The list of the largest commercial banks in Nigeria as of February 2025 has been revealed, as investors scramble for top bank shares
-Checks indicate that Zenith Bank and GT Bank top the list as the largest commercial banks in the Nigerian market.
-The share prices of various commercial banks have risen as investors compete for leading banks’ shares, driven by earnings prospects
Guaranty Trust Holding Company Plc has emerged as the biggest commercial bank in Nigeria based on market capitalisation. Data obtained from the Nigerian Exchange showed that the combined market capitalisation of 12 commercial banks stood at N10.78 trillion as of Friday, February 7, 2024.
Market capitalisation refers to how much a company is worth as determined by the stock market. It is calculated by multiplying the company’s current share price by the number of shares outstanding.
Here is the current ranking of the 10 biggest banks in Nigeria based on their market cap;
-1). GTCO N1.71 trillion Guaranty Trust Holding Company Plc the parent company of GTbank leads the table with a market capitalisation of N2,18 trillion. Its share value recently rose to its highest level ever and is currently priced at N64.00.
-2). Zenith Bank. N1.63 trillion Based on share prices traded on Friday, Zenith Bank is the second largest bank in Nigeria. With a market valuation of N1.63 trillion, the bank’s shares closed on Friday at N52.00.
-3). Access Holdings. N1.49 trillion Access Bank has once again joined the trillion club as its market valuation rose to N1.49 trillion on Friday following a rise in its share prices to N28.
-4). UBA. N1.34 trillion United Bank for Africa has been overtaken by Access Bank and currently has a market value of 1.34 trillion. On Friday the bank’s share price rose to N39.15.
-5). FBN Holdings. N1.02 trillion First Bank is ranked 5th with a market of N1.18 trillion. On Friday, Nigeria’s oldest bank’s share price closed at N33.00
-6). Fidelity Bank. N560.21 billion Fidelity Bank PLC’s shares are valued at N17.50, and the company is worth N560.21 billion. The bank’s stock declined 0.29%.
-7). Stanbic Bank. N803.33 billion Stanbic IBTC Holdings Plc, the parent company of Stanbic, is another bank that has risen in ranking, with a market capitalization of N803.33 billion, thanks to the rise in its share price to N62.
-8 ). Fidelity Bank Plc. N665 billion Fidelity Bank’s share price rose to N20.80 which helped the bank’s market capitalisation to N665.85 billion.
-9). Ecobank. N574.34 billion Ecobank is ranked eighth with a market capitalization of N574.34 billion and a share price of N31.30.
-10). FCMB. N471.30 billion First City Monument Bank is the ninth-ranked bank with a market capitalisation of N471.30 billion, while its share price is N11.90. Wema Bank – N243.23 billion
Wema Bank Plc made it to the top 10 list with a market capitalisation of N243.23 billion and a share price of N11.35. Access Bank reaches agreement to buy South African bank Legit.ng earlier reported that Access Bank moved to expand its presence across Africa and the world with the planned acquisition of another bank.
The bank had announced its plan to acquire Bidvest Bank, the leading second-tier South African bank, in a deal worth over $159 million.
