Jaiz Bank Shares Surge 9.28% Ahead of Board Meeting
Jaiz Bank Plc shares soared by 9.28% on Monday, boosting the Islamic lender’s share price on the Nigerian Exchange to N2.59, up from N2.37 at the week’s opening. The surge follows a board meeting held to review the bank’s unaudited third-quarter financial statement.
At this new market value, Jaiz Bank’s valuation has risen close to N90 billion amid strong trading volumes in the equities market. This buying momentum comes as investors anticipate the bank’s upcoming earnings report and await news on its planned capital raising programme.
Analysts observed that despite the recent rally, Jaiz Bank’s stock remains considerably below its 52-week high on the Nigerian Exchange, still trading at a 36% discount from its peak price of N4.01 over the past year.
The renewed investor interest reflects confidence in Jaiz Bank’s performance, particularly as the non-interest lender prepares to release its third-quarter financial results. Nigeria Secures 4bn Jindal Investment in Akwa Ibom Steel
