wema Bank gained by 1.76 per cent to close at N3.46 per share.

    Conversely, Regency Alliance Insurance led the loser’s chat with a  depreciation of 7.41 per cent to close at 25k per share.

    Unity Bank followed dropping by 6.98 per cent to close at 40k per share, while Access Bank Holding lost by 5.14 per cent to close at N8.30 per share.

    Conerstone Insurance declined by 4.76 per cent to close at 60k, while United Bank for Africa (UBA) shed 4.70 per cent to close at N7.10 per share.

    Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions decreasing by 9.04 per cent.

    A total of 107.49 million shares valued at N1.15 billion were exchanged in 3,303 deals.

    FBNH Holding recorded the highest volume of 12.02 million traded shares valued at N120.67 million.

    It was followed by Zenith Bank, which sold 11.97 million shares worth N235.91, while Access Bank holding transacted 11.35 million shares valued at N92.28. Also, UBA traded 9.07 million shares valued at N66.45, while Guaranty Trust Holding Company (GTCO) transacted 6.68 shares worth  N131.55 million.


    NewsSourceCredit: NAN

  •  Profit taking continued on Thursday as the market capitalisation of the Nigerian Exchange Ltd NGX lost N19 billion to close at N26 721 trillion as against N26 740 trillion the previous day The All Share Index ASI also decreased by 35 45 points or 0 07 per cent to close at 49 540 48 compared with 49 575 93 on Wednesday The downturn was impacted by losses recorded by Guaranty Trust Holding Company GTCO First Bank of Nigeria Holding FBNH and Access Holding leading to the market s overall poor performance The year to date YTD return slipped to 15 98 per cent market breadth closed negative as 17 stocks declined while eight gained Sovereign Trust lnsurance recorded the highest price gain of 3 85 per cent to close at 27k per share Cadbury Nigeria followed with a gain of 2 69 per cent to close at N13 35 while Courteville Business Solutions appreciated by 2 08 per cent to close at 49k per share Zenith Bank rode by 0 77 per cent to close at N19 65 while UBA appreciated by 0 68 per cent to close at N7 45 per share On the other hand UACN Property Development Company led the losers chart by 6 82 per cent to close at N10 25 per share Vitafoam and UPCredit followed with a decline of 5 88 per cent each to close at N20 and N3 20 per share respectively UPDCO lost five per cent to close at 95k while Consolidated Hallmark Insurance shed 0 84 per cent to close at 59k per share Also the total volume traded declined by 57 03 per cent to 167 61 million units valued at N1 27 billion exchanged in 3 458 deals Transactions in the shares of Courteville Business Solutions topped the activity chart with 38 81 million shares valued at N18 25 million Access Holdings followed with 28 47 million shares worth N249 36 million while Fidelity Bank traded 10 82 million shares valued at N36 91 million Transcorp traded 10 69 million shares valued at N11 27 million while Consolidated Hallmark Insurance transacted 9 22 million shares worth N52 96 million NewsSourceCredit NAN
    Selloffs persist as equity market drops N19bn
     Profit taking continued on Thursday as the market capitalisation of the Nigerian Exchange Ltd NGX lost N19 billion to close at N26 721 trillion as against N26 740 trillion the previous day The All Share Index ASI also decreased by 35 45 points or 0 07 per cent to close at 49 540 48 compared with 49 575 93 on Wednesday The downturn was impacted by losses recorded by Guaranty Trust Holding Company GTCO First Bank of Nigeria Holding FBNH and Access Holding leading to the market s overall poor performance The year to date YTD return slipped to 15 98 per cent market breadth closed negative as 17 stocks declined while eight gained Sovereign Trust lnsurance recorded the highest price gain of 3 85 per cent to close at 27k per share Cadbury Nigeria followed with a gain of 2 69 per cent to close at N13 35 while Courteville Business Solutions appreciated by 2 08 per cent to close at 49k per share Zenith Bank rode by 0 77 per cent to close at N19 65 while UBA appreciated by 0 68 per cent to close at N7 45 per share On the other hand UACN Property Development Company led the losers chart by 6 82 per cent to close at N10 25 per share Vitafoam and UPCredit followed with a decline of 5 88 per cent each to close at N20 and N3 20 per share respectively UPDCO lost five per cent to close at 95k while Consolidated Hallmark Insurance shed 0 84 per cent to close at 59k per share Also the total volume traded declined by 57 03 per cent to 167 61 million units valued at N1 27 billion exchanged in 3 458 deals Transactions in the shares of Courteville Business Solutions topped the activity chart with 38 81 million shares valued at N18 25 million Access Holdings followed with 28 47 million shares worth N249 36 million while Fidelity Bank traded 10 82 million shares valued at N36 91 million Transcorp traded 10 69 million shares valued at N11 27 million while Consolidated Hallmark Insurance transacted 9 22 million shares worth N52 96 million NewsSourceCredit NAN
    Selloffs persist as equity market drops N19bn
    Economy3 months ago

    Selloffs persist as equity market drops N19bn

    Profit-taking continued on Thursday as the market capitalisation of the Nigerian Exchange Ltd. (NGX) lost N19 billion to close at N26.721 trillion as against N26.740 trillion the previous day.

    The All Share Index (ASI) also decreased by 35.45 points or 0.07 per cent to close at 49,540.48 compared with 49,575.93 on Wednesday.

