Nigerian Banking Stocks Surge to N25.1 Trillion Market Value

The combined market capitalization of 12 Nigerian banks, including Zenith Bank PLC and Guaranty Trust Holding Company PLC (GTCO), reached N25.1 trillion from December 31, 2025, to May 29, 2026, marking a N9 trillion increase or 55.8%. This growth is attributed to the Central Bank of Nigeria's (CBN) ongoing recapitalization program and robust earnings performance.

Zenith Bank's share price increased by 112% year-to-date, closing at N131.10 per share, resulting in a market capitalization of N5.38 trillion. GTCO's market value rose to N5.01 trillion.

Both banks rewarded shareholders with dividends, with Zenith Bank paying N12.76 per share and GTCO N10 per share. Zenith Bank reported a profit before tax of N360.92 billion for the first quarter of 2026, a 3% increase from N350.82 billion in the same period in 2025.

Other banks, including Stanbic IBTC Holdings and United Bank for Africa, also saw significant market valuation increases, reflecting strong investor interest in the banking sector.