Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Guaranty Trust Bank Falls Most in Over Three Months: Lagos Mover

Guaranty Trust Bank Plc, Nigeria’s biggest lender by market value, fell the most in more than three months after the stock reached a record high yesterday.

The shares dropped 4.2 percent to 20.11 naira by the close in Lagos, Nigeria’s commercial capital, the biggest decline since June 21. Guaranty advanced 9.6 percent yesterday, reaching 20.98 naira, the highest since at least January 2002, when Bloomberg began tracking the stock.

“Guaranty overshot the 20 naira psychological price yesterday so we expected investors to begin to harvest their gains today,” Abiola Rasaq, a Lagos-based analyst at Vetiva Capital Management Ltd., said by phone today. “We see the stock stabilizing at between 19.20 naira and 19.30 naira” by year-end, he said.

The Nigerian Stock Exchange chose Guaranty and 15 other stocks as trial securities in market-making activities that began Sept. 18. The bourse raised their daily price movement limit to 10 percent, from the 5 percent that applies for all other stocks.

First-half profit at Guaranty jumped 66 percent to 45 billion naira ($286 million), the lender said Aug. 30.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.