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    Wednesday, May 27
    Analysis

    Nigeria’s 5 Big Banks Market Value Shrinks to N11.7 Trillion

    First Holdco Loss Wipes Off Others Gain
    Julius AlagbeBy Updated:No Comments2 Mins Read
    Nigeria's 5 Big Banks Market Value Shrinks to N11.7 Trillion

    Nigeria’s 5 Big Banks Market Value Shrinks to N11.7 Trillion

    The combined market value of all top-tier banks declined to N11.7 trillion as investors dumped First Holdco amidst a significant earnings drop.

    Trading data from the Nigerian Exchange (NGX) indicated that all tier 1 banks closed the week on a positive note, except for a massive selloff in First Holdco.

    Femi Otedola-led top Nigerian banks lost about N178 billion of its market value amidst 93% decline in profitability in 2025. The loss wiped off the combined gain seen in GTCO, Zenith Bank, UBA, and Access Plc.

    Hence, the Tier-1 banks’ aggregate market value dropped N112.716 billion week on week amidst earnings release. GTCO listed new shares, which pushed the market value of the orange-branded financial services company to N3.618 trillion, based on its trading update on the Nigerian Exchange.

    Zenith Bank Plc tracked higher with about N18.5 billion gain over the last five trading sessions in the local bourse, with market value settling at N2.934 trillion.

    First Holdco Plc lost its market weight as the group became less profitable following bad loans that knocked down its earnings performance. The Marina-based elephant-branded financial services group’s market value tanked by N117.814 billion to N2 trillion.

    UBA Plc closed a stronger week on week with about N18 billion weekly surge in market value. The Pan-African lender with significant upside potential to its 52-week high was valued at N1.957 trillion in the local bourse at the close of the trading session on Friday.

    Access Plc, the largest lender with expansive assets across key African markets, surged by N10.663 billion week on week to close at N1.204 trillion, according to data obtained from the stock market.

    The market movers are expected to start releasing their respective earnings performance scorecards to the market after First Holdco shows the regulator what’s possible with early release. After Spot Rates Hike, DMO Reopens 7, 10-Year Bonds for Sale

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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