First Bank, GTB, Three Other Leading Nigerian Banks Pocket Over N207 Billion in One Month
- Nigerian bank shareholders have a lot to smile about in the month of November as the value of their shares increased
- First Bank of Nigeria, Guaranty Trust Bank Plc shareholders were the biggest gainers as the big five shared N207 billion
- What the banks made was calculated using changes in market share and capitalization at the beginning and end of the month
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November was an exceptional month for the Nigerian banks listed on the Nigerian Exchange.
The banking index, which tracks the market movement of all listed banks, climbed by 5.79 percent.
As a consequence of the index's gain, Zenith Bank, Guaranty Trust Holding Company (GTCO), Access Holdings, United Bank for Africa (UBA), and First Bank Holding Company of Nigeria shareholders all made a combined N207 billion in one month.
Source: Getty Images
Breakdown of the banks' performance
FBN Holdings Plc- N48.4bn
FBN Holdings Plc recorded the highest gain during the month as its stocks increased in value by 13.7% from N9.85 per share to N11.20 per share.
This helped the bank's market capitalization to gain N48.459 billion or 13.7% to close at N402.027 billion in market capitalization on November 30, 2022, from the opening figure of N353.568 billion.
Market capitalization refers to the total value of all a company's shares of stock.
GTCO Holdings Plc- N70.63bn
GTCO Holdings Plc had a nice month as well, with shareholders sharing N70.63 billion.
This occurred when the share price of the banks' stocks increased by 13.64% throughout the month, from N17.60 to N20.00.
The bank's market value finished at N588.623 billion at the end of November 2022, up from N517.988 billion at the start of the month's trading.
Zenith Bank Plc- N59.65bn
Zenith bank stock gained 9.5% in share price during the month, rising from N20.00 to N21.90 per share.
The bank's outstanding performance earned shareholders N59.654 billion during the month, increasing the company's market value to N687.583 billion at the close of trading on November 30, 2022, from N627.929 billion at the start of trading on November 1.
United Bank for Africa (UBA) Plc- N3.42bn
The share of UBA Plc gained 7.25% in share price during the month, rising from N7.15 to N7.25 per share.
The company enjoyed considerable buy-interests which drove up the market capitalization to gain N3.420 billion to stand at N247.945 billion at the close of trading on November 30, 2022, from the opening figure of N244.525 billion at the beginning of trading on November 1.
Access Holdings Plc- N24.88bn
Access Holdings Plc stock gained 8.97% in price during the month, from N7.80 to N8.50.
This helped the bank's market capitalization to earn N24.882 billion to close at N302.134 billion at the close of trading on November 30, 2022, from the opening figure of N277.252 billion at the beginning of trading.
List of unapproved phones in Nigerian markets that citizens should avoid
Recall that the Nigerian Communications Commission (NCC) has cautioned consumers against the patronage and use of devices that have not been approved.
The commission also announced tough sanctions on marketers selling counterfeit devices to Nigerians.
NCC disclosed this in a statement after its team arrested one Yahaya Ado of Gezawa Communications Limited for selling counterfeit Gionee devices.
Source: Legit.ng
