Prime Business Africa
In the third quarter (Q3) of 2025, the 11 banks trading on the Nigerian Exchange (NGX) Limited recorded growth, according to Prime Business Africa’s (PBA) analysis.
The banks are Sterling Financial Holdings Company, Stanbic IBTC Holdings, Zenith Bank Plc, United Bank for Africa (UBA), First HoldCo Plc, Guaranty Trust Holding Company (GTCO), Ecobank Transnational Inc, FCMB Group Plc, Wema Bank, Access Holdings, and Fidelity Bank Plc
Join our WhatsApp ChannelOut of the 11 banks, 10 handed their shareholders double-digit gains in their investments, while one (Fidelity Bank) recorded a single-digit increase during the period under review.
Also, the combined market capitalisation of the banks increased by 18.83 percent or N2.48 trillion, from N13.21 trillion on July 1 to N15.70 trillion on September 30.
FIVE BEST-PERFORMING BANK STOCKS
Sterling Financial Holdings Company
Sterling Financial Holdings Company closed the third quarter (Q3) of 2025 as the best-performing bank stock in the NGX after shareholders saw a 34.51 percent increase in their investment during the period.
- The stock market data showed the company’s share price had increased by N1.95 kobo, from N5.65 kobo on July 1 to N7.60 kobo on September 30, indicating high demand for Sterling’s shares.
- According to the analysis of Prime Business Africa, the appreciation resulted in a combined gain of N101.62 billion for Sterling Financial shareholders and also raised the market capitalisation of the financial institution.
Stanbic IBTC Holdings
Stanbic IBTC’s share appreciated in value by N24 in the third quarter, as the price increased to N109 at the end of the period, indicating that the asset became more expensive than it was (N85) at the start of July.
- Following the bullish run, shareholders of Stanbic IBTC recorded a 28.23 percent jump in their investment value — representing a N381.64 billion combined gain for the equity holders — making the lender the second most sought-after bank stock.
- This also increased the market valuation of Stanbic IBTC during the period under review, as it closed September with N1,73 trillion, compared to the N1.35 trillion the company was valued at the start of July.
Zenith Bank
With a gain of 23.10 percent, Zenith Bank’s share was the third-best-performing stock in the banking sector, as equity traders priced the share at N69 on July 1, compared to the N69 it traded on September 30.
- The N12.95 kobo increase in the financial institution’s share price handed shareholders N531.85 billion within the three months under review, according to PBA analysis.
- Aside from the gain recorded by Zenith Bank’s shareholders, the lender also saw an increase in its market capitalisation, which rose from N2.30 trillion to N2.83 trillion.
United Bank for Africa
United Bank for Africa took the fourth spot on the list of the best-performing bank stocks in Q3 after shareholders of the company recorded a 21.69 percent appreciation in their investments.
- The gain was driven by the sharp rise in UBA’s share price, which surged from N35.50 kobo on July 1 to N43.20 kobo on September 30, reflecting traders were willing to pay N7.7 kobo more at the end of the period.
- Consequently, UBA shareholders profited N316 billion from the bullish sentiments, and the company’s value in the stock market also shot up from N1.45 trillion to N1.77 trillion.
First HoldCo Plc
First HoldCo Plc occupied the fifth position on the list, as over 20.92 percent gain was recorded by its shareholders during the period under review.
- Analysis showed that the gain trailed the increase in the company’s share price, which soared to N31.50 kobo per share at the end of Q3, from N26.05 on July 1, indicating an increase of N5.45 kobo.
- Additionally, First HoldCo’s shareholders closed the third quarter with a N228.23 billion gain, while the financial institution ended the period with N1.31 trillion market valuation, surpassing what it commenced Q3 with.
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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.
