Tier-1 Zenith, GTbank And Five Others are Nigeria’s Most Valuable Banks For 2021, Worth Watching
The Oasis Reporters
January 23, 2022
The list of Nigeria’s most valuable banks for 2021 has been shown to be Guaranty Trust Bank and Zenith bank leading the pack.
The value of the banks were calculated using how much was added to their total share price as at Friday, December 31, 2021
Nigerian banking sector stocks remain one of the most traded on the Nigerian Exchange and determine how the general market performed.
Zenith Bank has been reported to be the most valuable commercial bank listed on the Nigerian Exchange(NGX) for 2021, followed by Guaranty Trust Holdings and First Bank Holdings.
Zenith Bank Plc led the table as its market value increased to N789.6 billion by gaining N9.42 billion after its market capitalization appreciated to N810.03 billion from N800.61 billion at the end of the week. This appreciation can be attributed to the 1.18% growth in its share price, from N25.50 traded at the end of last week, to N25.80 at the end of this week.
Hence, a total of 49,071,168 units of the bank’s shares were traded during the week, valued at N1.26 billion.
The bank released its nine-month financial result for the period ended September which revealed that Interest income for the period declined by 3.13% to N308.84 billion from N318.82 billion in the corresponding period of 2020. However, post-tax profit for the period reported a marginal growth of 0.80% from N159.32 billion in 2020 to N160.59 billion in the current period.
They are followed by GT Holdings.
GTCO Plc grew by N17.66 billion after its market capitalization appreciated to N759.32 billion from N741.67 billion at the end of the week’s trading session.
The growth can be attributed to the increase in its share price, from N25.20 traded at the end of last week, to N25.80 as at close of business, reflecting an increase of 2.38%.
During the trading week, Investors traded a total of 78,942,415 units of the bank’s shares, valued at N2.01 billion, making the bank’s stock the most traded in value.
In Q3 2021, the Group reported a decline of 7.48% in interest income from N74.52 billion recorded in the corresponding period of September 2020 to N68.94 billion in the current period. However, post-tax profit appreciated by 4.11% from N48.01 billion in 2020 to N49.99 in the current period.
FBNH’s Plc
FBNH’s share price remained unchanged to close the week at N12.00, with its market capitalization of N430.74 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 N12.00.
During the week, investors traded 133,424,995 units of the Bank’s shares valued at N1.61 billion, making the bank’s stock the most traded in volume.
FBNH Plc’s third-quarter 2021 result showed that Interest Income dropped by 12.63% Y-o-Y to N260.12 billion, from N297.71 billion recorded in the same period of 2020. Similarly, Net interest income declined by 15.45% Y-o-Y to N162.96 billion, against N192.74 billion recorded in the corresponding period of last year. Profit after tax declined significantly by 40.15% Y-o-Y to N40.79 billion during the period under review.
Others on the Tier-1 list include Access Bank with N330.6 billion.
Access Bank Plc’s share price appreciated by 2.63% to close the week at N9.75, and the market capitalization stood at N346.57billion.
At the end of the week, investors had traded a total of 45,573,342 units of the bank’s shares valued at N443.77 million.
Access Bank Plc released its Q3 2021 financial result which revealed a decline in Net interest income by 3.43% to N67.66 billion, while profit after tax dropped by 9.11%, from N38.46 billion in September 2020 to N34.95 billion in September 2021.
UBA (N275.3 billion),
UBA Plc
United Bank for Africa Plc declined by 0.61% as its market capitalization closed the week at N280.44 billion, with its share price standing at N8.20.
UBA Plc traded a total of 41,702,809 units valued at N340.80 million at the end of the trading day.
UBA Plc released its Q3 2021 financials, revealing that net interest income appreciated by 23.25% to N229.27 billion from N186.02 billion, while total assets grew to N8.35 trillion from N7.7 trillion. In addition, the company’s profit after tax rose by 35.61% to N104.60 billion, up from N77.13 billion in the same period of 2020
Union Bank (N171.8 billion),
Union Bank of Nigeria Plc recorded N121. 8 billion gross earnings in the nine months, Q3’21 ended September 30, 2021 representing an upsurge of three per cent as against N118. 8 billion recorded in the corresponding period of 2020 ( Q3’20).30 Oct 2021.
Fidelity Bank Plc Grew its Profits by 31.4% to N28.1billion in Q3 2021 Results with total deposits at N1,973.0 billion by November 2021. Another impressive financial performance for the 3rd Quarter of 2021. Details of the 9-months results for the period ended September 30, 2021, released at the Nigerian Stock Exchange (NGX) showed a double-digit growth in revenues, deposits and profitability.
Gross earnings grew by 12.5 percent to N174.4 billion from N155.0 billion in the same period in 2020 while profit before tax (PBT) soared by 31.4 percent to N28.1 billion from N21.3 billion in 9M 2020.
In other indices, total assets grew by 15.4 percent to N3,182.7 billion from N2,758.1billion in the same period last year. Total deposits: a measure of customer confidence, increased by 16.1 percent YTD to N1,973.0 billion from N1,699.0bn in 2020FY, driven by increased deposit mobilization across all deposits types.
