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Home Opinions Blurb

Skye Bank Share Price Nosedives

Nairametrics by Nairametrics
July 8, 2016
in Blurb, Currencies
Skye Bank Share Price Nosedives

Skye Bank Logo

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Skye Bank's Chart as at July 8 2016
Skye Bank’s Chart as at July 8 2016

As expected investors in the Nigerian Stock Exchange flew out of the gates to dump their shares in Skye Bank Plc. The share price opened at 91 kobo before dropping to as low 87 kobo per share.

The Central Bank on Monday issued a press release informing investors that it had instituted a board and management change at the bank following its inability to get out of what it calls a “precarious” situation. Skye Bank is yet to release its 2015 full year results and has not released its 2016 Q1 results either.

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Skye Bank’s share price is down 45% year to date and 67% in the last one year. The bank last released its results for the period ended September 2015 wherein it reported a profit before tax of N14.9 billion representing an increase of 21% over the same period in 2014.

 

Tags: Skye Bank
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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