Sterling Bank Investors Looses N3.45bn
Sterling Bank investors have lost N3.45billion amidst sideways trading. Information Guide Nigeria
In a report filed by Ripples Nigeria, from August to September, when Sterling Bank value rises in the Capital Market, holders of the lender’s share engage in profit-taking and cutting short the firm’s intending bullish run.
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This comes as a result of the capital market’s positive reaction towards the result stating that PAT rose by 5.1 percent and revenue rose to 2.5 percent which is N68.60 billion in Q2, 2021 when compared to the N66.94 billion which was recorded at same time, last year.
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Ripples Nigeria reports that first week after the announcement of the Q2 results, Sterling Bank‘s market value bumped up to N45.77 billion yet profit-takers throw spanner in the works as shareholders cashed in on the market’s renewed interest in the lender.
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