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The market capitalization of the top five banks, referred to as the Tier-1 banks received a low down to N2.66 trillion at the close of business on Friday, 29th of October, 2021 as investors in these banks lost N23.97 billion during the trading week, with FBNH championing the decline.

After the five (5) trading days of the week, 4 of the 5 tier-1 Nigerian banks enjoyed positive market sentiments while FBNH recorded depreciation in share price.

According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks declined to N2.66 trillion to depreciate by 0.9% during the week.

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During the week, investors traded 718,653,906 units of the bank’s shares valued at N8.67 billion, making the bank’s stock the most traded in volume and value amongst the FUGAZ.

The volume of shares traded appreciated by 70.49%, when compared to 421.53 billion units traded the previous week. The bank traded the highest number of shares in volume amongst the FUGAZ, trading its highest on Monday at 350.54 million units of shares, valued at N4.35 billion.

FBNH Plc’s third-quarter result is yet to be released.

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