The market capitalization of the highest 5 banks, known as the Tier-1 banks or FUGAZ, appreciated by 0.77% to shut at N2.28 trillion as at fifteenth of July, 2022, as buyers in these banks gained a complete of N17.44 billion in the course of the buying and selling week.
After 3 buying and selling days of the week, 3 of the 5 tier-1 Nigerian banks loved constructive market sentiments, with FBNH Plc main the gainers.
In accordance with information from the Nigerian Alternate (NGX), the market capitalization of the highest 5 banks grew to N2.28 trillion to understand by 0.77% in the course of the week.
FBNH’s share value gained 2.83% to shut the week at N10.90, with its market capitalization at N391.26 billion on the finish of the week. Amid sell-offs and buy-interests, on the finish of the buying and selling week, FBNH’s share value stood at N10.90.
It’s Q1 2022 end result confirmed that Curiosity Earnings grew by 39.67% Y-o-Y to N109.45 billion, from N78.36 billion recorded in the identical interval of 2021. Equally, Revenue after tax grew considerably by 107.63% Y-o-Y to N32.44 billion in the course of the interval below evaluate.
United Financial institution for Africa Plc depreciated by 1.99% as its market capitalization closed the week at N253.05 billion to lose a complete of N5.13 billion w-o-w, with its share value standing at N7.40.
UBA Plc launched its Q1 2022 financials, revealing that web curiosity revenue appreciated by 14.10% to N84.87 billion from N74.38 billion, whereas complete belongings grew to N8.89 trillion from N8.54 trillion in December 2021. As well as, the corporate’s revenue after tax rose by 8.76% to N41.50 billion, up from N38.16 billion in the identical interval of 2021.
GTCO Plc appreciated by N16.19 billion as its market capitalization elevated to N616.58 billion from N600.40 billion on the finish of the week’s buying and selling session.
The expansion could be attributed to the rise in its share value, from N20.40 traded on the finish of final week to N20.95 as at shut of enterprise, reflecting a rise of two.7%.
The Q1 2022 monetary end result revealed that the Group reported a progress of 9.10% in web curiosity revenue from N52.43 billion recorded within the corresponding interval of 2021 to N57.20 billion within the present interval. Nonetheless, post-tax revenue depreciated by 5.13% to N43.21 billion within the present interval.
Entry Financial institution Plc’s share value depreciated by 3.16% to shut the week at N9.20, and the market capitalization misplaced N10.66 billion to face at N327.2 billion.
The financial institution launched its Q1 2022 monetary end result, which revealed a revenue of N57.40 billion in Q1 2021, reflecting a 9.23% enhance. The assertion revealed that Web curiosity revenue declined by 7.03% from N93.96 billion to N87.36 billion within the present interval.
Zenith Financial institution Plc gained N6.28 billion w-o-w after its market capitalization appreciated to N697.00 billion from N690.72 billion on the finish of the week. This appreciation could be attributed to the 0.91% progress in its share value, from N22.00 traded on the finish of final week, to N22.20 on the finish of this week.
The financial institution’s Q1 2022 monetary end result for the interval ended March revealed that Web Curiosity revenue for the interval grew by 20.89% to N100.54 billion from N83.17 billion within the corresponding interval of 2021. Nonetheless, post-tax revenue for the interval reported a progress of 9.68% from N53.06 billion in 2021 to N58.20 billion within the present interval.