as GTCO, Ecobank shows resilience and recorded gains.

by Niyi Jacobs

United Bank for Africa (UBA) shares experienced a significant decline of 7.88% week-on-week (W-o-W), making it the best loser W-o-W.

This decline is a concern for investors and may be attributed to various factors such as asset quality issues, regulatory challenges, or market sentiment.

Despite this setback, UBA remains one of the top Tier 1 banks in Nigeria, with a strong presence in Africa and a diversified portfolio. The bank’s year-to-date (YTD) performance shows a decline of 10.53%, closing at N7.30.

In contrast, some of UBA’s peers, such as GTCO and Ecobank, have shown resilience and even recorded gains. GTCO’s shares rose by 8.64% YTD to N44, while Ecobank’s shares increased by 5.26% YTD to N22.

The NGX-Banking Index declined by 2.94% W-o-W to close at 819.20, reflecting the mixed performance of the banking sector. UBA’s decline contributed significantly to this drop.

Key Highlights:

  • UBA shares decline by 7.88% W-o-W
  • UBA’s YTD performance shows a decline of 10.53%
  • GTCO and Ecobank show strong YTD performance
  • NGX-Banking Index declines by 2.94% W-o-W
  • UBA remains one of the top Tier 1 banks in Nigeria

Table: UBA’s Share Price Performance

WeekShare PriceChange
Previous WeekN7.90
Current WeekN7.30-7.88%

BusinessNG recommend that : share price performance is subject to change and may not reflect the current status. Investors should verify the information before making any investment decisions.