Prime Business Africa
In the first quarter (Q1) of 2026, the five least performing commercial bank stocks were Fidelity Bank Plc, First HoldCo Plc, FCMB Group, Sterling Financial Holdings Company, and United Bank for Africa (UBA).
Four of the companies recorded single-digit growth in their shareholders’ investments between January 2, 2026, and March 31, 2026, while one closed the first quarter the same way it started trading on the Nigerian Exchange (NGX).
Join our WhatsApp ChannelPrime Business Africa’s (PBA) analysis showed that the five companies recorded a combined market valuation of N6.39 trillion at the end of the first quarter, compared to the N6.14 trillion recorded at the start of the period.
Five Least Performing Bank Stocks In Q1 2026
Fidelity Bank
Prime Business Africa analysis showed that Fidelity Bank had the least performing stock in the banking industry on the NGX, as investments held by the company’s shareholders neither increased nor decreased based on the opening and closing share price in Q1.
- A share of the company was traded at N19 at the start of January, and at the end of March, the share was exchanged at the same price, indicating equity traders were not bullish on Fidelity Bank’s shares in Q1.
- As a result, shareholders who held Fidelity Bank’s shares throughout the first quarter did not close the period with a gain, while the market valuation of the financial institution remained unchanged at N953.8 billion
First HoldCo
In the second spot of the least performing bank stocks is First HoldCo, after the financial institution’s shareholders only saw a 2.45 percent growth in their investment within three months.
- The growth represents a N53.34 billion combined gain for shareholders of First HoldCo, which was as a result of the company’s share price increasing from N48.80 kobo on January 2, to N50 on March 31.
- The N1.2 kobo increase in First HoldCo’s share price did not only raise the shareholders investment, it also led to an increase in the company’s market valuation, which grew from N2.16 trillion to N2.22 trillion.
FCMB Group
Between January and March, the shareholders of FCMB Group recorded a mere 2.60 percent growth in their investments, making the financial institution the third least performing company on the list.
- The marginal growth followed a N0.3 kobo increase in FCMB’s share price, which increased from N11.50 kobo at the start of the period under review to N11.80 kobo at the end of the first quarter.
- Prime Business Africa gathered that the single-digit lifted FCMB’s valuation in the Nigerian stock market from N758.47 billion on January 2 to N778.26 billion on March 31, and handed the shareholders a combined gain of N19.78 billion.
Sterling Financial Holdings Company
Sterling Financial Holdings Company was the fourth least performing bank stock in the first quarter after shareholders’ investment increased by 6.38 percent, representing a combined gain of N23.45 billion for the investors.
- The investment held by Sterling Financial’s shareholders appreciated after the company’s share price jumped from N7.05 to N7.50 kobo during the period under review, representing an increase of N0.45 kobo.
- Analysis showed the increase also impacted Sterling Financial’s market valuation, as the market capitalisation increased from N367.42 billion at the start of January to N390.87 billion at the end of March.
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Prime Business Africa is a business, economy and policy news platform founded in 2021 by veteran journalist and media scholar, Dr Marcel Mbamalu, after he left The Guardian as Editor.
Dr Mbamalu, who serves as Founder and Publisher, set up Prime Business Africa to deliver sharp, data-driven reporting on Nigeria’s markets, trade, investment, and governance trends for decision-makers, entrepreneurs, and policy leaders.
He also writes The Bottom Line, a backpage column for Punch Newspaper every Thursday.
Under his leadership, Prime Business Africa combines deep newsroom experience with a focus on accountability journalism, aiming to bridge information gaps between Africa’s private sector and the global economy.
