FBN Holdings (FBNH) has emerged as the top-performing tier-one bank stock on the Nigerian Exchange (NGX), delivering an impressive 17.65 percent year-to-date (YTD) return. The stock outpaced its banking sector peers, including Access Holdings, Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), and Zenith Bank.
Market data shows that FBNH’s 17.65 percent YTD return leads among major banks, with: Access Holdings up 17.40 percent; UBA gaining 15.15 percent; Zenith Bank rising 14.29 percent and GTCO increasing by 12.28 percent.
At the close of trading on Friday, FBN Holdings’ share price settled at N33 per share, pushing its market capitalization to N1.185 trillion.
The surge in FBNH’s stock price reflects strong investor confidence, fueled by the company’s solid Full Year 2024 earnings report.
According to its unaudited Group Financial Statements, the bank recorded a 142 percent year-on-year (Y-o-Y) increase in Profit Before Tax (PBT) to N862 billion. Additionally, Gross Earnings skyrocketed 113 percent Y-o-Y to N3.33 trillion.
Despite FBNH’s strong performance, the market is still awaiting the Full Year 2024 financial results from Access Holdings, GTCO, UBA, and Zenith Bank. These reports could further shape investor sentiment and determine the performance trajectory of tier-one bank stocks on the NGX in the coming weeks.
As the banking sector continues to show resilience, investors are keeping a close watch on earnings reports, economic trends, and policy decisions that could influence stock market movements.
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