Home Markets Diamond Bank continues sinking as FCMB drops Q3 2018 results

Diamond Bank continues sinking as FCMB drops Q3 2018 results


The Nigerian Stock Exchange fell sharply in today’s trading session as the All Share Index closed at 30,611.55 basis points, down 1.33%. Year to date, the index is down 19.96%.

Top Gainers and Losers

Veritas Kapital Assurance was the best performing stock today. The stock appreciated by 10% to close at N0.22. Ikeja Hotel was next, gaining 9.80% to close at N1.68. Mutual Benefits Assurance rounds up the top three gainers, adding 8.70% to close at N0.25.

On the flip side, ABC Transport was the worst performing stock today. The stock declined by 9.68%, closing at N0.28. Diamond Bank was next with a 9.59% fall, closing at N0.66. The stock is now trading at a new 5 year low, down 37.7% from last week.

John Holt Plc, rounds up the top 3 losers for the day with a 9.09% decline to close at N0.40.

Top Trades by Volume

Universal Insurance Plc was the most actively traded stock today. 150 million shares valued at N30 million were traded in 21 deals. Access bank was next with 73 million shares valued at N503 million traded in 160 deals. Stanbic IBTC Holdings rounds up the top three with 43 million shares valued at N2.1 billion traded in 26 deals.

Corporate Actions


FCMB released its results for the nine months ended September 30, 2018. Gross earnings increased from N118 billion in 2017 to N132 billion in 2018. Profit before tax jumped from N6.8 billion in 217 to N14.7 billion in 2018. Profit after tax also surged from N5.4 billion in 2017 to N11.3 billion in 2018.

Resort Savings and Loans

 Resort Savings and Loans released its results for the 2016 financial year. Gross earnings fell from N1.5 billion in 2015 to N883 million in 2016. Loss before tax stood at N677 million in 2016, as against N447 million made in 2015.


  1. I didn’t see anything wrong with the caption. The public should be finished with the true picture and state of companies at all times. The media must always report in fairness no matter whose ox is gored.

    In practice, it’s a huge crime for a media to protect and publish or give cosmetic overview, when in actual sense a company is in bad shape.

    We’re are talking about people’s investment very close to their lives, and someone is crying foul about wanting a bank to go down. No doubt you’re a Diamond bank staff, concentrate on rendering quality service to your customers than quarreling with media reports published on the basis of constructive and investigative journalism. Peace.

  2. I think Olatunde has some substantial shares in Diamond Bank, hence trying to curb the writer from updating the populace before making their decision.

    I will buy when it is 0.5 or lesser.


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