According to the latest report from the Nigerian Stock Exchange the banking index has returned -4.24% this year to date. This is no surprise considering the regulatory head winds that has become accustomed with the banking sector. However, one bank has seemingly not been affected by all of this and has indeed returned 42% as at September 19th 2014.
That bank is Ecobank. If you had bought Ecobank shares at their year low of N12.40 then you should have returned a massive 53% by now considering its current price of N19. Ecobank was trading that low at the time as news of its board squabbles and doubts surrounding its results left investors with no choice than to dump the shares.
Opportunities surround us everyday and one way to find one is when a stock price is getting beat up for factors not directly associated with its results. Usually when the dust settles the market feels confident to buy again pushing up share prices.