It appears the sell pressure on banking stocks is receding and our bets on the tier one banks remaining resilient amidst the pressure is paying off. GTB is one of the stocks in our portfolio that we long recommended despite the sell pressures in the market. This was a stock that fell to as low as N23 a few months ago.
With its recently released results, though flat on growth, investors still believe the dip is just a one off and may well be rewarding it with as the share price itches closer to its one year high. The stock is now just about N2 of its high of about N30. Any bet against it not getting there?
Follow the link below for the share price details.
http://mobile.bloomberg.com/quote/GUARANTY:NL