First Bank Reports N74 Billion Bad Loan

Posted by: Remii
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Quote from: dkings101 on Today at 12:44:12 AM
He can open tat his smelling mouth to say "Shareholders of the eight banks as automatically lost there investors" then what happen to first bank investor. Now every1 can see that is approach for the sacking of the Bank CEO was political and northern agenda. He even had skeleton in his cupboard and he is worried about others. Pls make una no forfeit my money oo if una no wan make God punish una. Stupid CBN and Nigerian Govt, mess up Nigeria and there ideology.

My friend if you had bought Oceanic, UBN, Afribank, ICB and PHB shares at N22, N30, N22, N34, N17 respectively and they are all worth less that N2 now, when do you hope to recoup your investment. Meanwhile  FBN, GTB etc are are doing good and paying dividends so let be object and alllow some people to fix this Quatry (country)  We complain of bad government and underdevelopment but abhor harsh realities.


Maybe you should start by asking when will the investors who purchased First Bank shares at over 50 and 60 naira recoup their investments? If you answer that question, that will be true for other investors holding the shares of the banks you stated above. By the way, where did you see those shares trading less than 2 naira? I do not think any of those bank's shares is trading for less than 3 naira. I hope you did not intentionally misstate the share prices for the purpose of your argument.

On what basis did you form the opinion that First Bank is the most honest bank? Do you know any of the current 5 biggest bank in Nigeria that has ended the current financial year and did not pay dividend? Are you privy to any of First Bank's corporate and business strategies that gives you insight that next year would be awesome and opportunities is boundless?

FBN did not drop from N60 to present value, since then they have given divided of N1.2, N1, and N1.35 respectively. They have given also bonuses of 1 for 4 and 1 for 6. At current price of N14 your N60 shares of 2007 is about N45 now which means you could get your money if you sold at N20, this is possible and I mean very soon. Remember also that when FBN was N60 the likes of Oceanic was at N38 and ICB was N44, PHB was N28, while Oceanic has given N1.20 since then and only 1 for 10 with no bonus this year (yet to be effected though), ICB has not given anything till it dropped to present near valuelessness.
I have shares of these people and I can tell you they dealt with us shareholders big time.