Access Holdings and UBA Attract Investors Amid Banking Rally

Access Holdings Plc and United Bank for Africa (UBA) Plc are currently drawing investor attention as Nigerian banking stocks experience strong gains. The NGX Banking Index has seen a sharp increase in 2026, although investors remain cautious regarding earnings sustainability, credit risks, and regulatory capital requirements.

Access Holdings, Nigeria's largest banking group by total assets, reported gross earnings of N5.53 trillion and a profit after tax of N743.05 billion for the year 2025. Its total assets rose to N51.56 trillion.

Despite its significant operational scale, market assessments indicate that Access Holdings trades at a substantial discount to its net asset value, making its price-to-book ratio a critical factor for investors. UBA is also prominently featured in the valuation debate among analysts, who caution that low share prices do not guarantee investment gains.