Zenith, GTCO, Stanbic IBTC Retain Top Positions As Most Valuable Banks in January

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Zenith Bank, GTCO and Stanbic IBTC Holdings retained the top spot for most valuable commercial banks in Nigeria by market capilization as of the end of January 2022. It was revealed that the market capitalization for the thirteen listed Nigerian banks increased by N194.5 billion in the month in review.
This data was collected by Nairalytics, the research arm of Nairametrics from the Nigerian capital market.


The study also showed that the market capitalization of the banking sector rose from N6.35 trillion recorded at the end of 2021 to close at N6.73 trillion in January 2022, indicating a 3.1% month-on-month increase. Similarly, the banking index gained 8.7% to close at 441.4 index points in the review month.
The study equally revealed that Zenith Bank gained the highest capitalisation in the review month, recording a N28.3 billion in its market capitalization, while Wema Bank recorded the highest boost in terms of percentage relative to the previous month.


Zenith Bank equally maintained the top spot with a market valuation of N817.9 billion, closely followed by GT Bank with a market cap of N791.7 billion. Stanbic IBTC with N463.2 billion valuation stands in third place, while First Bank’s valuation stood at N412.8 billion as of the end of January 2022.


From the lower end of the league, Unity Bank has the lowest market capitalization with N5.96 billion, following a N351 million decline compared to the previous month. Jaiz Bank also followed with a valuation of N23.5 billion, albeit a N4.1 billion gain in the month of January 2022.Others on the list include Access Bank with N351.9 billion, UBA (N294.1 billion), Union Bank (N174.7 billion), Fidelity Bank (N81.4 billion), FCMB (N61.9 billion), Sterling Bank (N49.8 billion), and Wema Bank with valuation at N33.9 billion.


Zenith Bank also led the list of most improved banks in terms of monetary value with a gain of N28.3 billion, owing to the 3.58% increase in its share price to close the month at N26.05 per share. GT Bank followed with a market appreciation of N26.49 billion as its share price rallied by 3.46% in the month under review.Access Bank recorded a gain of N21.3 billion, while UBA rallied by N18.8 billion to close at N294.1 billion in January 2022.


The market valuation of  Wema Bank grew by 22.2% in the month under review, representing the most improved bank in terms of percentage relative to the previous month, followed by Jaiz Bank, which gained 21.4% and Sterling Bank with a gain of 14.6% in the month under review.

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