• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

In A Remarkable Twist, Skye Bank Share Price Was Up 41% In One Week

Nairametrics by Nairametrics
July 24, 2016
in Business News, Currencies
Skye bank chart
Share on FacebookShare on TwitterShare on Linkedin

Shares of Skye Bank Plc was up a whopping 41% at the end of trading Friday July 22, 2016 in a remarkable turn around for a bank that has been under fire since the CBN announced that it had failed prudential ratios.

Skye Bank shares dropped to as low as 60 kobo per share after the Central Bank of Nigeria announced that it had reached a deal for its Chairman, CEO and some other directors of the bank to resign following the revelation that the bank had fallen short of capital adequacy ratios as well as liquidity ratios. Investors panicked dumping the shares in droves amidst fear that the bank could be Nationalized.

The new Management of the Bank as well as the CBN then commenced a major damage control initiative that was meant to restore confidence in the banks financials presenting a view that the current problems befalling the bank was mostly regulatory and not structural. They opined that with time, the bank will turnaround its fortunes.

RelatedStories

Leatherback wins ‘Banking as a Service Innovator of the Year 2025’

Leatherback wins ‘Banking as a Service Innovator of the Year 2025’

October 9, 2025
Veritas Kapital Assurance Grows Profit After Tax by 46% in 2022 AFS

Veritas Kapital seeks shareholder approval for N15 billion capital raise at AGM 

October 9, 2025

However, the shares of the bank started a major rally after the news broke that the bank had reached a deal with Integrated Energy to refund $87.8 million. The bank was also reported to have received a bailout fund from the CBN in the form of a loan to enable it meet demand pressure from depositors who were scrambling to pull out their funds.

Trading Stats

DateClose% ChgVol
4/7/160.95-9.5210,832,684.00
8/7/160.87-8.4221,592,573.00
11/7/160.79-9.29,714,686.00
12/7/160.73-7.591,659,108.00
13/07/20160.67-8.224,226,681.00
14/07/20160.61-8.964,499,788.00
15/07/20160.6-1.6461,304,814.00
18/07/20160.6610138,258,326.00
19/07/20160.729.0957,710,403.00
20/07/20160.788.3335,948,471.00
21/07/20160.858.9754,000,541.00
22/07/20160.85041,002,935.00

A look at the trading data in the last 12 days reveals there was a major spike in volumes traded between the 18th and 22nd of July indicating that there were market makers scooping up significant volumes of the stock at whatever price was available. Over 360 million shares has been traded in the last 6 days ending in a positive gain for the stock. The rally fizzled out on Friday after the stock closed neutral. Whilst some analysts suggest the stock is now in a bearish phase, it is hard to bet against the bulls especially at these sort of volumes. We will continue to watch this stock closely.

 

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.

Related Posts

Leatherback wins ‘Banking as a Service Innovator of the Year 2025’
Companies

Leatherback wins ‘Banking as a Service Innovator of the Year 2025’

October 9, 2025
Veritas Kapital Assurance Grows Profit After Tax by 46% in 2022 AFS
Companies

Veritas Kapital seeks shareholder approval for N15 billion capital raise at AGM 

October 9, 2025
Nigerian farmers get N6.5 billion insurance cover
Agriculture

Bank lending to agriculture rises to 5.33% in May 2025-NIRSAL 

October 9, 2025
LemFi launches AI-powered “Send Now, Pay Later” service, combining credit and remittances for UK Immigrants 
Companies

LemFi launches AI-powered “Send Now, Pay Later” service, combining credit and remittances for UK Immigrants 

October 9, 2025
Dangote Cement
Equities

Dangote Cement trades N11 billion as ASI tops 146,000, up 42% YTD 

October 9, 2025
Coca-Cola system champions circular economy dialogue at 31st Nigerian Economic Summit in Abuja 
Companies

Coca-Cola system champions circular economy dialogue at 31st Nigerian Economic Summit in Abuja 

October 9, 2025
Next Post
Bellwether Stocks In Nigeria And What It Means

Bellwether Stocks In Nigeria And What It Means

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

arco
Palmpay
access bank
nairametrics
first bank








DUNS

Recent News

  • Leatherback wins ‘Banking as a Service Innovator of the Year 2025’
  • Veritas Kapital seeks shareholder approval for N15 billion capital raise at AGM 
  • Bank lending to agriculture rises to 5.33% in May 2025-NIRSAL 

Follow us on social media:

Recent News

Leatherback wins ‘Banking as a Service Innovator of the Year 2025’

Leatherback wins ‘Banking as a Service Innovator of the Year 2025’

October 9, 2025
Veritas Kapital Assurance Grows Profit After Tax by 46% in 2022 AFS

Veritas Kapital seeks shareholder approval for N15 billion capital raise at AGM 

October 9, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics