The counter, which closed at $7 000 000 on Friday, yesterday opened at $9 000 000 and reached $13 000 000 in the last call. A total of 337 298 shares were traded.
NMB, which serves a niche market, had its foreign currency license withdrawn in May last year on allegations of risk management malpractices, which dragged the share price down and widened the gap between NMB and other financial counters.
The reinstatement immediately calmed attendant perceptions in the market of the share as a risky bet, and put it on a roller-coaster.
Only a rally of a steep magnitude could bring the NMB share price to parity with others banks, which are currently trading at prices at least three times higher.
In yesterday’s trade, ABCH closed at $350,000,000, while Barclays and FBC closed at $90,000,000 and $28,000,000, respectively.
Post published in: News