NSE benchmark index down -16.68% YTD as MSCI delist Nigerian financial institutions

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MSCI, a global provider of financial instruments and multi-asset portfolio analysis tools, will delist two of Nigerian listed financial institutions from its MSCI Frontier markets Index for underperforming the NSE benchmark index at -16.68 percent year-to-date.

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The two financial institutions are Ecobank Transnational Integrated Plc (ETI) and FBN Holdings Plc.

The value of a unit ETI share declined by 50 percent in the last 12 months to N7, while FBN Holdings lost 31.3 percent to N5.45 per share. Both companies will be delisted on November 26, 2019.

However, a total of four new companies will be added to MSCI Frontier Markets Large Cap Index while eight will be delisted.

The three largest additions are Nova Ljubljanska Banka (Slovenia), Ho Chi Minh City Dev Bank (Vietnam) and Commercial Bank Ceylon (Sri Lanka).

While MSCI Frontier Markets Small Cap Index will witness 13 additions and 17 deletions.

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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