Nigerian banking stocks surge 12.24% as lenders raise over $662 million in new capital
- Nigerian banking stocks surged after major lenders raised over ₦1 trillion from the stock market.
- The NGX Banking Index increased by 12.24% at market close on February 14.
- GTCO's share price rose by 12.90% since January 7, closing at ₦63.45.
While the surge in Nigerian banking stocks is encouraging and reflects a growing investor confidence, it is essential to remain cautious. The sustainability of this growth hinges on broader economic stability and the banks' forthcoming financial disclosures. Investors should monitor these factors closely to make informed decisions.
