Sell-off hits bank valuations as stocks trade at depressed P/B ratios
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Nigerian banks have been particularly hit hard by the sell-off in the stock market with lenders trading at depressed valuations using the price-to-book (P/B) ratio measure. The P/B ratio compares a firm’s market value to its book value. It is calculated by dividing the current closing price of the stock by the latest quarter’s book…
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