The list of Nigerian most valuable bank for 2022 has been revealed with Guaranty Trust Bank and Zenith bank leading the list The value of the banks were calculated using how much was added to their total share price.
Nigerian banking sector stocks remains one of the most traded on the Nigerian Exchange and determines how the general market performed.
Zenith Bank has been reported to be the most valuable commercial bank listed on the Nigerian Exchange (NGX) for 2022 followed by Guaranty Trust holdings and First Bank holdings. It led the table as its market value increased to N789.6 billion followed by GT Holdings, and FBN Holdings, N765.2 billion, and N409.2 billion respectively as at Friday, December 31, 2021. The sector, NGX banking index recorded a 3.32% gain in 2021, failing to live up to the 10.14% growth recorded in the previous year, Nairametrics reports.
Others on the list include Access Bank with N330.6 billion, UBA (N275.3 billion), Union Bank (N171.8 billion), and Fidelity Bank (N73.9 billion).
Sterling Bank was the biggest loser in terms of market capitalization. First Bank in 2021 overtook the likes of Access Bank and UBA to stand in 3rd position after gaining 59.4% in share value to close at N11.4 per share from N7.15 recorded as of the end of the previous year.
The market value of First Bank gained N152.6 billion in 2021 to close at N409.2 billion for the year. Sterling Bank on its part was the big loser in the review year in terms of percentage, as its share price dipped by 26% to close at N43.5 billion, while GTCo lost N186.9 billion from N952.1 billion recorded as of the previous year, making the newly restructured entity the biggest loser in terms of value.