    The downturn was impacted by losses recorded by Guaranty Trust Holding Company (GTCO), First Bank of Nigeria Holding (FBNH) and Access Holding, leading to the market’s overall poor performance.

    The year-to-date (YTD) return slipped to 15.98 per cent; market breadth closed negative as 17 stocks declined, while eight gained.

    Sovereign Trust lnsurance recorded the highest price gain of 3.85 per cent to close at 27k per share.

    Cadbury Nigeria followed with a gain of 2.69 per cent to close at N13.35, while Courteville Business Solutions appreciated by 2.08 per cent to close at 49k, per share.

    Zenith Bank rode by 0.77 per cent to close at N19.65, while UBA  appreciated by 0.68 per cent to close at N7.45 per share.

    On the other hand, UACN Property Development Company led the losers’ chart by 6.82 per cent to close at N10.25 per share.

    Vitafoam and UPCredit followed with a decline of 5.88 per cent each to close at N20 and N3.20 per share, respectively.

    UPDCO lost five per cent to close at 95k, while Consolidated Hallmark Insurance shed 0.84 per cent to close at 59k per share.

    Also, the total volume traded declined by 57.03 per cent to 167.61 million units, valued at N1.27 billion exchanged in 3,458 deals.

    Transactions in the shares of Courteville Business Solutions topped the activity chart with 38.81 million shares valued at N18.25 million.

    Access Holdings followed with 28.47 million shares worth N249.36 million, while Fidelity Bank traded 10.82 million shares valued at N36.91 million.

    Transcorp traded 10.69 million shares valued at N11.27 million, while Consolidated Hallmark Insurance transacted 9.22 million shares worth N52.96 million.


    NewsSourceCredit: NAN

  •  The market capitalisation of the Nigerian Exchange Ltd NGX on Tuesday gained N1 09 billion closing at N26 768 trillion against N26 767 trillion on Monday Similarly the All Share Index ASI rose by 2 01 points representing a gain of 0 004 per cent to 49 627 72 points from 49 625 71 the previous day However market breadth closed negative as 16 equities lost relative to 13 gainers Multiverse Mining and Exploration recorded the highest price gain of 9 69 per cent to close at N2 83 per share NPF Microfinance Bank followed with a gain of 7 84 per cent to close at N1 65 and Pharma Deko Plc went up 5 13 per cent to close at N2 05 per share Cutix was up by 5 12 per cent to close at N2 26 while Fidelity Bank appreciated by 3 02 per cent to close at N3 41 per share On the other hand Red Star Express led the losers chart by 10 per cent to close at N2 43 per share PCaverton Offshore Support Group followed with a decline of 4 55 per cent to close at N1 05 while Livestock Feeds lost 4 31 per cent to close at N1 11 per share Sovereign Trust Insurance declined 3 70 per cent to close at 26 kobo while Lasaco Assurance shed 3 13 per cent to close at 93 kobo per share The total volume of trades increased by 85 1 per cent to 160 244 million units valued at N1 488 billion and exchanged in 3 847 deals Transactions in the shares of Zenith Bank topped the activity chart with 26 736 million shares valued at N536 650 million Courteville Business Solutions followed with 24 102 million shares worth N11 328 million while Transnational Corporation of Nigeria Transcorp traded 16 249 million shares valued at N16 992 million International Energy Insurance traded 12 768 million shares valued at N20 429 million while Chams transacted 9 314 million shares worth N3 224 million NewsSourceCredit NAN
    NGX: Market capitalisation up N1.09bn
     The market capitalisation of the Nigerian Exchange Ltd NGX on Tuesday gained N1 09 billion closing at N26 768 trillion against N26 767 trillion on Monday Similarly the All Share Index ASI rose by 2 01 points representing a gain of 0 004 per cent to 49 627 72 points from 49 625 71 the previous day However market breadth closed negative as 16 equities lost relative to 13 gainers Multiverse Mining and Exploration recorded the highest price gain of 9 69 per cent to close at N2 83 per share NPF Microfinance Bank followed with a gain of 7 84 per cent to close at N1 65 and Pharma Deko Plc went up 5 13 per cent to close at N2 05 per share Cutix was up by 5 12 per cent to close at N2 26 while Fidelity Bank appreciated by 3 02 per cent to close at N3 41 per share On the other hand Red Star Express led the losers chart by 10 per cent to close at N2 43 per share PCaverton Offshore Support Group followed with a decline of 4 55 per cent to close at N1 05 while Livestock Feeds lost 4 31 per cent to close at N1 11 per share Sovereign Trust Insurance declined 3 70 per cent to close at 26 kobo while Lasaco Assurance shed 3 13 per cent to close at 93 kobo per share The total volume of trades increased by 85 1 per cent to 160 244 million units valued at N1 488 billion and exchanged in 3 847 deals Transactions in the shares of Zenith Bank topped the activity chart with 26 736 million shares valued at N536 650 million Courteville Business Solutions followed with 24 102 million shares worth N11 328 million while Transnational Corporation of Nigeria Transcorp traded 16 249 million shares valued at N16 992 million International Energy Insurance traded 12 768 million shares valued at N20 429 million while Chams transacted 9 314 million shares worth N3 224 million NewsSourceCredit NAN
    NGX: Market capitalisation up N1.09bn
    Economy3 months ago

    NGX: Market capitalisation up N1.09bn

    The market capitalisation of the Nigerian Exchange Ltd. (NGX) on Tuesday gained N1.09 billion, closing at N26.768 trillion against N26.767 trillion on Monday.

