Nigeria Top 5 Banks Market Value Rises to N6.2trn
Nigeria’s top five banks that need no introduction have extended their market value due to investors’ position taking in tier-1 stocks. Details gathered by MarketForces Africa showed that the combined market value of the top five banks surged past N6.2 trillion in the local bourse on Friday close.
Meanwhile, it was three out of five top lenders that saw a weekly gain in their respective market valuations on the back of a strong rally, boosted by financial stocks.
Zenith, Access Holdings, and United Bank for Africa Plc posted week price appreciation. GTCO was flattish, but FBN Holdings was down—albeit slightly. Data from the Nigerian Exchange (NGX) showed that the tier-1 lenders combined market value increased by N41.626 billion.
GTCO
GTCO Plc maintained top rank as most valuable among listed financial institutions in the local bourse. Investors put N1.677 trillion as the market value of GTCO at the close of the trading session. Its share price was flattish at N57, trading slightly below its 52-week high.
Due to strong demand for the orange-branded stock, GTCO has breached 52-week highs several times more than its contenders, driving a surge in the banking index. The stock was priced at N58.75 at the peak of its performance in 52 weeks.
Zenith Bank
Zenith Bank Plc ranked second as the most valuable financial services listed in the Nigerian stock market. The Ajose Adeogun-headquartered lender made strategic entrance into Paris amidst a drive to diversify its earnings sources and base.
Trading records showed that investors’ interest in the tier-1 lender pushed its market value to N1.459 trillion in the equities market.
At a unit price of N46.50, Zenith Bank is trading a moderate discount to its 52-week high. The banking stock had peaked at N47.35 earlier, and it is set to breach the resistance again as fourth quarter earnings resume. Zenith gained more than N17 billion to close trading session last week.
UBA Plc
UBA is worth N1.193 trillion in the equities market following increased demand for the Pan African lender shares by value hunters. Data from the Nigerian Exchange showed the financial services warehouse with a strong footprint in the African market has gained weight due to positioning ahead of earnings release.
Buying sentiments were mostly driven by positive earnings expectations. Its share price climbed to N34.90 from N34.55 last week. UBA crossed its old 52-week high priced at N34 to N37.8 due to successive rallies experienced in the latter part of 2024. The stock weight increased by about N12 billion last week.
FBN Holdings
FBNH lost about N5.4 billion to close at N1.003 trillion on Friday on the back of a mild selloff. The top tier-1 lender share price was seen at N27.95 in the local bourse amidst an early rally in financial stocks.
The banking stock price declined slightly during last week’s trading session amidst some internal clean-up by its management to strategically reposition for 2025 operations. FBNH is the top lender whose share is trading at a significant discount to its 52-week high due to profit-taking rout experienced in 2024.
Some stockbrokers said in a chat with MarketForces Africa that there is a lot waiting for FBN Holdings in 2025. But overall, the stock is rated buy due to its upside potential.
ACCESS Holdings
Nigeria’s largest lender, Access Holdings Plc, is the lowest in terms of market valuation. The group was valued at N870.585 billion following a slight increase in share price.
Data showed that Access Bank share price rose to N24.50 on Friday from N24 at the beginning of trading week. Its tiniest rally was supported by its successful recapitalisation ahead of deadline.
According to stockbrokers whisper, there is a need to re-rate Access Plc due to its strong earnings expectation and its strategic acquisition taste, which continue to position the group as a financial gateway to the global market.
Historical data review, however, showed that Access price movement has often moved slower than its peers. It is a slow-moving banking stock, market analysts said. #Nigeria Top 5 Banks Market Value Rises to N6.2trn Ministry Seeks $2 billion Fibre Optics Funding
