• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities

FUGAZ investors gain N34.1 billion during the week 

Inimfon Asifa by Inimfon Asifa
March 26, 2023
in Equities, Markets
FUGAZ shares rises by 6.40% as Investors gain N162.2 billion.
Share on FacebookShare on TwitterShare on Linkedin

Key Highlights

  • The market capitalization of Nigeria’s tier-1 banks, FUGAZ, appreciated by 1.39% to close at N2.57 trillion on Friday, March 24, 2023, as investors gained a total of N34.1 billion.
  • After five trading days of the week, one of the five tier-1 Nigerian banks suffered negative market sentiments.
  • The market capitalization of the top five banks rose to N2.48 trillion after appreciating by 2.57% during the week, with each bank having different financial performance and growth in interest income and profit after tax.

The market capitalization of Nigeria’s tier-1 banks, otherwise known as FUGAZ, appreciated by 1.39% to close at N2.57 trillion on Friday, March 24 2023, as investors gained a total of N34.1 billion. 

After five trading days of the week, one of the five tier-1 Nigerian banks suffered negative market sentiments. 

According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks rose to N2.48 trillion after appreciating by 2.57% during the week. 

RelatedStories

Zenith Bank

Zenith Bank says dividend freeze temporary as it races to exit CBN forbearance list 

June 18, 2025
MD FCMB, Mrs. Yemisi Edun

FCMB reassures investors on forbearance loans, outlines plan to sustain dividends

June 17, 2025

A summary of the performance of each bank is captured below. 

FBNH PLC 

FBNH’s share price appreciated at N10.90, with its market capitalization at N391.2 billion amid sell-offs and buy-interests at the end of the trading week. 

FBNH Plc’s earnings report for the 9-month ended 30th September 2022, showed that interest income grew by 45.3% Y-o-Y to N144 billion from N99 billion recorded in the same period of 2021. Similarly, profit after tax grew by 1155% Y-o-Y to N34 billion during the period under review, from N2.7 billion. 

UBA PLC 

United Bank for Africa Plc share price depreciated by 0.6% to close the week at N8.00, with its market capitalization at N273.5 billion amid sell-offs and buy-interests at the end of the trading week  

UBA Plc released its Q3 2022 financial statements, revealing that net interest income appreciated by 29% to N105 billion from N81.1 billion, while total assets grew to N9.31 trillion from N8.45 trillion recorded during the comparable period in 2021. In addition, the company’s profit after tax rose by 3.85% to N45.708 billion from N44.014 billion in the same period of 2021. 

GT Holding Company Plc 

GTCO Plc’s share price appreciated by 1.2% to close the week at N24.90, with its market capitalization at N732.8 billion amid sell-offs and buy-interests at the end of the trading week. 

The bank’s financial statements for the period ended 30th September 2022 revealed a growth of 23.71% in net interest income from N68.94 billion as of Q3 2021 to N85.29 billion in the current period. However, post-tax profit appreciated by 5.61% to N52.79 billion from N49.98 billion in the current period. 

Access Bank Plc 

Access Bank Plc’s share price appreciated by 3.0% to close the week at N8.65, with its market capitalization at N307.4 billion amid sell-offs and buy-interests at the end of the trading week 

Access Bank Plc released its latest earnings report for the period ended September 2022, which revealed a profit of N48 billion. This is a 31% increase compared to the profit report during the comparable period in 2021. The financial report also showed that interest income rose by 34% from N154.941 billion to N115.543 billion in the current period. 

Zenith Bank Plc 

Zenith Bank Plc gained N10.9 billion w-o-w after its market capitalization appreciated to N783.3 billion from N772.2 billion at the end of the week. The appreciation can be attributed to the 1.4% increase in its share price from N24.60 to N24.95. 

The bank’s Q3 2022 financial result for the period that ended September revealed that interest income for the period grew by 24.7% to N215.81 billion from N173.114 billion in the corresponding period of 2021. Profit after tax for the period also grew by 15.5% from N54.475 billion in 2021 to N62.924 billion in the current period. 

What you should know 

  • The Nigerian Exchange Limited (NGX) closed negative week-on-week as ASI depreciated by 0.05% to close at 54,892.53. 
  • The FUGAZ banks make up over 70% of the NSE Banking sector index, hence, strongly influencing the growth or otherwise of the index; however, the NGX banking index depreciated by 0.25 % to close at 436.95 points. 

Follow us for Breaking News and Market Intelligence.
Tags: Access BankFCMB Group PlcGT Bank PlcNigeria Stock Exchange (NSE)United Bank for Africa Plc (UBA Plc)Zenith Bank Plc
Inimfon Asifa

Inimfon Asifa

Related Posts

Zenith Bank
Financial Services

Zenith Bank says dividend freeze temporary as it races to exit CBN forbearance list 

June 18, 2025
MD FCMB, Mrs. Yemisi Edun
Bank Recapitalization

FCMB reassures investors on forbearance loans, outlines plan to sustain dividends

June 17, 2025
Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 
Financial Services

Report: Nigerian banks paying their staff less salaries compared to African peers, blames AMCON 

June 13, 2025
Nigerian banks, fintechs set to launch cNGN stablecoin on February 27 
Exclusives

Top 10 Nigerian banks with the highest app downloads as of May 2025  

June 13, 2025
Zenith Bank
Companies

Zenith Bank wins Best Bank In Nigeria in the Global Finance Best Banks Awards 2025

June 5, 2025
UBA
Financial Services

UBA, Access Bank among Nigeria’s strongest brands in 2025 –  Report 

May 22, 2025
Next Post
Nigeria’s Former Chief of General Staff, Oladipo Diya, is dead

Former Chief of General Staff under Abacha regime, Oladipo Diya, is dead

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Oyo Govt approves N63.4 billion to renovate Government House 
  • NDLEA to establish full-scale drug control operations at Benin Airport 
  • US, Federal High Court sign MOU to strengthen terrorism financing adjudication across Nigeria 

Follow us on social media:

Recent News

Oyo State to upgrade primary health centers to 24 hours medical centers

Oyo Govt approves N63.4 billion to renovate Government House 

June 18, 2025
NDLEA to establish full-scale drug control operations at Benin Airport 

NDLEA to establish full-scale drug control operations at Benin Airport 

June 18, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics