The combined market value of Nigeria’s top five banks reached N6.2 trillion last Friday, driven by investor demand for tier-1 stocks. Data from Bizwatch Nigeria revealed that three of the five banks—Zenith Bank, Access Holdings, and United Bank for Africa (UBA)—recorded gains, while GTCO remained flat and FBN Holdings saw a slight decline.
GTCO
Guaranty Trust Holding Company (GTCO) retained its position as the most valuable listed financial institution on the Nigerian Exchange (NGX). With a market value of N1.677 trillion, GTCO’s share price held steady at N57, just below its 52-week high of N58.75. The bank’s strong demand and consistent performance have solidified its leadership in the sector.
Zenith Bank
Zenith Bank followed closely with a market value of N1.459 trillion. Its share price closed at N46.50, slightly below its 52-week high of N47.35. The bank gained over N17 billion last week, buoyed by investor optimism and strategic diversification efforts, including its expansion into Paris.
UBA
UBA’s market value climbed to N1.193 trillion, driven by increased investor interest and strong earnings expectations. Its share price rose from N34.55 to N34.90 during the week, following a rally that pushed the stock to a new 52-week high of N37.80. UBA’s Pan-African footprint continues to attract value-driven investors.
FBN Holdings
FBN Holdings experienced a slight dip, losing about N5.4 billion to close at N1.003 trillion. Its share price settled at N27.95, reflecting a minor pullback due to profit-taking and internal restructuring efforts. Despite the decline, analysts remain optimistic about the bank’s potential in 2025.
Access Holdings
Access Holdings, Nigeria’s largest lender, had the lowest market valuation among the top five, closing at N870.585 billion. Its share price edged up to N24.50, supported by successful recapitalization efforts and strategic acquisitions. Analysts noted that while Access Bank’s stock tends to move more slowly compared to its peers, its long-term outlook remains strong due to its ambitious expansion and earnings potential.
