By Ogbuotobo Chuks

Barely after days of marking down the prices of two of the most hottest stocks on the for of the Nigerian Stock Exchange, as a result of payment of dividend and bonus shares, the share prices of Oceanic Bank Plc and United Bank for Africa have started appreciating rapidly.

The shares of Oceanic Bank were marked down to about N12.00 on January 17, 2007 while that o UBA was marked down to N27.86 last week. By the close of trading on January 26, 2007, the shares of oceanic bank and UBA were trading for N13.79 and N29.88 respectively.

This is indeed a proof that these two institutions have what it takes to give investors a good return at the end of the day. The increase in share price is also a clear indication of the confidence the Nigerian public have in these banks.

It would be recalled that these two institutions also bagged some awards last year that also singled them out from the counterparts.

Oceanic Bank won the award for the Nigerian bank of the year both nationally and internationally, while UBA was recognized as the first west African and Nigerian bank to achieve a balance sheet in excess if N1 trillion.

(No Ratings Yet)

 Loading ...

This entry was posted on Monday, January 29th, 2007 at 11:56 am and is filed under Stock Market News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.