Ecobank Stock Gains 16.09% in Last 6months

 

The NGX Banking index is designed to provide an investable benchmark to capture the performance of the banking sector, which comprises the most capitalized and liquid companies in banking. The NGX Banking Index comprises 10 companies.

As of close of business on June 17, 2022, the NGXASI YtD return dipped by 14.03% to +20.28% from +23.59% on June 10 2022. But in terms of its 1-year return, the Index has gained 34.09%.

On the other hand, the NGX Banking Index has lost -0.88% year-to-date and has a 1-yr return of 11.67%.

From the banks’ released Q1 2022 financial statements, the banks combined net loans and total deposits as at March 31, 2022, stood at N20.974 trillion and N30.008 trillion respectively with Ecobank Transnational topping; accounting for 26.42% of total deposit and 22.81% of net loans.

In terms of total assets and total equity, the 10 banks have combined total assets of N50.914 trillion and total equity of N4.574 trillion as at March 2022 with Access Holdings topping, accounting for 23.0% of the combined total assets and 22.96% of the combined total equity.

ECOBANK TRANSNATIONAL INC +16.09%

ETI has been listed on the NGX since September 11th 2006 and is currently the 18th and 4th most valuable stock on the NGX and NGX banking respectively with a market capitalization of N185 billion, which makes about 10.06 percent and 0.677 of the NGX Banking and NGX equity market capitalization respectively.

ETI current share price is N10.10.  The Bank closed its last trading day on June 20, 2022, at N10.10.  It began the year with a share price of N8.70 and has since gained 16.09% on that price valuation, ranking it 4th on the NGX Banking and 41st on the NGX market in terms of year-to-date performance. Fidelity Bank shareholders can be optimistic about Fidelity knowing that the stock has gained 94.23% over the past 1-yr period, ranking it 2nd on the NGX Banking.

ETI is the 11th most traded stock on the NGX over the past three months.  It has traded a total volume of 458 million shares in 3,373 deals valued at N5.39 billion over the period, with an average of 7.28 million traded shares per session.

As at March 31, 2022, ETI has total assets of N11.265 trillion, a decrease of 2.55 per cent from its December 31, 2021 position of N11.560 trillion.  The bank has N8.193 trillion deposits and N4.784 trillion net loans, ranking it 1st on the NGX banking.