    Similarly, the All Share Index (ASI) rose by 2.01 points, representing a gain of 0.004 per cent to 49,627.72 points from 49,625.71 the previous day.

    However, market breadth closed negative as 16 equities lost relative to 13 gainers.

    Multiverse Mining and Exploration recorded the highest price gain of 9.69 per cent to close at N2.83, per share.

    NPF Microfinance Bank followed with a gain of 7.84 per cent to close at N1.65 and Pharma-Deko Plc went up 5.13 per cent to close at N2.05 per share.

    Cutix was up by 5.12 per cent to close at N2.26, while Fidelity Bank appreciated by 3.02 per cent to close at N3.41 per share.

    On the other hand, Red Star Express led the losers’ chart by 10 per cent to close at N2.43 per share.

    PCaverton Offshore Support Group followed with a decline of 4.55 per cent to close at N1.05, while Livestock Feeds lost 4.31 per cent to close at N1.11, per share.

    Sovereign Trust Insurance declined 3.70 per cent to close at 26 kobo, while Lasaco Assurance shed 3.13 per cent to close at 93 kobo, per share.

    The total volume of trades increased by 85.1 per cent to 160.244 million units, valued at N1.488 billion and exchanged in 3,847 deals.

    Transactions in the shares of Zenith Bank topped the activity chart with 26.736 million shares valued at N536.650 million.

    Courteville Business Solutions followed with 24.102 million shares worth N11.328 million, while Transnational Corporation of Nigeria (Transcorp)  traded 16.249 million shares valued at N16.992 million.

    International Energy Insurance traded 12.768 million shares valued at N20.429 million, while Chams transacted 9.314 million shares worth N3.224 million.


    NewsSourceCredit: NAN

  •  The Nigerian Exchange Ltd NGX started the week on a negative note as market capitalisation stood at N26 767 trillion representing a 0 14 per cent decrease from the N26 805 trillion recorded on Friday Also the All Share Index ASI shed 69 41 basis points or 0 14 per cent to close at 49 625 71 as against 49 695 12 the previous session Market breadth closed with 13 stocks that gained and lost respectively Multiverse Mining amp Exploration led the gainers table during the day gaining 9 32 per cent to close at N2 58 per share FTN Cocoa Processors followed with a gain of 6 67 per cent to close at 32k while Chams added 6 45 per cent to close at 33k per share Academy Press appreciated by 4 76 per cent to close at N2 20 and Regency Alliance Insurance rose by 2 04 per cent to close at 25k per share On the other hand Beta Glass Company topped the losers chart shedding 9 96 per cent to close at N46 10 per share Learn Africa trailed with a loss of 8 89 per cent to close at N2 05 while NEM Insurance declined by 7 96 per cent to close at N5 20 per share Japaul Gold and Tripple Gee amp Co were down by 6 9 per cent each to close at 27k and 81k respectively Overall the volume of shares traded stood at 86 59 million representing a 72 86 per cent decrease from 319 09 shares at the previous session Also the value of traded stocks dropped by 37 22 per cent to stand at N1 17 billion compared with N1 86 billion recorded in Friday Guaranty Trust Holding Company GTCO was the most active stock exchanging 19 47 million shares worth N385 59 million Sterling Bank followed with an account of 6 21 million shares valued at N9 35 million while Zenith Bank traded 5 92 million shares worth N118 68 million Fidelity Bank sold 5 38 million shares valued at N20 02 million while Chams exchanged 5 63 million shares worth N1 87 million NewsSourceCredit NAN
    NGX: Capitisation drops by N38bn
     The Nigerian Exchange Ltd NGX started the week on a negative note as market capitalisation stood at N26 767 trillion representing a 0 14 per cent decrease from the N26 805 trillion recorded on Friday Also the All Share Index ASI shed 69 41 basis points or 0 14 per cent to close at 49 625 71 as against 49 695 12 the previous session Market breadth closed with 13 stocks that gained and lost respectively Multiverse Mining amp Exploration led the gainers table during the day gaining 9 32 per cent to close at N2 58 per share FTN Cocoa Processors followed with a gain of 6 67 per cent to close at 32k while Chams added 6 45 per cent to close at 33k per share Academy Press appreciated by 4 76 per cent to close at N2 20 and Regency Alliance Insurance rose by 2 04 per cent to close at 25k per share On the other hand Beta Glass Company topped the losers chart shedding 9 96 per cent to close at N46 10 per share Learn Africa trailed with a loss of 8 89 per cent to close at N2 05 while NEM Insurance declined by 7 96 per cent to close at N5 20 per share Japaul Gold and Tripple Gee amp Co were down by 6 9 per cent each to close at 27k and 81k respectively Overall the volume of shares traded stood at 86 59 million representing a 72 86 per cent decrease from 319 09 shares at the previous session Also the value of traded stocks dropped by 37 22 per cent to stand at N1 17 billion compared with N1 86 billion recorded in Friday Guaranty Trust Holding Company GTCO was the most active stock exchanging 19 47 million shares worth N385 59 million Sterling Bank followed with an account of 6 21 million shares valued at N9 35 million while Zenith Bank traded 5 92 million shares worth N118 68 million Fidelity Bank sold 5 38 million shares valued at N20 02 million while Chams exchanged 5 63 million shares worth N1 87 million NewsSourceCredit NAN
    NGX: Capitisation drops by N38bn
    Economy3 months ago

    NGX: Capitisation drops by N38bn

    The Nigerian Exchange Ltd. (NGX) started the week on a negative note as market capitalisation stood at N26.767 trillion, representing a 0.14 per cent decrease from the N26.805 trillion recorded on Friday.

