GTBank, Zenith, Others Lead Biggest Banks by Market Capitalisation in Nigeria, Full List Emerges
- Based on information gathered from the Nigerian exchange, eleven Nigerian banks have a total market capitalization of N7.90 trillion
- According to Prices for securities traded on Monday, January 13, GTCO is the biggest bank in Nigeria with a market valuation of N1.71 trillion
- Second place goes to Guaranty Trust Holding Company PLC, which has a market valuation of N1.47 trillion
Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.
According to recent data, the combined market capitalisation of eleven Nigerian banks stands at N7.90 trillion.
Source: Getty Images
The data, collated from the Nigerian exchange, was released on Monday, January 13, 2025.
GTCO - N1.71 trillion
With a market capitalisation of N1.71 trillion, Guaranty Trust Holding Company PLC ranks first. Its share value, priced at N58.00, reflects a 0.09% decline.
Zenith Bank - N1.47 trillion
Based on securities prices traded on Monday, Zenith Bank PLC is the second largest bank in Nigeria. With a market valuation of N1.47 trillion, the bank's shares are priced at N46.85, reflecting a 1.85% growth rate.
UBA - N1.16 trillion
United Bank for Africa PLC's market capitalization is N1.16 trillion. The price of its shares has dropped by 0.58% to N34.00.
FBN Holdings - N1.02 trillion
The market capitalization of FBN Holdings PLC is N1.02 trillion, and the share price is N28.50, indicating a 5.63 percent decrease.
Access Holdings - N869.08 billion
With a market valuation of N869.08 billion and shares trading at N24.45, Access Holdings PLC has seen a 0.20 percent fall.
Fidelity Bank - N560.21 billion
Fidelity Bank PLC's shares are valued at N17.50, and the company is worth N560.21 billion. The bank's stock declined 0.29%.
Ecobank - N557.83 billion
The market value of Ecobank Transnational Incorporated is N557.83 billion, and the share price is N30.40.
Wema Bank - N235.73 billion
Wema Bank PLC completes the list with shares valued at N11.00 and a market capitalization of N235.73 billion.
Sterling - N166.98 billion
With a market valuation of N166.98 billion and shares trading at N5.80, Sterling Financial Holdings PLC has experienced a modest 0.52 percent increase, indicating healthy growth.
Jaiz Bank - N131.54 billion
The market value of Jaiz Bank PLC is N131.54 billion, and the share price is N2.95. It has demonstrated a 1.72% improvement.
Unity Bank - N17.65 billion
The market value of Unity Bank PLC is N17.65 billion, and the share price is N1.51.
Meanwhile, according to the PUNCH, eight Nigerian banks ended December 2024 with a combined market capitalization of N7.20 trillion. This is a gain of N109.10 billion over the N7.09 trillion recorded on December 23.
Dangote cement becomes biggest company in Nigeria
Legit.ng earlier reported that Dangote Cement Plc has surpassed Airtel Africa Plc and eleven other trillionaire companies to become the most capitalised listed stock on the Nigerian Exchange Limited (NGX).
Due to investor demand, the company's market capitalisation reached N8.16 trillion in November 2024. It is currently ahead of Airtel Africa, at N8.11 trillion, BUA Foods, at N7.11 trillion, and MTN Nigeria Communication, at N3.57 trillion.
Due to the aggressive implementation of reforms, such as the elimination of fuel subsidies and the opening of the foreign exchange market, Dangote Cement and other companies have had an upward trajectory since the arrival of the new administration led by President Bola Tinubu.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
Source: Legit.ng
