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
Week | Share Price | Change |
---|---|---|
Previous Week | N7.90 | – |
Current Week | N7.30 | -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.