Prime Business Africa
In 2025, shareholders of 10 commercial banks out of 11 listed on the Nigerian Exchange (NGX), also known as the stock market, recorded a combined gain of N4.81 trillion, according to Prime Business Africa’s analysis.
The companies are Wema Bank, Stanbic IBTC, First HoldCo Plc, Guaranty Trust Holding Company (GTCO), Ecobank Transnational Inc., Zenith Bank Plc, FCMB Group Plc, United Bank for Africa (USA), Sterling Financial Holdings Company, and Fidelity Bank Plc.
Join our WhatsApp ChannelData showed that only Access Holdings failed to grow its shareholders’ investment between January 2, 2025, and December 31, 2025; instead, their investment depreciated by 12.86 percent.
However, based on Prime Business Africa’s analysis, out of the 10 banks, Wema Bank, Stanbic IBTC, First HoldCo, GTCO and Ecobank were the top five on the list of the banks with the highest return on investment.
Five Banks With Highest Return On Investment
Wema Bank
According to stock market data, Prime Business Africa gathered that Wema Bank’s shares were the most sought-after, resulting in the company’s shareholders recording a threefold growth or 124.17 percent increase in their investments.
- This made Wema Bank’s shareholders the biggest gainers among the banks reviewed, thanks to the N11.3 kobo increase in the value of the company’s share, which traded at N20.40 kobo on December 31, 2025, compared to the N9.10 kobo it was traded on January 2, 2025.
- With the stock market traders willing to buy the share N11.3 kobo higher, Wema Bank’s market valuation also skyrocketed from N365.08 billion recorded at the start of the first quarter of last year to N818.42 billion at the end of the fourth quarter (Q4) of 2025.
Stanbic IBTC
During the period under review, Stanbic IBTC’s shareholders saw their investments appreciate by 72.41 percent, representing a N667.87 billion combined gain between January and December of last year.
- This made Stanbic IBTC the second-best-performing lender as the financial institution’s share price surged from N58 on January 2, 2025, to N100 on December 31, 2025, indicating a N42 increase.
- Consequently, Stanbic IBTC’s market valuation in the Nigerian bourse also increased, rising from N922.30 billion as of Q1 2025 to N1.59 trillion at the end of Q4 last year, according to analysis.
First HoldCo Plc
First HoldCo was ranked third on the list as shareholders’ investments appreciated by 69.85 percent after bullish sentiments around the company’s shares raised the price by N19.7 kobo within 12 months.
- Prime Business Africa gathered that the financial institution had started the first quarter with N28.20 kobo per share, but closed the fourth quarter with N47.90 kobo.
- The increase in share price handed shareholders of First HoldCo a combined gain of N875.73 billion, and raised the company’s market valuation from N1.25 trillion recorded on January 2, 2025, to N2.12 trillion on December 31, 2025.
GTCO
Analysis showed that Guaranty Trust Holding Company’s shareholders recorded 59.12 percent growth in their investments during the period under review, making the company the fourth best-performing lender.
- The gain also represents a combined gain of N1.22 trillion for the shareholders and raised GTCO’s market valuation from N2.07 trillion at the start of the first quarter to N3.30 trillion at the end of the fourth quarter.
- Prime Business Africa gathered that this was driven by the N33.7 kobo increase recorded in GTCO’s share price, which increased from N57 per share to N90.70 kobo during the reviewed period.
Ecobank
The fifth spot was occupied by Ecobank, as a 49.64 percent increase was recorded in the investments of the company’s shareholders between the first quarter and the fourth quarter of last year.
- During the period, the company’s share price had increased by N13.9 kobo, from N28 per share to N41.90 kobo, leading to the investment growth recorded by the shareholders.
- Furthermore, the appreciation in the share price lifted Ecobank’s market valuation from N664,47 billion on January 2, 2025, to N994,33 billion on December 31, 2025, resulting in a combined gain of N329,86 billion within the same period.
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