    Also, the All-Share-Index (ASI) shed 69.41 basis points or 0.14 per cent to close at 49,625.71 as against 49,695.12 the previous session.

    Market breadth closed with 13 stocks that gained and lost, respectively.

    Multiverse Mining & Exploration led the gainers’ table during the day, gaining 9.32 per cent to close at N2.58 per share.

    FTN Cocoa Processors followed with a gain of 6.67 per cent to close at 32k, while Chams added 6.45 per cent to close at 33k per share.

    Academy Press appreciated by 4.76 per cent to close at N2.20 and Regency Alliance Insurance rose by 2.04 per cent to close at 25k per share.

    On the other hand, Beta Glass Company topped the losers’ chart, shedding 9.96 per cent to close at N46.10 per share.

    Learn Africa trailed with a loss of 8.89 per cent to close at N2.05, while NEM Insurance declined by 7.96 per cent to close at N5.20 per share.

    Japaul Gold and Tripple Gee & Co were down by 6.9 per cent each to close at 27k and 81k, respectively.

    Overall the volume of shares traded stood at 86.59 million, representing a 72.86 per cent decrease from 319.09 shares at the previous session.

    Also, the value of traded stocks dropped by 37.22 per cent to stand at N1.17 billion compared with N1.86 billion recorded in Friday.

    Guaranty Trust Holding Company (GTCO) was the most active stock, exchanging 19.47 million shares worth N385.59 million.

    Sterling Bank followed with an account of 6.21 million shares valued at N9.35 million, while Zenith Bank traded 5.92 million shares worth N118.68 million.

    Fidelity Bank sold 5.38 million shares valued at N20.02 million, while Chams exchanged 5.63 million shares worth N1.87 million.


    NewsSourceCredit: NAN

  •  The Flour Mills of Nigeria Plc a food and agro allied company says its revenue stood at N1 2 billion as at March This represents an increase of 51 per cent compared with N771 6 million recorded in March 2021 Its Chairman John Coumantaros was quoted in a statement to have said this during the company s 62nd Annual General Meeting AGM in Lagos Coumantaros who was represented by Vice Chairman FMN Paul Gbededo said the group s increased earnings was as a result of the company s resiliency as well as shareholders support According to him the group completed the acquisition of Honeywell Flour Mills Plc within the fiscal year Resolutions made at the meeting held on Wednesday included the shareholders approval of payment of N2 15 dividend for the 2022 fiscal year The shareholders also approved the request for company s board of directors to raise N200 billion in additional capital Coumantaros said This acquisition created a more resilient national champion for Nigeria in the food industry laying the groundwork for long term growth and food security Our food division s strategic priorities are motivated by the need to become Africa s leading consumer and business to business B2B food brand with the goal of more than doubling earnings before interest taxes depreciation and amortization EBITDA It also announced its first quarter unaudited results for the period ended 30 June 2022 which increased by 45 3 per cent in revenue to stand at N339 601 billion from N233 703 billion in 2021 The company recorded the increase despite rising effects of inflation on the prices of goods and services The audited results which were released to the Nigerian Exchange Group NGX showed that cost of sales increased by 47 per cent to N306 352 billion from N208 004 billion achieved in 2021 In its financial statement the company s food segment contributed 63 per cent growth of the revenue to N213 166 billion from N146 925 billion in 2021 Also the Agro Allied segment was next with 45 per cent of the revenue with N65 652 billion from N47 588 billion in 2021 while pofit after tax rose marginally by 0 89 per to N5 495 billion in 2022 from N 5 446 billion in 2021 NewsSourceCredit NAN
    Flour Mills posts N1.2bn revenue in March
     The Flour Mills of Nigeria Plc a food and agro allied company says its revenue stood at N1 2 billion as at March This represents an increase of 51 per cent compared with N771 6 million recorded in March 2021 Its Chairman John Coumantaros was quoted in a statement to have said this during the company s 62nd Annual General Meeting AGM in Lagos Coumantaros who was represented by Vice Chairman FMN Paul Gbededo said the group s increased earnings was as a result of the company s resiliency as well as shareholders support According to him the group completed the acquisition of Honeywell Flour Mills Plc within the fiscal year Resolutions made at the meeting held on Wednesday included the shareholders approval of payment of N2 15 dividend for the 2022 fiscal year The shareholders also approved the request for company s board of directors to raise N200 billion in additional capital Coumantaros said This acquisition created a more resilient national champion for Nigeria in the food industry laying the groundwork for long term growth and food security Our food division s strategic priorities are motivated by the need to become Africa s leading consumer and business to business B2B food brand with the goal of more than doubling earnings before interest taxes depreciation and amortization EBITDA It also announced its first quarter unaudited results for the period ended 30 June 2022 which increased by 45 3 per cent in revenue to stand at N339 601 billion from N233 703 billion in 2021 The company recorded the increase despite rising effects of inflation on the prices of goods and services The audited results which were released to the Nigerian Exchange Group NGX showed that cost of sales increased by 47 per cent to N306 352 billion from N208 004 billion achieved in 2021 In its financial statement the company s food segment contributed 63 per cent growth of the revenue to N213 166 billion from N146 925 billion in 2021 Also the Agro Allied segment was next with 45 per cent of the revenue with N65 652 billion from N47 588 billion in 2021 while pofit after tax rose marginally by 0 89 per to N5 495 billion in 2022 from N 5 446 billion in 2021 NewsSourceCredit NAN
    Flour Mills posts N1.2bn revenue in March
    Economy3 months ago

