Zenith Bank Soars by 10% in Fresh Rally
Zenith Bank Plc.’s market value soared by 10% on Wednesday as investors re-entered positions on the back of an improved sentiment.
The Nigerian market recovered part of the huge losses posted in the past weeks as investors begin to reposition in companies with strong fundamentals.
Banking index soared by more than 7%, fuelled by interest in Tier-1 names including Zenith Bank share which capped maximum daily gain as a result of increased market activities.
Zenith Bank share price surged by 10% to N59.4 as 86.805 units valued at N5.156 billion were consummated, trading data obtained from the Nigerian Exchange showed.
This strong trading volume and value lifted market value of Zenith Bank Plc.’s 41.069 billion shares outstanding climbed to N2.439 trillion.
Analysts expect Zenith Bank to beat 2025 earnings target despite heightened asset quality risks after the Central Bank withdrawal forbearance.
The development triggered higher impairment charges across the industry, coupled with declining FX gain and pressures on net interest margin.
With stable dividend payment records spanning decades and sustained bumper earnings harvests, Zenith Bank often top analysts’ stock recommendation lists. Naira Falls to N1,443 as FX Shortage Lingers
