Friday, October 18, 2024
HomeBankingUBA SHARES DECLINES BY 7.88% W-o-W

UBA SHARES DECLINES BY 7.88% W-o-W

UBA MD/CEO Oliver Alawuba, UBA headquarters

 

 

By Victory Oghene

The United Bank for Africa (UBA) has experienced a drop in share price of 7.88%, making it the best loser W-o-W during the week.

This is according to this week NGX-Banking Index.

The NGX-Banking declined by 2.94% week on week (W-o-W) to close at 819.20. Among the Tier 1 banks, GTCO and Ecobank have shown a strong performance year-to-date (YTD). Specifically, GTCO’s shares have risen by 8.64% (YTD), closing at N44, while ETI saw a rise of 5.26% YTD to N22.

Wema and FCMB, both Tier 2 banks, sustained positive gains in YTD performance. However, the remaining three banks saw a dip in their share prices over the same period. Sterling and Stanbic were particularly affected, with their share prices showing a notable decline of 37.89% and 23.19%, respectively.

This week, among Tier 1 banks, only Ecobank (ETI) saw a rise in its share price, in stark contrast to the performance of other banks.

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