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2021 IN REVIEW: Bank stocks push NGX investors’ gain to N1.24tn

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Nigerian investors Shareholders in quoted firms listed on the floor of the Nigerian Exchange Limited (NGX) realised a gain of N1.238 trillion during the year 2021.

Data obtained from NGX website showed that the market opened the trading year on January 4 at N21.058 trillion in market capitalisation and 40.270.72 in index, closing on December 31, 2021 at N22,296 trillion and 42,716.14 index points.

This implies investors made a year-to-date gain of about N1.238 trillion.

FBN stock leads other banks

Nigerian banking stocks continue to be the most liquid, as First Bank of Nigeria Holding companies outperformed all others.

FBNH posted a Year-to-Date return of 59.44% for the year beating all other quoted banks on the NSE.

FBNH opened the year with its share price at N6.9 per share before rallying all the way to N12.7 per share, its highest price this year. The stock closed the year at N11.4 per share.

Ecobank (ETI) came second with an impressive share price return of 45% for the year.

Read also: 2021 IN REVIEW: Return of Talibans, rise of Trumpism, other events that shook the world

Access Bank gained 10.06% while Zenith Bank closed flat at just 1.4% additional gain from how it closed in 2020.

GTB Holdco and UBA performed poorly with their share prices closing in negative territories. GTB Holdco was bottom with -19.63% and UBA next with -6.94% returns.

GTB performance was a highlight of how such a bad year the bank has had in 2021.

The dip in share price performance also mirrored the drop in pre-tax profits in the first 9 months of 2021 compared to 2020.

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