Market Capitalization is one of the indices to measure
how strong a commercial bank is. Other measures of strength of a bank are its
assets value, depositors` funds, among other things.
Here we have compiled the list of 10 most valued
commercial banks in Nigeria as at end of January 2022. Market capitalization of
13 listed Nigerian banks increased by N194.5 billion in January 2022 where
Zenith Bank, Guarantee Trust Bank and Stanbic IBTC Holdings maintained their
top positions.
The banking sector market capitalization increased
to N6.73 trillion January 2022 from N6.35 trillion recorded at the end of 2021 which
shows 3.1% month-on-month increase.
According to figures available to Business Compiler, Zenith Bank
gained the highest in the month in review, recording a N28.3 billion in its
market capitalization, while Wema Bank recorded the highest boost in terms of
percentage relative to the previous month.
Top 10 Banks in Nigeria by Market Value
- Zenith Bank
- GT Bank
- Stanbic IBTC
- First Bank
- Access Bank
- UBA
- Union Bank (now Titan Bank)
- Fidelity Bank
- FCMB
- Sterling Bank
1. Zenith Bank
Zenith Bank is currently no. 1 bank in Nigeria by market value.
It maintained the top position with a market capitalisation of N817.9 billion,
2. GT Bank
GT Bank is at the second spot with a market valuation of N791.7
billion.
3. Stanbic IBTC
Stanbic IBTC with N463.2 billion valuation earned it third place
4. First Bank
First Bank’s valuation stood at N412.8 billion as of the end of
January 2022, placing it at number four.
5. Access Bank
Access Bank is the fifth top commercial bank in Nigeria with market size of N351.9 billion
6. United Bank for Africa
UBA is the number 6 bank in Nigeria, going by its market cap of N294.1 billion
7. Union Bank
Union Bank's market value stood at N174.7 billion placing it at no. 7 position of the 10 top strongest Nigerian banks.
8. Fidelity Bank
Fidelity Bank comes distant 8th behind Union Bank with market cap of N81.4 billion.
9. FCMB
The 9th spot goes to FCMB which has market value of N61.9 billion.
10. Sterling Bank
Sterling Bank is waxing strong as it occupies the 10th position with N49.8 billion market capitalisation having 3 other listed banks behind it.
On the other hand, Unity Bank is at the bottom with N5.96 billion market value
