First HoldCo becomes Nigeria’s most valuable listed bank, overtakes Zenith on NGX

First HoldCo has emerged as the most valuable banking stock on the Nigerian Exchange (NGX), displacing Zenith Bank after a strong rally in its share price pushed its market capitalisation to N4.797 trillion at the close of trading on Monday.

The latest NGX trading data showed that First HoldCo narrowly edged past Zenith Bank, whose market value stood at N4.792 trillion, while Guaranty Trust Holding Company (GTCO) retained third place with a market capitalization of approximately N4.71 trillion.

Together, First HoldCo, Zenith Bank and GTCO account for 54.6 per cent of the total market capitalisation of Nigeria’s listed banking sector, underlining their dominance in the industry.

Investor demand for banking stocks also lifted the combined market capitalisation of the 11 listed banks on the NGX to N25.85 trillion, up from N25.18 trillion recorded on July 17, reflecting renewed confidence in the sector.

First HoldCo’s rise to the top was driven by a remarkable 9.95 per cent gain in its share price during Monday’s trading session. The stock appreciated from N95.95 to N105.50 per share, adding N9.55 in value.

The rally increased the company’s market capitalisation by approximately N434.28 billion, from N4.36 trillion to N4.797 trillion, making it Nigeria’s most valuable listed banking institution.

Zenith Bank Slips Despite Positive Performance

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Zenith Bank dropped to second position even though it also posted gains during the trading session. Its share price rose by 2.36 per cent, climbing from N114.00 to N116.70 per share.

The increase added about N110.88 billion to the bank’s market value, raising its capitalisation to N4.792 trillion. However, the gain was insufficient to keep pace with First HoldCo’s stronger rally.

GTCO Retains Third Position

GTCO maintained its position as the third most valuable banking stock on the exchange despite recording a slight decline in valuation.

Its market capitalisation eased by N7.31 billion to N4.71 trillion after its share price dipped marginally from N129.20 to N129.00.

Stanbic IBTC Holds Fourth Spot

Stanbic IBTC Holdings retained fourth place with a market capitalisation of N2.65 trillion, as its share price remained unchanged at N166.90.

UBA Records Strong Gains

United Bank for Africa (UBA) ranked among the session’s top performers after its market capitalization increased from N2.01 trillion to N2.13 trillion.

The bank added N128.16 billion in market value as its share price advanced 6.37 per cent, rising from N45.50 to N48.40 per share.

Access Holdings Overtakes Fidelity Bank

Access Holdings moved ahead of Fidelity Bank to claim seventh position among listed lenders after its market capitalisation rose to N1.38 trillion.

The company gained N27.18 billion in value as its share price increased from N25.00 to N25.50.

Fidelity Bank slipped to eighth position after its market capitalization edged lower to N1.37 trillion, following a slight decline in its share price from N21.85 to N21.80.

Ecobank Transnational Incorporated (ETI) maintained its market capitalisation at N1.55 trillion, with its share price closing unchanged at N85.70.

Wema Bank extended its upward momentum as its market capitalisation climbed to N1.23 trillion, supported by a 1.47 per cent increase in its share price from N30.45 to N30.90.

FCMB Group recorded one of the strongest gains of the day, with its market value rising by N65.95 billion to N778.26 billion after its share price advanced from N10.80 to N11.80.

Sterling Financial Holdings Company remained the least-valued among the 11 listed banks but also recorded a modest increase in market capitalisation to N530.73 billion as its share price edged up from N8.00 to N8.05.

The latest trading session highlights sustained investor confidence in Nigeria’s banking sector, with strong buying interest, ongoing recapitalisation efforts and improving earnings outlook continuing to drive the performance of banking stocks on the Nigerian Exchange.