Zenith Bank Hits N1 Trillion Market Cap to Join SWOOTs

Zenith Bank Plc earnings rose to a market valuation of over N1 trillion making it the first financial institution in Nigeria to surpass the billion bracket. 

According to statistics, from the Nigerian stock exchange, Zenith Bank is the most valued financial institution brand listed on the Nigerian stock exchange.

The outstanding market value of the bank can be attributed to the present increases in share purchasing on the Nigerian Exchange, where investors are eager to invest in financial sector equities.

The stock market is optimistic as stakeholders anticipate tighter banking regulation, due to the suspension of CBN Governor, Godwin Emefiele. 

Zenith Bank shares increased by 10% for the second day in a row, sparking investor interest. This rise in demand resulted in the exchange of approximately 119 million shares on the Nigerian Exchange, with a total transaction value of N4.027 billion. As a result, Zenith Bank's share price increased to N33.80, from N30.8 the previous day.

In just one month, Zenith Bank's shares have gained more than 40% giving stockbrokers the ability to predict that the current market surge will continue for some time. 

After the end of the trading session, the bank's outstanding shares, which totaled 31.396 million, were valued at N1.061 trillion, representing a 10% daily increase.

While Zenith Bank is the most valuable financial service brand, GTCO Plc comes in second with a worth of N991 billion following the current market upsurge.

Zenith Bank's achievement points out its strong position in the Nigerian banking market and reflects investors' confidence in the organization—consistent growth and strong market performance were also what brought the bank to that position. 

A lot of investors have their eyes on Zenith Bank and other key companies in the Nigerian stock market as the share buying continues and the market rally continues. 

With the possibility of further rise, investors and analysts look forward to the unfolding market dynamics and their impact on the financial landscape in the next weeks.

The N1 trillion market valuation of Zenith Bank signifies a remarkable milestone not only for the bank but also for the Nigerian financial services sector as a whole.

Zenith Joins the Club of SWOOTs

In the stock market, there are different rankings and this comes from the total market capitalization. From our keen eyes on the stock market, we have a total of six (6) companies with Zenith Bank inclusive. 

We have Dangote Cement, Bua Foods, BUA Cement, Airtel Africa, MTN Nigeria, and Zenith Bank. Hopefully, we have our eyes on GTCO as they will be entering this list soon. 

At the close of market activities for last week, SWOOTs total market capitalization is valued at N21.560 trillion showing a rise from the N20. 617 trillion market capitalization the previous week. 

From the analysis, shares of Dangote Cement, BUA Cement, and Zenith Bank gained, while MTN and Airtel experienced losses, and BUA Foods didn't experience a change. 

In the NGX Equity market capitalization, SWOOTs make up 66.7% as any change in their earnings affects the Nigerian stock market. 

A Breakdown of SWOOTs Performance Last Week

Dangote Cement Plc

Share price in Dangote Cement gained 1.23% last week to close at N287. 5 per share

  • Its total market capitalization is N4.90 trillion making it the most capitalized cement producer on the NGX. 

  • Q1 2023 financial report shows a marginal loss in revenue of -N6.46 billion (1.56%) to N406.72 billion from N413.18 billion in Q1 2022.

  • Profit After Tax for the period increased marginally by N3.65 billion (1.56%) to N109.50 billion from N105.85 billion in Q1 2022.

MTN Nigeria Plc

MTN experienced a fall of -3.10% last week to close at N265.50 per share

  • Despite holding its place as the most valued company in the NGX, MTN lost a total of N173.01 billion last week, giving the telecom giants a total market cap of N5.404 trillion. 

  • QI 2023 financial report shows that MTN had a revenue of 20.6% growth to N568.14 billion from N470.98 billion in Q1 2022.

  • Profit After Tax increased by 4.6% to N101.30 billion from N96.82 billion recorded in Q1 2022.

Airtel Africa Plc

Airtel Africa Plc experienced a fall of -1.72% last week to close at N1266.8 per share

  • The company lost a market cap of N83.43 billion bringing it to close at N4.76 trillion. 

  • QI 2023 financial report shows that Airtel Africa Plc had a revenue of 20.6% growth year on year compared with the N864.9 billion recorded in Q1 2022. 

  • The report shows that Airtel Africa closed with a sum of N980 billion ($2.128) from its services for the financial year ending March 31, 2023.

BUA Cement Plc

Share price in BUA Cement Plc gained 4.65% last week and closed at N90 per share. 

  • The company's market capitalization is N3.05 trillion. 

  • Q1 2023 financial report shows revenue of N106.35 billion which signifies a growth of 9.65% from N96.99 billion in 2021.

  • Profit After Tax for Q1 2023 fell by -19.1% to N26.80 billion from N33.14 billion recorded in the corresponding period. 

  • Earnings Per Share (EPS) fell by -19.39% from N0. 98 to N0.79.

BUA Foods Plc

Shares at BUA Foods Plc didn't change last week and it closed at N135.75 per share. 

  • The market capitalization is N2.44 trillion. 

  • Q1 2023 financial report shows that revenue grew by 60.2% to N144.32 billion from N90.06 billion recorded in Q1 2022.

  • Profit After Tax rose by 77.1% to N40.47 billion from N22.84 billion in Q1 2022.

  • Earnings Per Share (EPS) grew to N2.25 an increase of 77% recorded in Q1 2022.

Zenith Bank 

Zenith Bank which just joined SWOOTs has a market capitalisation of N1 trillion. A breakdown:

The company share price rose to 3.23% last week to close at N33 per share. The market capitalization gained N31.39 billion to close at N1.004 trillion. 

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