Zenith, GTB ends Q1, 2023 as Nigeria’s most valuable commercial banks, FirstBank drops

Zenith Bank and Guaranty Trust Bank have emerged as Nigeria's most valuable commercial banks for the first quarter of 2023 (January-March), based on their market capitalization.

As per data collected by Legit.ng from the Nigerian Exchange Group (NGX), Zenith Bank concluded March 2023 with a market capitalization of N811.60bn, an increase of N43 billion from its starting value of N767.64 billion.

This makes Zenith Bank's market cap the highest among the 13 commercial banks listed on the Nigerian Stock Exchange.

Market capitalization is a measure of how much a company is worth, as determined by the stock market.

Guaranty Trust Bank, with a market capitalization of N750.50 billion, retains its second-place position.

During the first quarter of the year, GT Bank's market cap increased by N44.16bn, compared to N706.34 billion in January 2023.