Zenith Bank Board Approves 2018 Audited Accounts

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  • Zenith Bank Board Approves 2018 Audited Accounts

The board of directors of Zenith Bank Plc has approved the bank’s financial results for the year ended December, 31, 2018. In a notification to the Nigerian Stock Exchange (NSE), the Company Secretary-General and Counsel, Zenith Bank, Mr. Michael Otu, said that the results was approved on January 18.

“Consequent upon the approval, the said audited accounts will be forwarded to the Central Bank of Nigeria (CBN) for approval in line with regulatory requirements after which the bank will notify the exchange of the results,’’ Otu said.

Media had reported that the board of the bank would meet to approve the results and final dividend for the year.

Meanwhile, trading resumed on the exchange on a negative note yesterday after seven days of growth. The NSE All-Share Index (NSE ASI) shed 0.88 per cent due to profit taking cent to close at 30,732.72 compared to 31,005.17 posted on Friday.

Also, the market capitalisation, which opened at N11.562 trillion lost N102 billion or 0.88 per cent to close at N11.460 trillion.

Seplat led the losers’ chart, dropping by N46 to close at N530 per share.

Mobil Oil trailed with a loss of N8 to close at N180, while Dangote Cement was down by N4.90 to close at N190 per share.

Lafarge Africa dipped 40k to close at N12.40, while Etranzact depreciated by 31 kobo to close at N3.25 per share.

On the positive side, Cement Company of Northern Nigeria led the gainers’ chart , appreciating by N1.80 to close at N26.90 per share. NEM Insurance followed with a gain of 12 kobo to close at N2.60, while FCMB Group appreciated by seven kobo to close at N1.83 per share.

Linkage Assurance added five kobo to close at 61kobo, while United Bank for Africa grew by five kobo to close at N7.35 per share.

A breakdown of the activity chart shows that Diamond Bank was the most active stock, exchanging 239.36 million shares worth N497.89 million.

Guaranty Trust Bank followed with 119.35 million shares valued at N3.79 billion, while Zenith Bank sold 26.11million shares worth N563.19 million.

NEM Insurance traded 21.16 million shares valued at N57.46 million, just as FBN Holdings transacted 15.97 million shares worth N115.64 million.

In all, exchanged 499.21 million shares valued at N5.53 billion in 3,874 deals, compared with 300.80 million shares worth N3.76 billion traded in 3,317 deals on Friday.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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