Wednesday, December 19, 2018

Access Bank Loses Big As Investors Offload Shares

Access Bank Plc emerged the biggest loser at the end of trading on the Nigerian Stock Exchange on Tuesday as some investors sold off their shares, The Punch reports.

The bank recorded a 5.52 per cent decline in its share price as it fell to N7.70 on Tuesday from the N8.15 recorded on Monday, the paper states.

Following an announcement on Monday confirming its proposed merger with Diamond Bank Plc, Access Bank’s share price gained 9.40 per cent that day to close at N8.15 from N7.45 on Friday.

However, the gain recorded on Monday was pared on Tuesday as the bank’s share price fell, while the volume of trade increased by 63.11 per cent to 22.2 million units from 13.6 million units on Monday.