Zenith, GTBank, 5 others among most valuable banks in Nigeria

GTBank remains Nigeria’s most valuable bank by market with its most recent market valuation at N820.26bn, leading other banks in the country, according to their market valuation at the Nigerian Stock Exchange based on end of day prices as of the 28th of June 2021.

Zenith Bank followed closely with a market value of N747.24bn. The Ebenezer Onyeagwu-led bank is Nigeria’s most profitable bank, known for having one of the best Corporate Governance Financial Services in Africa.

The bank’s most recent result in spite of headwinds shows it is well-positioned for more upsides as the Tier 1 bank posted a first quarter Profit Before Tax up 4 percent year to year to N61 billion on the back of a 5 percent y/y growth in pre-provision profits.

Stanbic IBTC surprising trails third with a market value of about N518.93bn Investors are weighing positively on the third most valuable bank as recent macros reveal GCR Ratings (“GCR”) had recently upgraded the national scale long term rating assigned to Stanbic IBTC Bank Plc to AA+(NG) from AA(NG) and affirmed the national scale short term rating at A1+(NG), with a Stable Outlook.

Access Bank known for its aggressive expansion drive is the fourth most valuable bank in the Nigerian Stock market with a market value pegged at N298.58 billion.