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The New Banking Rally Starts NOW

Proshare

Monday, August 14, 2017 11.00AM /Proshare Research

The rally witnessed in the Nigerian Stock Market most especially in the second half of the year has been very impressive and the banking subsector is not left out of the goldmine currently brewing.

The NSEASI, as at July 28th, 2017 has recorded +37.17% YTD gain as against +68.74% YTD gain recorded by the NSE Banking Index which simply reflects the rally more visibly. 


NSE ASI vs. NSE Banking Index

Index

30-Dec-16

28-Jul-17

% Change

NSEASI

26,874.62

 36,864.71

37.17%

NSE Banking

274.32

 462.89

68.74%

Source: NSE, TheAnalyst 

A review of the YTD performance of the banking stocks revealed that STANBIC topped the list with 150% YTD gain and closely followed by UBA and ACCESS with 115% and 75% gain respectively while FBNH recorded 67% YTD gain. 

However, UBN and WEMABANK recorded the least with 3% and 8% YTD gains respectively. 

Banking Stocks

S/No

Banks

31-Dec-16

28-Jul-17

%

1

STANBIC

15

37.53

150%

2

UBA

4.57

9.81

115%

3

ACCESS

5.78

10.11

75%

4

ZENITHBANK

14.89

25.9

74%

5

FBNH

3.46

5.78

67%

6

GUARANTY

24.74

41.1

66%

7

ETI

10.3

17

65%

8

FIDELITYBK

0.84

1.28

52%

9

DIAMONDBNK

0.88

1.28

45%

10

SKYEBANK

0.5

0.71

42%

11

STERLNBANK

0.81

1.02

26%

12

FCMB

1.07

1.31

22%

13

UNITYBNK

0.57

0.64

12%

14

WEMABANK

0.5

0.54

8%

15

UBN

5.35

5.5

3%

Source: NSE, TheAnalyst


Further analysis on banking stocks share price performance in the last seven (7) years revealed that majority of the stocks closed year 2016 and 2015 in red while majority closed in green in year 2013 and 2012. 


 
For more details on Banking Sector Performance, kindly download our FBN Holdings Plc Comprehensive Performance Assessment Report   

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