Jaiz Bank Value Increases by 11.2% to N86 Billion
Jaiz Bank Plc was priced at N86.007 billion on the Nigerian Exchange (NGX), which is about 11.2% higher than its previous market value.
The higher market valuation was achieved due to investors taking positions in the Islamic lender ahead of third quarter earnings season.
Trading data obtained from the Nigerian Exchange showed that the non-interest banking financial services share price surged to N2.49% in the equities market, up from N2.24 in the previous week.
The Nigeria’s premier Islamic financial institution latest market valuation is considered to be 37.90% below its 52- week high.
The bank had reached N4.01 per share earlier in the year before it nosedived due to profit taking on one side, and market correction on the other side.
Given the huge gap between its 52-week high and the latest price, Jaiz Bank is volatile, which continues to creating fresh entry and exit positions for investors. # Jaiz Bank Value Increases by 11.2% to N86 Billion
