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GTCO shareholders pocket N75bn as Nigeria’s five biggest banks end the week on high

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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 with the quintet netting N179.82 billion from the Nigerian capital market at the close of business.

The five banks, popularly known as the FUGAZ, are the most capitalized lenders in the financial sector with Zenith Bank as number one followed by GTCO and First Bank.

Access Bank and UBA Plc completed the list.

At the end of this week’s trading, Zenith Bank’s market capitalization rose by 8.51 percent during trading to rise from N737.81 billion to N800.61 billion.

The lender’s shareholders earned N62.79 billion at the close of the week’s business.

GTCO shareholders pocketed N75.04 billion as stakeholders’ total investment rose from N704.87 billion to N779.92 billion in five days.

READ ALSO: Did GTBank breach CBN rule to make Segun Agbaje GTCO Group CEO?

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 reported on Monday.

Access Bank’s market capitalization increased by 5.17 percent after adding N15.99 billion to its total investment this week.

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.

UBA completed the list for the week with its shareholders’ investment rising by 7.33 percent.

UBA shareholders went home with N18.80 billion after the bank’s equity capitalization rose from N256.49 billion to N275.30 billion during the week.

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