Jaiz Bank Outperforms Banks, Others With 107% Gain

Kayode Tokede

Jaiz Bank Plc recorded almost a double of average gains in the stock market and the banking sector in the first four months of this year in a bullish run that highlighted investors’ confidence in the bank’s outlook.

Year-to-date analysis at the Nigerian Exchange (NGX) showed that investors in Jaiz Bank Plc saw the total value of their portfolios rising by 106.6 per cent within the first four months of this year, compared with average gain of 55.69 per cent recorded by the overall market benchmark and 50.50 per cent average gain recorded in the banking sector.

Jaiz Bank’s share price, which opened this year at N4.55 per share, closed weekend at N9.40 per share, representing net capital gain of 106.6 per cent. The All Share Index (ASI)-the value-based common index that tracks all share prices at the Exchange and serves as average benchmark for Nigerian equities market, closed the period with year-to-date return of 55.69 per cent. The NGX Banking Index- which tracks the banking sector, posted a four-month average gain of 50.50 per cent.

Jaiz Bank’s return also outperformed all other highpoints of the Nigerian bullish market and comparable banking stocks. The NGX Premium Index-an exclusive index for high-value stocks recorded average return of 76.64 per cent. The NGX Pension Index- which tracks specially screened stocks that meet criteria for investment of pension funds, rose by 69.02 per cent. The NGX 30 Index- which measures the performance of Nigeria’s 30 largest quoted companies, closed with average gain of 55.55 per cent.