Nigerian Commercial Banks Trade Over N800 million Naira In A Week After Using New Strategies

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Nigerian Commercial Banks Trade Over N800 million Naira In A Week After Using New Strategies

Nigerian Commercial Banks Trade Over N800 million Naira In A Week After Using New Strategies.

Recently, the number of bank shares that were traded has increased compared to the amounts that were traded at the beginning of last year. You might be wondering what could have caused the increase in the purchase of Sterling, Zenith Bank stocks.

Well last week, Sterling Bank traded over eight million assets worth about one hundred million naira in total. The bank attracted more investors after it said it was going to start its operation as a holding company.

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Nigerian Commercial Banks Trade Over N800 million Naira In A Week After Using New Strategies

That is to say that, the bank will make investors own more private equities shares that they cannot naturally own individually until these private equities decide to go public. A good example is the Facebook company or warren buffet’s Berkshire Hathaway that holds other companies in it.

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As for Zenith bank, they have had more transaction volumes due to the fact that they increased the dividend of shareholders from last year’s trading profits. The general managing director said that they had applied some retail banking strategies that enabled them to achieve an increase in earnings per share by five percent. They created a business continuing plan by increasing the methods through which transactions could be carried out digitally.

Wema bank was not left out as they clinched the title of top leaders in the digital transaction and small scale business bank closing with gross profit of eighty billion naira and their trading volume increased by thirty percent and reducing staff experience by one billion naira.

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Many other commercial banks also had a profitable week because of the favorable policies set up to attract customers for more wealth acquisition after the economic turnover of last year. In fact, the banking and insurance sector had a good week as the trading volumes of their stocks increased.

The customer commodities sector also seemed to be increasing in profit too.

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From Toktok9ja Media

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