The year 2018 has been very
challenging and equally eventful for the Nigerian banking sector. Skye Bank
morphed into Polaris Bank, while Access Bank and Diamond Bank are fixing the
bolts and nuts of the biggest banking deal of 2018.
The banking sector, which
controlled trillions of naira in market value and transactional strength in
2018, also had a bleeding year, as many of the listed entities had massive
declines in share price and market capitalisation.
The biggest bank in Nigeria, by
market cap, for 2018 is Guaranty Trust Bank (GTB), with a year-end market cap
of over N1 trillion at the Nigerian Stock Exchange (NSE).
Unity Bank had the smallest
market cap by the end of the year, but had a drastic increase in market value,
with a 109.8 percent increase in share price, to lead the pack as the best
performing bank at the exchange for 2018.
Access Bank, on its way to
becoming Nigeria’s largest bank, come 2019, had the worst year, in terms of
market value, shedding 35.05 percent of its share price in 365 days.
Since the Herbert Wigwe-led bank
made the move to acquire Diamond Bank, the latter has gained more than 45
percent in market value, becoming the bride of the Nigerian bourse.
HERE ARE THE BEST AND WORST PERFORMING
BANKS OF 2018
|
RANK
|
BANK
|
SHARE PRICE (N)
|
2018 SHARE PRICE GAIN/LOSS (%)
|
MARKET CAP (N’BILLION)
|
|
1
|
Unity Bank
|
1.07
|
+109.8
|
12.51
|
|
2
|
Sterling Bank
|
1.90
|
+75.93
|
54.70
|
|
3
|
Diamond Bank
|
2.18
|
+45.33
|
50.49
|
|
4
|
First City Monument Bank
|
1.89
|
+28.57
|
37.43
|
|
5
|
Wema Bank
|
0.63
|
+26.00
|
24.30
|
|
6
|
Stanbic IBTC
|
47.95
|
+17.38
|
491.04
|
|
7
|
Ecobank
|
14.00
|
-9.20
|
337.40
|
|
8
|
Zenith Bank
|
23.05
|
-10.10
|
722.12
|
|
9
|
First Bank of Nigeria Holdings
|
7.80
|
-11.36
|
285.37
|
|
10
|
Guaranty Trust Bank (GTB)
|
34.45
|
-15.46
|
1,001
|
|
11
|
Fidelity Bank
|
2.03
|
-17.48
|
58.82
|
|
12
|
Jaiz Bank
|
0.50
|
-20.63
|
14.73
|
|
13
|
United Bank for Africa (UBA)
|
7.70
|
-25.73
|
263.38
|
|
14
|
Union Bank of Nigeria
|
5.60
|
-28.21
|
231.03
|
|
15
|
Access Bank
|
6.80
|
-35.05
|
196.71
|
The ranking above is basically
driven by market forces and share value, it does not directly take into account
corporate governance issues, non-performing loans (NPLs), and other management
factors.
By market cap, the leading banks
for 2018 are GTB, Zenith Bank, Stanbic IBTC, Ecobank and First Bank of Nigeria.
Banks not listed on the Nigerian
Stock Exchange (NSE), such as Keystone Bank, were not taken into consideration
while compiling this list.
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