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Ivy Washington posted in the group Business
Nigeria’s largest bank by profits and net assets Zenith Bank has now outpaced GT Co as the most valuable bank in the country. Zenith Bank’s market capitalization rose past N800 billion on Thursday while GT Co slipped to N749 billion.Nigeria’s most efficient bank, Guaranty Trust Holding Company, the owners of GT Bank has suffered an N80 billion loss in market valuation since it transformed into a bank holding company. GT Bank’s shares price was trading at N28 per share in the weeks leading to finally transforming to a holding company.
Since then, its share price has taken a nosedive ending the year with a 20% drop compared to the banking sector all share index which gained 10% during the year. The slide appears to have continued this year with the share price falling to N25.45 on Wednesday. In fact, the bank shares fell to a year low of N23.9 in December before rallying to N26 in December.
Nairametrics
