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LequteMan
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Diamond Bank has been listed as one of the worst performing stock in the country for year 2015.
Related: 10 Worst Performing Stocks in Nigeria For Year 2015 [See LIST[
According to a Nairametrics report, Diamond bank has lost 58% of its value and leads the pack as one of the worst performers in the banking stock.
The report says investors are punishing the bank for its high levels of loan impairments and its potential impact on the bank’s capital adequacy ratios.
The bank has also reported a 21% drop in pretax profits which implies that it might not pay significant dividends in 2016.
Related: 10 Worst Performing Stocks in Nigeria For Year 2015 [See LIST[
According to a Nairametrics report, Diamond bank has lost 58% of its value and leads the pack as one of the worst performers in the banking stock.
The report says investors are punishing the bank for its high levels of loan impairments and its potential impact on the bank’s capital adequacy ratios.
The bank has also reported a 21% drop in pretax profits which implies that it might not pay significant dividends in 2016.
