Banking Stocks Recorded N853.8billion Loss in 2015

Banking stocks were hit badly in 2015 as 13 banking and three bank affiliate stocks record huge decline of N853.820 billion in their share prices.
The woe in banking and bank affiliate stocks reduced their stock prices drastically during the review period of 2015.
The loss recorded in 13 bank stocks during the year under review was 52.45 per cent of N1.628 trillion of entire equities’ loss in the year.
At the end of the year none of the most vibrant sector stocks traded above N20.00 kobo despite that Guaranty Trust Bank and Stanbic IBTC Holdings shares opened the year above N20.00 kobo.
Investigation carried out by Daily Trust revealed that only two banking stocks appreciated during the year 2015.
A breakdown of banking stocks transactions in 2015 indicates that Guaranty Trust Bank share recorded the highest loss in terms of value with N206.018 billion from N25.18 kobo to end the year with N18.18 kobo as it has 29.431 billion shares outstanding.
Zenith Bank value followed by N136.889 billion dropped from N18.41 kobo per share to close at N14.05 kobo.
FBN Holdings dropped N131.736 billion as it has 35.895 billion shares outstanding. It share price dropped from N8.80 kobo to N5.13 kobo per share in the year.
Stanbic IBTC Holdings share price declined from N27.00 kobo to N16.53 kobo during the year. It depreciated by N104.700 billion in market capitalisation in 2015.
Also, Diamond Bank share value in 2015 dropped by N75.966 billion as it share price moved down from N5.58 kobo to end the year with N2.30 kobo. Access Bank suffered a loss of N50.624 billion in its share value from N6.60 kobo it opened the year to N4.85 kobo it closed the year.
Other banking and bank affiliate stocks that dropped during the review year are UBA, Ecobank Transnational Incorporated, Union Bank and Sterling Bank with N33.377 billion, N32.662 billion and N20.441 billion respectively.
While FCMB, Skye Bank and Fidelity Bank market capitalisations fell by N15.842 billion, N14.991 billion and N3.477 billion correspondingly.
Only two banking stocks namely, Unity Bank and Wema Bank stocks appreciated in price between January to December 2015.

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