Prime Business AfricaIn a remarkable display of financial prowess, two female bank CEOs, Adaora Umeoji of Zenith Bank and Nneka Onyeali-Ikpe of Fidelity Bank, have collectively earned N294.97 million in the stock market over the past three months.
As the only female CEOs with publicly listed shares, Umeoji and Onyeali-Ikpe’s success stories offer a compelling glimpse into the lucrative world of high-stakes finance.
Join our WhatsApp ChannelAccording to findings by Prime Business Africa, Zenith Bank’s Umeoji has 1.71 million indirect shares in Zenith Bank and 90.19 million direct shares as of December 2024, which she increased from 90 million held in 2023.
The value of her direct investment in the financial institution was N4.13 billion on January 2, however, the worth of the direct shares rose to N4.23 billion, which shows Umeoji gained N103.72 million in the first quarter.
Similarly, Umeoji made N1.96 million through her indirect investment in Zenith Bank, which increased from N78.40 million to N80.37 million within three months.
This brings her total gain in the stock market to N105.68 million in three months.
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Umeoji’s investment gain was driven by a 2.50 percent appreciation in Zenith Bank’s share price in the first quarter of this year, as high demand pushed the company’s stock price to N47 on January 2, from N45.85 on March 28.
Also, Fidelity Bank’s Onyeali-Ikpe, who held 94.64 million shares in Fidelity Bank at the end of last year, compared to 69.64 million held in 2023, saw an increase in the value of her investment during the review period.
Analysis showed that Onyeali-Ikpe’s total shares were valued at N1.60 billion at the start of the quarter, however, she gained N189.28 million, which increased her investment value in Fidelity Bank to N1.79 billion at the end of the quarter.
Onyeali-Ikpe was fortunate to have made the gain due to improved investor confidence in her financial institution, as the value of Fidelity Bank’s share increased by 11.76 percent, from N17 to N19, during the reviewed period.
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