Zenith Bank, GTBank Leads Market Capitalisation In Nigeria

Zenith Bank and Guaranty Trust Bank retained their places on the list of Nigeria’s most valued banks for the first month of 2022.

Naija News reported last month that Zenith Bank began 2022 as Nigeria’s most valuable commercial bank, with the total worth of all Nigerian banks closing at N194.5 billion. Guaranty Trust Bank is the second most valuable bank, followed by Stanbic IBTC Holdings to round out the top three most valuable banks.

The banks are ranked using data compiled by Nairametrics from the Nigerian Exchange Group (NGX).

The banks’ value was determined by the amount increased to their total share price as of Friday, December 31, 2021.

Access Bank (N330.6 billion), UBA (N275.3 billion), Union Bank (N171.8 billion), and Fidelity Bank are also on the list (N73.9 billion).

Nigerian banking sector stocks continue to be among the most actively traded on the Nigerian Exchange, influencing the performance of the broader market.

Top banks in terms of market capitalization

Zenith Bank retained the top spot with a market capitalization of N817.9 billion, followed by GT Bank at N791.7 billion. Stanbic IBTC is ranked third, with a market capitalization of N463.2 billion as of the end of January 2022, and First Bank is ranked fourth with a market capitalization of N412.8 billion.

Banks with declined value

On the other hand, Unity Bank has the smallest market value at N5.96 billion, down N351 million from the previous month. Jaiz Bank was next, valued at N23.5 billion, with an N4.1 billion gain expected in January 2022.

Access Bank is valued at N351.9 billion, UBA at N294.1 billion, Union Bank at N174.7 billion, Fidelity Bank at N81.4 billion, FCMB at N61.9 billion, Sterling Bank at N49.8 billion, and Wema Bank at N33.9 billion.