Prime Business AfricaAt the end of the first quarter (Q1) of 2025, the market valuation of Nigerian banks appreciated by 6.24 percent, according to analysis by Prime Business Africa.
The publication gathered that the market valuation increased to N11.22 trillion from N10.56 trillion between January and March.
Join our WhatsApp ChannelGuaranty Trust Holding Company (GTCO), Wema Bank and Fidelity Bank drove the increase, being the only financial institutions to record double-digit growth in their shareholders’ investments.
Best-performing bank stocks in Q1
GTCO
Investors were bullish on GTCO’s stock as the company’s shareholders closed the period in review with 20.70 percent growth in their investment, making GTCO the best-performing stock in the banking sector.
Consequently, the lender’s shareholders recorded a combined gain of N402.81 billion, as the double-digit growth pushed GTCO’s share price from N57 on January 2 to N68.80 kobo on March 28.
Furthermore, GTCO’s market valuation rose from N1.94 trillion to N2.34 trillion, enabling the company to retain its presence in the trillionaire club of the Nigerian stock market.
Wema Bank
Wema Bank was the second-best-performing bank stock in the first quarter after its shareholders saw their investment rise by 17.58 percent within three months of trading.
The increase handed shareholders a combined gain of N34.28 billion and lifted Wema Bank’s market valuation from N195.01 billion at the beginning of January to N229.30 billion at the end of March.
This was driven by the increase in investor confidence, which marginally increased the cost of Wema Bank’s shares from N9.10 kobo per share to N10.70 kobo.
Fidelity Bank
Fidelity Bank occupied the third position out of the 14 banks listed in the Nigerian Exchange Limited (NGX) with an 11.76 percent increase in shareholders’ investment.
Analysis showed that within the period under review, Fidelity Bank was one of the most sought-after stocks, resulting in the company’s share price rising from N17 to N19
This added N100.42 billion to Fidelity Bank’s market valuation within three months, raising it closer to a trillionaire stock, as the valuation moved from N853.60 billion to N954.03 billion.
NPF Microfinance Bank
NPF Microfinance Bank rub shoulders with tier-one banks as it was ranked fourth on the list of the best-performing stocks in the banking sector after its shareholders recorded 8.57 percent growth in their investment.
The increase in NPF’s shareholders’ investment represents a combined gain of N898.93 million, which was made possible by a jump in its share price.
Prime Business Africa learnt that the value of the shares appreciated slightly from N1.75 kobo per share to N1.90 kobo, leading to the microfinance bank’s market valuation to rise from N10.48 billion to N11.38 billion.
UBA
United Bank for Africa (UBA) completed the top five list following a 7.89 percent increase in the investments held by the company’s shareholders.
Findings showed that this added N92.33 billion to UBA’s market valuation, which moved from N1.16 trillion to N1.26 trillion between January and March.
This was as a result of the company’s shares appreciating by N2.7 kobo within three months, from N34.20 kobo to N36.90 kobo.
