Author: Marketforces Africa

MarketForces Africa, a Financial News Media Platform for Strategic Opinions about Economic Policies, Strategy & Corporate Analysis from today's Leading Professionals, Equity Analysts, Research Experts, Industrialists and, Entrepreneurs on the Risk and Opportunities Surrounding Industry Shaping Businesses and Ideas.

Tier-1 Banks Shrink to N5.8Trn as Investors Rebalance Portfolios The combined market value of Nigerian Tier-1 banks declined as equities investors’ mood shifted ahead of the fourth quarter 2023 earnings festival. Access, Zenith, UBA, FBNH and GTCO share prices declined week on week, market data tracked by MarketForces Africa revealed. From more than N6.132 trillion registered at the beginning of last week, these big lenders’ combined market capitalisation dropped below N5.8 trillion on Friday. The decline in the equities market cap of the five leading deposit money banks came ahead of the company’s fourth quarter of earnings releases. Most investment…

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