A list of best and worst performing banks in the year 2018 has emerged with Unity Bank becoming the best performing bank at the exchange for 2018.
Though Unity Bank had the smallest market cap by the end of the year, it, however, had a drastic increase in market value, with a 109.8 per cent increase in share price, to lead the pack as the best performing bank at the exchange for 2018.
In the same vein, the biggest bank in Nigeria, by market cap, for 2018 was Guaranty Trust Bank (GTB), with a year-end market cap of over N1 trillion at the Nigerian Stock Exchange (NSE).
Meanwhile, Access Bank despite being on its way to becoming Nigeria’s largest bank this year, had the worst 2018, in terms of market value, shedding 35.05 per cent of its share price in 365 days.
Since Access Bank made the move to acquire Diamond Bank, the latter has gained more than 45 per cent 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)|
|4||First City Monument Bank||1.89||+28.57||37.43|
|9||First Bank of Nigeria Holdings||7.80||-11.36||285.37|
|10||Guaranty Trust Bank (GTB)||34.45||-15.46||1,001|
|13||United Bank for Africa (UBA)||7.70||-25.73||263.38|
|14||Union Bank of Nigeria||5.60||-28.21||231.03|
On the other hand, the ranking above is basically driven by market forces and share value and does not directly take into account corporate governance issues, non-performing loans (NPLs), and other management factors.
This means that by market cap, the leading banks for 2018 are GTB, Zenith Bank, Stanbic IBTC, Ecobank and First Bank of Nigeria.
Meanwhile, banks not listed on the Nigerian Stock Exchange (NSE), such as Keystone Bank, were not taken into consideration while compiling this list.