Market Value of All Nigerian Listed Banks Rises to N15.65trn
Driven by market-wide positive sentiment, the banking index climbed by 5.36% as the market value of Nigerian-listed deposit money banks surged by about N700 billion in four days in the equities market.
MarketForces Africa’s research note showed that the stock market valuation of all listed banks increased by N699.840 billion to close at N15.646 trillion on Friday. With a 27.84% year-to-date return, the local bourse has seen sharp growth that has eclipsed the inflation rate, as growth has been fueled by fear of missing out (FOMO) ahead of earnings releases.
The Nigerian Exchange (NGX) was all green throughout the week, supported by investors improved sentiment ahead of the earnings release for second quarter of 2025. Investors have continued to shift attention to banking stocks in anticipation of interim dividend payments from major lenders like GTCO, Zenith, and UBA, among others.
According to MarketForces Africa Research data, the combined market value of all listed banks increased by N700 billion as bargain hunting on financial institutions with strong fundamentals persisted. The stock market year-to-date accelerated above the annual inflation rate of 22.22% as the Nigerian market continues to provide inflation-protected returns.
The NGX All-Share Index (ASI) surged past the 131,000 psychological barrier to close at 131,585.66 points, representing a 4.31% week-on-week gain. Trading details obtained from the Nigerian Exchange revealed that GTCO, Zenith, UBA, Access Holdings, and First Holdco posted weekly gains. The Tier-1 banks combined gain totalled N541.978 billion at the close of the trading session on Friday.
FirstHoldco Plc led the pack with total capital appreciation of N201.013 billion amidst block trade transactions among its competing influential shareholders. Access Holdings Plc pushed its market valuation higher by more than N109.310 billion as investors sentiment improved ahead of earnings release for Q2.
UBA gained N102.598 billion amidst a fresh capital raise via rights issue to existing shareholders, completing the group’s previous offering towards meeting N500 billion recapitalisation.
Zenith Bank Plc’s market value grew by about N94.5 billion despite last-minute profit-taking that dragged the financial institution down the ladder in the market on Friday.
GTCO Plc added N34.60 billion to its market value on the back of front and back trading patterns that saw its share price at N103.20 before the pullback. Meanwhile, the Nigerian small lenders in the tier-2 and tier-3 categories gained N157.862 billion, driven majorly by gains in Stanbic IBTC Holdings.
Heavyweight among tier 2 lenders, Stanbic IBTC, gained N166.173 billion in an all-week rally that pushed the NGX index into a new high.
Sell pressures in FCMB and Fidelity Bank reduced total gain recorded by Tier-1 banks listed in the local bourse. Fidelity Bank faced sell pressures as AMCON exited its position amidst huge judgment debt facing the lender.
Hence, Fidelity Bank’s market value declined by N17.574 billion week on week at the time other lenders experienced market re-rating. FCMB lost N19.802 billion out of its opening market value due to selloffs.
Ecobank gained N19.267 billion in the course of the week, but the amount was not significant enough to upturn negative price movement in FCMB and Fidelity Bank. # Market Value of All Nigerian Listed Banks Rises to N15.65trn Exchange Rates Gap Collapses as Naira Falls to N1,533
