Jaiz Bank Jumps by 9.28% as Board Members Meet

Jaiz Bank Plc climbed by 9.28%, pushing the Islamic lender’s share price to N2.59 on the Nigerian Exchange on Monday from N2.37 at the beginning of the trading session this week.

The fresh rally on the banking shares followed today’s meeting held by the non-interest bank’s board of directors to consider third quarter unaudited financial statement.

At the latest market price, the non-interest financial services valuation inched near N90 billion amidst strong share volume trading in the equities market.

The buy side puffed up Jaiz Bank share price and market value ahead of third quarter earnings season while market also await the non-interest lender’s capital raising programme.

Analysts noted that even with the price surge, Jaiz Bank is still trading significantly below its 52 week high on the Nigerian Exchange trading platform.

Data from the domestic bourse revealed that Jaiz Bank Plc is trading at more than 36% discount below its best price of N4.01 in 12 months. #Jaiz Bank Jumps by 9.28% as Board Members Meet Naira Rises against US Dollar Ahead of Sept. FX Auction