FUGAZ investors earn N79 billion during the week

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The market capitalization of Nigeria’s top five banks, also known as Tier 1 banks or FLOORS, appreciated 3.53% to close at 2.31 trillion naira on Friday, even as investors in these banks gained a total of 78 naira. 6 trillion.
After five trading days into the week, four of the five Tier 1 Nigerian banks enjoyed positive market sentiment, with GTCO leading the gainers, while only UBA remained unchanged.
According to data from the Nigerian Stock Exchange (NGX), the market capitalization of the top five banks increased to N2.31 trillion after appreciating 3.53% over the week.
Below is a summary of each bank’s performance.


FBNH PLC

FBNH’s share price appreciated 1.8% as its market capitalization closed the week at 402 billion naira, gaining a total of 7.17 billion naira week-over-week.

FBNH Plc’s earnings report for the nine-month period ended 30 September 2022 showed interest income grew 45.3% year-on-year to Naira 144 billion from Naira 99 billion on the previous quarter. same period in 2021. Similarly, profit after tax grew 1,155% YoY to Naira 34bn. during the period under review, of N2.7 billion.


UBA PLC

United Bank for Africa Plc’s share price was unchanged for the week, holding a share price of N7.3 as of Friday. Furthermore, the bank’s market capitalization held at N249.6 billion amid selling and buying of interest at the end of the trading week.

UBA Plc released its financial statements for the third quarter of 2022, which revealed that net interest income rose 29% to N105 trillion from N81.1 trillion, while total assets increased to N9.31 trillion from N8.45 trillion on record. during the comparable period in 2021. In addition, the company’s after-tax profit increased by 3.85% to Naira 45,708 billion from Naira 44,014 billion in the same period of 2021.


GT Holding Company Plc

GTCO Plc appreciated by N41.2 billion after its market capitalization increased to N629.82 billion from N588.62 billion at the end of the week’s trading session.

The growth can be attributed to a 7.00% rise in share price from N20.00 to N21.40 at close of business.

The bank’s financial statements for the period ended 30 September 2022 revealed a 23.71% growth in net interest income from N68.94 billion in the third quarter of 2021 to N85.29 billion in the current period. However, profit after tax rose 5.61% to N52.79 billion from N49.98 billion in the current period.


Access Holdings Plc

Access Holding Plc share price appreciated 1.2% to close the week at N8.7 and the market capitalization gained N3.550 million as the market capitalization stood at N309.680 million.

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


Zenith Plc Bank

Zenith Bank Plc earned N26.68 billion wow after its market capitalization appreciated to N714.27 billion from N687.58 billion at the end of the week. This appreciation can be attributed to the 3.9% growth in its share price, from N21.90 traded at the end of last week, to N22.75 at the end of this week.

The bank’s Q3 2022 financial result for the period ending September revealed that interest income for the period rose 24.7% to N215.81 billion from N173.114 billion in the corresponding period of 2021. After-tax profit for the period also increased by 15.5% from N54.475 billion in 2021 to N62.924 billion in the current period.

WHAT YOU SHOULD KNOW

Nigerian Exchange Limited (NGX) closed positive week-over-week as the ASI appreciated 1.26% to close at 48,154.65.

FUGAZ banks account for more than 70% of the NSE banking sector index, therefore they strongly influence the growth or not of the index; Thus, the NGX banking index grew 1.22% from last week’s 399.15 to close at 404.04 points.

… FLEEING Investors Earn N79 Billion During the Week Read More at … Naijaonpoint.

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