GT Bank Leads as Nigeria’s Five Biggest Banks Stocks Increase Investors Wealth by Over N150bn in five days
- Nigeria’s five biggest banks, First Bank, United Bank for Africa (UBA) Plc, Guaranty Trust Holding Company, Access Bank, and Zenith Bank ended the week on a high
- The money made by the five Nigerian banks was actualized after their stocks increased significantly following strong 9-month results
- The five banks, popularly known as the FUGAZ, are the most capitalized lenders in the financial sector
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Investors in five Nigerian banks smiled home last week(Monday 6 December to 10 December) after the value of stocks investment in First Bank, United Bank for Africa (UBA) Plc, Guaranty Trust Holding Company, Access Bank, and Zenith Bank rose by over N151 billion.
According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks grew to N2.61 trillion in the week ended Friday, 10 December.
Shareholders of GTCO made the biggest amount during the period to set a perfect tone for Christmas holidays.
Source: Getty Images
Breakdown of what was made by the five banks
First Bank’s shareholders smiled home with N7.17 billion after the bank’s stock price appreciated by 1.70 percent, lifting its market value to N427.15 billion from N419.97 billion.
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The appreciation followed comes as investors exchanged over 1,198,702,662 units of the bank’s shares valued at N13.69 billion.
UBA
Shareholders of the United Bank for Africa Plc shared N18.80 billion as the bank’s market capitalization rose from N256.49 billion to N275.30 billion during the week.
Data from NGX shows the bank traded a total of 69,161,946 units valued at N534.98 million during the week under review.
Zenith
Zenith Bank’s shareholders earned N62.79 billion.
A total of 65,415,660 units of the bank’s shares were traded during the week.
Access
For Access Bank’s investors made N15.99 billion. The bank’s total investment in the capital market rose from N309.24 billion to N325.23 billion at the end of the trading week.
A total of 131,802,090 units of the bank’s shares valued at N1.20 billion exchanged hands in five days.
GT
GTCO shareholders pocketed N75.04 billion as stakeholders’ total investment rose from N704.87 billion to N779.92 billion in five days.
This is the biggest amount recorded among the five banks.
During the trading week, Investors traded a total of 100,006,386 units of the bank’s shares, valued at N2.42 billion.
I was halfway to becoming a billionaire-then I lost everything
Meanwhile Legit.ng reported how a trader has shared how he reached halfway to becoming a billionaire investing in cryptocurrency - but only for five minutes.
He said he lost everything when the coin crashed and his account was left with $0 before he could do anything.
He also stated that he cannot reveal himself for fear of being mocked because he was cautioned against investing in squid currency.
Source: Legit.ng
