Fidelity Bank gained 90.8 percent on price valuation year-to-date as it closed its last trading day on Friday, September 29, 2023 at N8.30 per share on the Nigerian Exchange (NGX).
The price represents a 1.2% gain over its previous closing price of 8.20 NGN.
Fidelity began the year with a share price of 4.35 NGN and has since gained 90.8% on that price valuation, ranking it 38th on the NGX in terms of year-to-date performance.
Market analysts said shareholders can be optimistic about Fidelity Bank knowing the stock has accrued 18% over the past four-week period—eighth best on NGX.
Findings showed that Fidelity Bank is the eighth most traded stock on the NGX over the past three months (Jul 4 – Sep 29, 2023). It has traded a total volume of 1.77 billion shares—in 16,279 deals—valued at N13.9 billion over the period, with an average of 28.1 million traded shares per session.
A volume high of 85.1 million was achieved on September 4th, and a low of 1.9 million on September 20th, for the same period.
THEWILL recalls that Fidelity Bank mid-September announced the completion of its 100 percent acquisition of Union Bank UK, a subsidiary of Union Bank Plc.
The bank said that the completion was furtherance to its notice of acquisition made on August 2, 2022, and signifies the bank’s intent to expand its international portfolio.
The Tier-2 lender said, “The bank is pleased to announce the completion of the transaction and receipt of the approval of the Bank of England’s Prudential Regulatory Authority (PRA) for the change of control of UBUK.”
The bank said that the Central Bank of Nigeria had earlier issued a letter of “No Objection” to the transaction, making it easy for this completion process.
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