    Flour Mills posts N1.2bn revenue in March

    The Flour Mills of Nigeria Plc, a food and agro-allied company, says its revenue stood at N1.2 billion as at March.

    This represents an increase of 51 per cent compared with N771.6 million recorded in March 2021. Its Chairman, John Coumantaros, was quoted in a statement to have said this during the company’s 62nd Annual General Meeting (AGM) in Lagos.

    Coumantaros, who was represented by Vice-Chairman, FMN, Paul Gbededo, said the group’s increased earnings was as a result of the company’s resiliency as well as shareholders’ support.

    According to him, the group completed the acquisition of Honeywell Flour Mills Plc within the fiscal year.

    Resolutions made at the meeting held on Wednesday included the shareholders’ approval of payment of N2.15 dividend for the 2022 fiscal year.

    The shareholders also approved the request for company’s board of directors to raise N200 billion in additional capital.

    Coumantaros said, “This acquisition created a more resilient national champion for Nigeria in the food industry, laying the groundwork for long-term growth and food security.

    “Our food division’s strategic priorities are motivated by the need to become Africa’s leading consumer and business-to-business (B2B) food brand, with the goal of more than doubling earnings before interest, taxes, depreciation, and amortization (EBITDA).

    ” It also announced its first quarter unaudited results for the period ended 30 June 2022, which increased by 45.3 per cent in revenue to stand at N339.601 billion from N233.703 billion in 2021. The company recorded the increase despite rising effects of inflation on the prices of goods and services.

    The audited results, which were released to the Nigerian Exchange Group (NGX), showed that cost of sales increased by 47 per cent to N306.352 billion from N208.004 billion achieved in 2021. In its financial statement, the company’s food segment contributed 63 per cent growth of the revenue to N213.166 billion from N146.925 billion in 2021. Also, the Agro Allied segment was next with 45 per cent of the revenue with N65.652 billion from N47.588 billion in 2021, while pofit after tax rose marginally by 0.89 per to N5.495 billion in 2022 from N 5.446 billion in 2021.
    NewsSourceCredit: NAN

  •  Trading on the Nigerian Exchange Ltd NGX remained upbeat on Friday for the second consecutive day Specifically market capitalisation gained N23 billion to close N26 805 trillion from N26 782 trillion recorded on Thursday Similarly the All Share Index increased by 42 87 points or 0 09 per cent to close at 49 695 12 compared with 49 652 25 achieved on Thursday As a result the Year to Date gain increased to 16 34 per cent The market breadth was negative as 10 stocks advanced and 16 declined On the performance level NEM Insurance led the gainers with 7 62 per cent share price appreciation closing at N5 65 per share Chams followed by 6 9 per cent to close at 31k per share First City Monument Bank FCMB rose by 6 06 per cent to close at N3 50 per share while United Bank for Africa UBA grew by 3 42 per cent to close at N7 55 per share Also Flour Mills increased by 3 41 per cent to close at N30 30 per share On the other hand Honeywell Flour Mills led the losers chart by 10 per cent to close at N2 25 per share LearnAfrica came next dropping by 8 91 per cent to close at N2 25 per share Linkage Assurance fell by 7 69 per cent to close at 48k per share while WAPIC went down by 7 32 per cent to close at 38k per share Jaiz Bank depreciated by 4 49 per cent to close at 85k per share Sterling Bank was the most active stock traded with the highest volume of 173 84 million shares worth N252 13 million It was followed by UBA which transacted 54 07 million shares valued at N400 61 million Zenith Bank sold 14 02 million units of shares at N281 44 and Chams transacted 13 97 million shares worth N4 09 million Transcorp traded 6 39 million shares valued at N6 82 million NewsSourceCredit NAN
    NGX: Trading remains upbeat, indices up by 0.09%
     Trading on the Nigerian Exchange Ltd NGX remained upbeat on Friday for the second consecutive day Specifically market capitalisation gained N23 billion to close N26 805 trillion from N26 782 trillion recorded on Thursday Similarly the All Share Index increased by 42 87 points or 0 09 per cent to close at 49 695 12 compared with 49 652 25 achieved on Thursday As a result the Year to Date gain increased to 16 34 per cent The market breadth was negative as 10 stocks advanced and 16 declined On the performance level NEM Insurance led the gainers with 7 62 per cent share price appreciation closing at N5 65 per share Chams followed by 6 9 per cent to close at 31k per share First City Monument Bank FCMB rose by 6 06 per cent to close at N3 50 per share while United Bank for Africa UBA grew by 3 42 per cent to close at N7 55 per share Also Flour Mills increased by 3 41 per cent to close at N30 30 per share On the other hand Honeywell Flour Mills led the losers chart by 10 per cent to close at N2 25 per share LearnAfrica came next dropping by 8 91 per cent to close at N2 25 per share Linkage Assurance fell by 7 69 per cent to close at 48k per share while WAPIC went down by 7 32 per cent to close at 38k per share Jaiz Bank depreciated by 4 49 per cent to close at 85k per share Sterling Bank was the most active stock traded with the highest volume of 173 84 million shares worth N252 13 million It was followed by UBA which transacted 54 07 million shares valued at N400 61 million Zenith Bank sold 14 02 million units of shares at N281 44 and Chams transacted 13 97 million shares worth N4 09 million Transcorp traded 6 39 million shares valued at N6 82 million NewsSourceCredit NAN
    NGX: Trading remains upbeat, indices up by 0.09%
    Economy3 months ago

