‘Outstanding’ Zenith, Gtbank top list of Nigeria’s most valuable banks in January

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Zenith Bank is starting 2022 as the most valuable commercial banks in Nigeria as the total value of Nigerian bank closed at N194.5 billion.

In second most valuable bank is Guaranty Trust Bank followed by Stanbic IBTC Holdings to complete the top three most valuable banks.

The ranking of the banks is according to data from Nigerian Exchange Group (NGX) monitored by Freelanews.

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).

Top banks by market value

Zenith Bank maintained its number one position with a market value of N817.9 billion, followed by GT Bank with a market capitalization of N791.7 billion.

Stanbic IBTC is placed third, with a valuation of N463.2 billion as of the end of January 2022, while First Bank has a valuation of N412.8 billion.

Banks that suffered decline in Value

Unity Bank, on the other hand, has the lowest market capitalization with N5.96 billion, a N351 million decrease from the previous month.

Jaiz Bank was next, with a valuation of N23.5 billion, although with an N4.1 billion gain in January 2022.

Access Bank has a valuation of N351.9 billion, UBA has a valuation of N294.1 billion, Union Bank has a valuation of N174.7 billion, Fidelity Bank has a valuation of N81.4 billion, FCMB has a valuation of N61.9 billion, Sterling Bank has a valuation of N49.8 billion, and Wema Bank has a valuation of N33.9 billion.

Rtn. Victor Ojelabi

Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator and a recipient of the D9112 Superstar Icon Award, who writes ruthlessly about pop culture, religion, politics and entertainment.