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 ₦194.5 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 ₦817.9 billion, followed by GT Bank at ₦791.7 billion. Stanbic IBTC is ranked third, with a market capitalization of ₦463.2 billion as of the end of January 2022, and First Bank is ranked fourth with a market capitalization of ₦412.8 billion.

Banks with declined value

On the other hand, Unity Bank has the smallest market value at ₦5.96 billion, down ₦351 million from the previous month. Jaiz Bank was next, valued at ₦23.5 billion, with an ₦4.1 billion gain expected in January 2022.

Access Bank is valued at ₦351.9 billion, UBA at ₦294.1 billion, Union Bank at ₦174.7 billion, Fidelity Bank at ₦81.4 billion, FCMB at ₦61.9 billion, Sterling Bank at ₦49.8 billion, and Wema Bank at ₦33.9 billion.