    NGX: Trading remains upbeat, indices up by 0.09%

    Trading on the Nigerian Exchange Ltd. (NGX), remained upbeat on Friday for the second consecutive day.

    Specifically, market capitalisation gained N23 billion to close N26.805 trillion from N26.782 trillion recorded on Thursday.

    Similarly, the All Share Index increased by 42.87 points or 0.09 per cent, to close at 49,695.12 compared with 49,652.25 achieved on Thursday.

    As a result, the Year-to-Date gain increased to 16.34 per cent.

    The market breadth was negative as 10 stocks advanced and 16 declined.

    On the performance level, NEM Insurance led the gainers with 7.62 per cent share price appreciation closing at N5.65 per share.

    Chams followed by 6.9 per cent to close at 31k per share.

    First City Monument Bank (FCMB) rose by 6.06 per cent to close at N3.50 per share, while United Bank for Africa (UBA) grew by 3.42 per cent to close at N7.55 per share.

    Also, Flour Mills increased by 3.41 per cent to close at N30.30 per share.

    On the other hand, Honeywell Flour Mills led the losers’ chart by 10 per cent to close at N2.25 per share.

    LearnAfrica came next, dropping by 8.91 per cent to close at N2.25 per share.

    Linkage Assurance fell by 7.69 per cent to close at 48k per share, while WAPIC went down by 7.32 per cent to close at 38k per share.

    Jaiz Bank depreciated by 4.49 per cent to close at 85k per share.

    Sterling Bank was the most active stock, traded with the highest volume of 173.84 million shares worth N252.13 million.

    It was followed by UBA, which transacted 54.07 million shares valued at N400.61 million.

    Zenith Bank sold 14.02 million units of shares at N281.44 and Chams transacted 13.97 million shares worth N4.09 million.

    Transcorp traded 6.39 million shares valued at N6.82 million.


    NewsSourceCredit: NAN

  •  Guaranty Trust Holding Company Plc GTCO says it has posted profit before tax of N103 2 billion for the period ended June 30 The bank stated this in its audited consolidated and separate financial statements to the Nigerian Exchange Group NGX and London Stock Exchange LSE on Monday The gain represented an increase of 11 0 per cent over N93 1 billion recorded in the corresponding period ended June 2021 The group s loan book net increased by 1 8 per cent from N1 80 trillion recorded as at December 2021 to N1 83 trillion in June 2022 while deposit liabilities increased by 6 4 per cent from N4 13 trillion in December 2021 to N4 39 trillion in June 2022 The group s balance sheet remained well structured and resilient with total assets and shareholders funds closing at N5 7 trillion and N845 7 billion respectively Full impact Capital Adequacy Ratio CAR stayed strong closing at 22 0 per cent while asset quality was sustained as IFRS 9 Stage 3 Loans ratio and Cost of Risk COR closed at 6 2 per cent and 0 2 per cent in June 2022 from 6 0 per cent and 0 5 per cent in December 2021 respectively Commenting on the results the Group Chief Executive Officer of the bank Mr Segun Agbaje said Our results show an increase in key revenue lines and a strong performance in other financial metrics which reinforce our growth prospects as a leading financial services company Our priority at the start of the 2022 financial year was to bring the Group s new businesses on stream starting strong with a focus on long term viability At present we have successfully expanded our financial services ecosystem to include HabariPay Ltd Guaranty Trust Fund Managers Ltd and Guaranty Trust Pension Managers Ltd and all of them are P amp L positive He further stated that These newly created businesses will operate alongside our flagship banking franchise to offer increased value to our growing customer base as well as other stakeholders We will continue to build on our core strengths of service excellence innovation and flawless execution to deliver our corporate objectives for the year and further our vision of being Africa s leading financial services institution He said overall the group continued to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios He listed some of them as Pre Tax Return on Equity ROAE of 23 9 per cent Pre Tax Return on Assets ROAA of 3 7 per cent Full Impact Capital Adequacy Ratio CAR of 22 0 per cent and Cost to Income ratio of 49 1 per cent NewsSourceCredit NAN
    GTCO posts N103.2bn pre-tax profit in H1 2022
     Guaranty Trust Holding Company Plc GTCO says it has posted profit before tax of N103 2 billion for the period ended June 30 The bank stated this in its audited consolidated and separate financial statements to the Nigerian Exchange Group NGX and London Stock Exchange LSE on Monday The gain represented an increase of 11 0 per cent over N93 1 billion recorded in the corresponding period ended June 2021 The group s loan book net increased by 1 8 per cent from N1 80 trillion recorded as at December 2021 to N1 83 trillion in June 2022 while deposit liabilities increased by 6 4 per cent from N4 13 trillion in December 2021 to N4 39 trillion in June 2022 The group s balance sheet remained well structured and resilient with total assets and shareholders funds closing at N5 7 trillion and N845 7 billion respectively Full impact Capital Adequacy Ratio CAR stayed strong closing at 22 0 per cent while asset quality was sustained as IFRS 9 Stage 3 Loans ratio and Cost of Risk COR closed at 6 2 per cent and 0 2 per cent in June 2022 from 6 0 per cent and 0 5 per cent in December 2021 respectively Commenting on the results the Group Chief Executive Officer of the bank Mr Segun Agbaje said Our results show an increase in key revenue lines and a strong performance in other financial metrics which reinforce our growth prospects as a leading financial services company Our priority at the start of the 2022 financial year was to bring the Group s new businesses on stream starting strong with a focus on long term viability At present we have successfully expanded our financial services ecosystem to include HabariPay Ltd Guaranty Trust Fund Managers Ltd and Guaranty Trust Pension Managers Ltd and all of them are P amp L positive He further stated that These newly created businesses will operate alongside our flagship banking franchise to offer increased value to our growing customer base as well as other stakeholders We will continue to build on our core strengths of service excellence innovation and flawless execution to deliver our corporate objectives for the year and further our vision of being Africa s leading financial services institution He said overall the group continued to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios He listed some of them as Pre Tax Return on Equity ROAE of 23 9 per cent Pre Tax Return on Assets ROAA of 3 7 per cent Full Impact Capital Adequacy Ratio CAR of 22 0 per cent and Cost to Income ratio of 49 1 per cent NewsSourceCredit NAN
    GTCO posts N103.2bn pre-tax profit in H1 2022
    Economy3 months ago

