UBA Jumps Ahead of Bumper Earnings Expectations
UBA Plc market value jumped in the equities market despite tight weekly trading performance in Nigerian Exchange. The banking group added 3.1% to its market value as price jumped as a result of increased positioning ahead of earnings release.
The market expects 2024 earnings scorecards to be posted as soon as it obtained the CBN approval as well, the results of its capital raise is currently hanging. With a positive corporate governance rating by the regulator, UBA has pending regulatory report that’s currently mission as reflected on MRF tag on its NGX account.
UBA earnings performance and expectations that the group could step up dividends payouts ratio drove the momentum last week. Trading records revealed that the banking stock bucked trend on NGX which ended the week negative.
UBA is in the process of meeting N500 billion in new capital required by the CBN….12 months before the deadline. At the close of the trading session on Friday, investors priced UBA for #1.2 trillion, up by 3.1% week on week. #UBA Jumps Ahead of Bumper Earnings Expectations#
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