Godwin ShaibuAs of the closing of trading on January 8, United Bank for Africa (UBA) saw its share price rise above N29.90, pushing the bank’s market capitalization beyond N1.02 trillion. This achievement positions UBA as the latest addition to the prestigious SWOOT category.
In the Nigerian Stock Exchange (NGX), companies with a market capitalization exceeding N1 trillion are classified as SWOOTs, joining the ranks of esteemed members like MTN Nigeria, Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, GTCO Holdings, Zenith Bank, and Seplat Energy.
It’s noteworthy that on December 6, 2023, FBNH, the parent company of First Bank Limited, also crossed the N1 trillion milestone, albeit retracting the following day. Additionally, Stanbic IBTC achieved the N1 trillion mark in 2023.
Stay tuned for further details on this significant development.
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