The market capitalisation of the top five banks, referred to as the Tier-1 banks or FUGAZ, appreciated by 1.34 percent to close at N2.72 trillion as at the close of trading on the 25th of February, 2022, as investors in these banks gained a total of N35.83 billion during the trading week.
After 5 trading days of the week, 4 of the 5 tier-1 Nigerian banks enjoyed positive market sentiments, with Guaranty Trust Holding Co Plc leading the gainers.
According to data from the Nigerian Exchange (NGX), the market capitalisation of the top five banks grew to N2.72 trillion, appreciating by 1.34 percent during the week.
FBNH’s share price grew by 1.32 percent to close the week at N11.55, with its market capitalization at N414.59 billion at the end of the week. Amid sell-offs and buy-interests, at the end of the trading week, FBNH share price stood at N11.55.
United Bank for Africa Plc appreciated by 1.8 percent as its market capitalization closed the week at N297.53 billion, with its share price standing at N8.70.
GTCO Plc appreciated by N20.60 billion after its market capitalization grew to N791.70 billion from N771.10 billion at the end of the week’s trading session.
The growth can be attributed to the increase in its share price, from N26.20 traded at the end of last week, to N26.90 as at close of business, reflecting an increase of 2.67 percent.
Access Bank Plc’s share price remained unchanged to close the week at N10.35, and the market capitalization stood at N367.89 billion.
Access Bank Plc released its Q3 2021 financial result which revealed a decline in Net interest income by 3.43 percent to N67.66 billion, while profit after tax dropped by 9.11 percent, from N38.46 billion in September 2020 to N34.95 billion in September 2021.
Zenith Bank Plc gained N4.71 billion w-o-w after its market capitalization appreciated to N846.14 billion from N841.43 billion at the end of the week. This appreciation can be attributed to the 0.56 percent growth in its share price, from N26.80 traded at the end of last week, to N26.95 at the end of this week.
