Mon Apr 1st, 2019

Analysts expect mixed reaction this

By Nkiruka Nnorom

HEAVY losses in the banking stocks undermined the performance of the stock market, leading to loss of 0.31 percent in the All Share Index, ASI, last week.

The losses was heavier in Fidelity Bank Plc, which released its 2018 full year financial statement on Friday, showing 3.8 percent increase in gross earnings to N188.9 billion and 30.6 percent growth in pre-tax profit to N25.09 billion in the previous year.

Despite the positive financial performance, investors’ reaction to the result was negative as the bank’s shares fell by 13.08 percent to close at N2…
Banking Industry News