First HoldCo has overtaken Zenith Bank as the most valuable bank on the Nigerian Exchange (NGX) after its market capitalisation increased to N4.797 trillion at the close of trading on Monday.
TheCable’s analysis of the bank stocks on the NGX showed that First HoldCo’s market valuation rose slightly above that of Zenith Bank, which was N4.792 trillion, while Guaranty Trust Holding Company (GTCO) followed closely with N4.72 trillion.
Together, the three institutions account for 54.6 percent of the banking sector’s total market value on the exchange.
The combined market valuation of the 11 banks on the bourse rose to N25.85 trillion, from N25.18 trillion on July 17.
Below is the ranking of the banks by market valuation.
FIRST HOLDCO
First HoldCo edged Zenith Bank to become Nigeria’s most valuable bank in the stock market after its share price appreciated by 9.95 percent.
