First HoldCo has overtaken Zenith Bank as the most valuable bank on the Nigerian Exchange (NGX) after its market capitalisation increased to N4.797 trillion at the close of trading on Monday.
TheCable’s analysis of the bank stocks on the NGX showed
that First HoldCo’s market valuation rose slightly above that of Zenith Bank,
which was N4.792 trillion, while Guaranty Trust Holding Company (GTCO) followed
closely with N4.72 trillion.
Together, the three institutions account for 54.6 percent of
the banking sector’s total market value on the exchange.
The combined market valuation of the 11 banks on the bourse
rose to N25.85 trillion, from N25.18 trillion on July 17.
Below is the ranking of the banks by market valuation.
FIRST HOLDCO
First HoldCo edged Zenith Bank to become Nigeria’s most
valuable bank in the stock market after its share price appreciated by 9.95
percent.
The value of a share of First HoldCo increased from N95.95
kobo on July 17 to N105.5 kobo at the close of trade on Monday.
As a result of the N9.55 kobo surge, the company’s market
capitalisation climbed to N4.797 trillion, up by N434.28 billion, from Friday’s
N4.36 trillion.
ZENITH BANK
Zenith Bank took the second spot with a N4.792 trillion
market valuation, after its share price jumped 2.36 percent during trading
hours.
The bank’s share price closed at N116.70 kobo per share, up
by N2.70 kobo when compared to the N114 offered for a share on Friday.
Following the increase in share price, Zenith Bank’s
valuation grew by N110.88 billion, from N4.68 trillion.
GTCO
GTCO ranked third with a market capitalisation of N4.71
trillion, below the N4.72 trillion recorded at the close of trading on Friday.
The N7,31 billion decline was as a result of the lender’s
share price dropping by N0.2 kobo, from N129.2 kobo on July 17 to N129 on July
20.
STANBIC IBTC
Stanbic IBTC Holdings occupied fourth position with a market
capitalisation of N2.65 trillion, the same valuation held on Friday.
There were no changes in the company’s capitalisation due to
Stanbic IBTC’s share trading flat on Monday, as traders retained Friday’s price
of N166.9 kobo.
UBA
United Bank for Africa (UBA) ranked fifth with a market
capitalisation of N2.13 trillion.
The market capitalisation increased by N128.16 billion, from
the previous week’s closing value of N2.01 trillion, following a N2.90 kobo
increase in the lender’s share price.
According to the NGX data, UBA’s share price soared from
N45.50 kobo to N48.40 kobo, representing a 6.37 percent increase.
ECOBANK
Ecobank Transnational Incorporated (ETI) posted a market
capitalisation of N1.55 trillion, placing it sixth.
The company also recorded no changes in its valuation after
the share traded flat at N85.70 kobo per share on Monday, similar to the
previous week’s closing price.
ACCESS HOLDINGS
With a N1.38 trillion market capitalisation, Access Holdings
rose from the eighth position to the seventh spot on the list of the most
valuable banks on NGX.
Analysis showed that Access Holdings’ valuation surged by
N27.18 billion during trading, from N1.35 trillion recorded on Friday.
The company’s share price rising by N0.5 kobo, from N25 to
N25.5 kobo, led to the surge in the market capitalisation.
FIDELITY BANK
Fidelity Bank dropped to the eighth spot after a N3.15
billion decrease in its market value during trading on Monday.
The financial institution’s market capitalisation declined
to N1.37 trillion, from N1.38 trillion, according to analysis.
This was driven by a N0.05 decline in Fidelity Bank’s share
price, after it closed trading at N21.8 kobo on Monday, below Friday’s N21.85
kobo.
WEMA BANK
Wema Bank’s sustained share price appreciation pushed its
market capitalisation to N1.23 trillion, from the previous week’s N1.22
trillion.
The valuation increased by N18.05 billion after Wema Bank’s
share price soared by N0.45 kobo or 1.47 percent on Monday.
NGX data showed that Wema Bank’s share price closed at N30.9
kobo per share, exceeding the N30.45 kobo reported on July 17.
This makes Wema Bank the ninth most valuable bank on the
NGX.
FCMB
FCMB Group occupied the 10th position with N778.26 billion
market capitalisation on Monday.
It was gathered that FCMB’s capitalisation increased by
N65.95 billion from the previous week’s closing value of N712.30 billion.
This was on the back of a N1 increase in Wema Bank’s share
price, which grew from N10.8 kobo to N11.8 kobo.
STERLING FINANCIAL HOLDINGS COMPANY
At the close of trading on Monday, Sterling Financial
Holdings Company was the 11th most valued bank on the NGX.
The company’s market valuation had closed at N530.73
billion, slightly above the N527.43 billion recorded on July 17.
The N3.29 billion growth followed a 0.62 percent increase in
Sterling Financial’s share price, as it rose from N8 to N8.05 during the
reviewed period.
culled: The Cable
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