    GTCO posts N103.2bn pre-tax profit in H1 2022

    Guaranty Trust Holding Company Plc (GTCO) says it has posted profit before tax of N103.2 billion for the period ended June 30. The bank stated this in its audited consolidated and separate financial statements  to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) on Monday.

    The gain represented an increase of 11.0 per cent over N93.1 billion recorded in the corresponding period ended June 2021. The group’s loan book (net) increased by 1.8 per cent from N1.80 trillion recorded as at December 2021 to N1.83 trillion in June 2022, while deposit liabilities increased by 6.4 per cent from N4.13 trillion in December 2021 to N4.39 trillion in June 2022. The group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at N5.7 trillion and N845.7 billion, respectively.

    Full impact Capital Adequacy Ratio (CAR) stayed strong, closing at 22.0 per cent, while asset quality was sustained as IFRS 9 Stage 3 Loans ratio and Cost of Risk (COR) closed at 6.2 per cent and 0.2 per cent in June 2022 from 6.0 per cent and 0.5 per cent in December 2021, respectively.

    Commenting on the results, the Group Chief Executive Officer of the bank, Mr Segun Agbaje, said,  “Our results show an increase in key revenue lines and a strong performance in other financial metrics which reinforce our growth prospects as a leading financial services company.

    “Our priority at the start of the 2022 financial year was to bring the Group’s new businesses on-stream, starting strong with a focus on long-term viability.

    “At present, we have successfully expanded our financial services ecosystem to include HabariPay Ltd., Guaranty Trust Fund Managers Ltd., and Guaranty Trust Pension Managers Ltd., and all of them are P&L positive.

    ” He further stated that, “These newly created businesses will operate alongside our flagship banking franchise to offer increased value to our growing customer base as well as other stakeholders.

    “We will continue to build on our core strengths of service excellence, innovation, and flawless execution to deliver our corporate objectives for the year and further our vision of being Africa’s leading financial services institution.

    ” He said overall, the group continued to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios.

    He listed some of them as Pre-Tax Return on Equity (ROAE) of 23.9 per cent, Pre-Tax Return on Assets (ROAA) of 3.7 per cent, Full Impact Capital Adequacy Ratio (CAR) of 22.0 per cent and Cost to Income ratio of 49.1 per cent.


    NewsSourceCredit: NAN

  •  The Nigerian Exchange Ltd NGX recorded another positive performance on Friday with a gain of N84 65 billion market capitalisation closed at N26 994 trillion from N26 909 trillion on Thursday Also the All Share Index ASI increased by 156 03 points or 0 31 per cent to close at 50 045 83 from 49 889 80 trillion recorded on Thursday The upturn was due to gains recorded in large and medium capitalised stocks amongst which are Zenith Bank Stanbic Bank Nigerian Breweries and MTN Nigeria Communications MTNN The market closed positive as 21 stocks gained relative to nine losers FCMB Group recorded the highest gain of 9 06 per cent to close at N3 49 per share Stanbic Bank followed with 6 45 per cent to close at N33 while Etranszact rose by six per cent to close at N2 65 per share Transcorp rose by 4 76 per cent to close at N1 10 while NPF Microfinance appreciated by 4 52 per cent to close at N1 62 per share Courtville Business Solutions gained by 4 17 per cent to close at 50k per share On the other hand Caverton Offshore Support Group led the losers chart by 9 50 per cent to close at N1 62 per share Eterna followed with 9 17 per cent to close at N5 45 while NCR shed 9 09 per cent to close at N3 per share Japaul Gold and Ventures lost 7 50 per cent to close at 37k while Ecobank Transnational Incorporated shed 7 20 per cent to close at N11 60 per share However the total volume traded decreased to 240 02 million units valued at N2 68 billion and exchanged in 3 435 deals This was in contrast with 229 12 million shares worth N1 75 billion traded in 3 575 deals on Thursday Transactions in the shares of Sterling Bank topped the activity chart with 93 7 million shares valued at N136 01 million Fidelity Bank followed with 28 77 million shares valued at N97 1 million Fidson Healthcare followed with 13 85 million shares worth N130 38 million while Guaranty Trust Holding traded 13 04 million shares valued at N258 52 million NewsSourceCredit NAN
    NGX extends bullish run, gains N85bn
     The Nigerian Exchange Ltd NGX recorded another positive performance on Friday with a gain of N84 65 billion market capitalisation closed at N26 994 trillion from N26 909 trillion on Thursday Also the All Share Index ASI increased by 156 03 points or 0 31 per cent to close at 50 045 83 from 49 889 80 trillion recorded on Thursday The upturn was due to gains recorded in large and medium capitalised stocks amongst which are Zenith Bank Stanbic Bank Nigerian Breweries and MTN Nigeria Communications MTNN The market closed positive as 21 stocks gained relative to nine losers FCMB Group recorded the highest gain of 9 06 per cent to close at N3 49 per share Stanbic Bank followed with 6 45 per cent to close at N33 while Etranszact rose by six per cent to close at N2 65 per share Transcorp rose by 4 76 per cent to close at N1 10 while NPF Microfinance appreciated by 4 52 per cent to close at N1 62 per share Courtville Business Solutions gained by 4 17 per cent to close at 50k per share On the other hand Caverton Offshore Support Group led the losers chart by 9 50 per cent to close at N1 62 per share Eterna followed with 9 17 per cent to close at N5 45 while NCR shed 9 09 per cent to close at N3 per share Japaul Gold and Ventures lost 7 50 per cent to close at 37k while Ecobank Transnational Incorporated shed 7 20 per cent to close at N11 60 per share However the total volume traded decreased to 240 02 million units valued at N2 68 billion and exchanged in 3 435 deals This was in contrast with 229 12 million shares worth N1 75 billion traded in 3 575 deals on Thursday Transactions in the shares of Sterling Bank topped the activity chart with 93 7 million shares valued at N136 01 million Fidelity Bank followed with 28 77 million shares valued at N97 1 million Fidson Healthcare followed with 13 85 million shares worth N130 38 million while Guaranty Trust Holding traded 13 04 million shares valued at N258 52 million NewsSourceCredit NAN
    NGX extends bullish run, gains N85bn
    Economy3 months ago

    NGX extends bullish run, gains N85bn

    The Nigerian Exchange Ltd., (NGX) recorded another positive performance on Friday, with a gain of N84.65 billion market capitalisation closed at N26,994 trillion from N26,909 trillion on Thursday.

    Also, the All-Share Index (ASI) increased by 156.03 points or 0.31 per cent to close at 50,045.83 from 49,889.80 trillion recorded on Thursday.

    The upturn was due to gains recorded in large and medium capitalised stocks, amongst which are: Zenith Bank, Stanbic Bank, Nigerian Breweries and MTN Nigeria Communications (MTNN).

    The market closed positive as 21 stocks gained relative to nine losers.

    FCMB Group recorded the highest gain of 9.06 per cent to close at N3.49 per share.

    Stanbic Bank followed with 6.45 per cent to close at N33, while Etranszact rose by six per cent to close at N2.65 per share.

    Transcorp rose by 4.76 per cent to close at N1.10, while NPF Microfinance appreciated by 4.52 per cent to close at N1.62 per share.

    Courtville Business Solutions gained by 4.17 per cent to close at 50k per share.

    On the other hand, Caverton Offshore Support Group led the losers’ chart by 9.50 per cent to close at N1.62 per share.

    Eterna followed with 9.17 per cent to close at N5.45, while NCR shed 9.09 per cent to close at N3 per share.

    Japaul Gold and Ventures lost 7.50 per cent to close at 37k, while Ecobank Transnational Incorporated shed 7.20 per cent to close at N11.60 per share.

    However, the total volume traded decreased to 240. 02 million units valued at N2,68 billion and exchanged in 3,435 deals.

    This was in contrast with 229.12 million shares worth N1.75 billion traded in 3,575 deals on Thursday.

    Transactions in the shares of Sterling Bank topped the activity chart with 93.7 million shares valued at N136.01 million.

    Fidelity Bank followed with 28.77 million shares valued at N97.1 million.

    Fidson Healthcare followed with 13.85 million shares worth N130.38 million, while Guaranty Trust Holding traded 13.04 million shares valued at N258.52 million.


    NewsSourceCredit: NAN

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