RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Economics

Zenith bank edge GTCO by N51 Billion in Market Capitalization

Rate Captain by Rate Captain
January 14, 2022
in Economics, Markets, News
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

MTN Nigeria now more valuable than all Nigerian Banks combined

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

As trading session closed on Thursday, 13 January 2021, Zenith bank share price traded at a higher rate compared to its fierce competitor Guaranty Trust bank. Currently, Zenith bank plc is amongst the prime companies listed on the Nigerian stock exchange (NSE) in terms of liquidity.

Zenith bank watched as their share price gained 0.20% on the day, the commercial bank traded 4.5–million-unit share (N114.2 million) in the NSE while their stock price closed at N25.50. Meanwhile, Guaranty Trust bank traded 10.9 million unit shares (277.9 Million) and closed at N25.45.

The share price gain by Zenith bank resulted in its increase in market capitalization, with Zenith bank plc’s market cap rising by N51 billion to N800 billion and GTCO maintaining a N749 billion market capitalization.

A reason for the disparity in share price between GTCO and Zenith Bank is the direct correlation between share prices and financial performance of both companies. According to financial statements released in the third-quarter 2021, Zenith Bank’s net interest income stood at approximately N234.8 billion, while GTCo was able to generate N162.9 billion.

Furthermore, GT Co’s shares have started the year on the downside as it has lost 2.12% Year-to-Date (YtD) in 2022. We see the opposite in Zenith Bank as its share price is up by 1.39% YtD.

Nonetheless, Zenith bank plc has a larger amount of outstanding shares than GTCO, Zenith’s  Profit after tax in the third quarter  was quoted at N160.6 million. While, Guaranty’s interest income even as Guaranty’s PAT stood at N129.4 billion.

Previous Post

Nigeria Stock Market Update

Next Post

Nigeria Liquefied Gas Limited To Concentrate Distribution of Gas to Domestic Market

Related News

MTNN Share Price gains 1.21% after CBN granted the final approval of its MoMo PSB

MTN Nigeria now more valuable than all Nigerian Banks combined

by Rate Captain
May 23, 2022
0

is now worth N5 trillion making it more valuable than all banks, insurance companies, and the entire financial services companies...

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

by Rate Captain
May 18, 2022
0

Chicago Federal Reserve Bank President Charles Evans said he supports moving to a shallower rate-hike path by July or September...

Next Post

Nigeria Liquefied Gas Limited To Concentrate Distribution of Gas to Domestic Market

Leave a Reply Cancel reply

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

Recommended

BNP Paribas has joined JPMorgan’s blockchain-based network.

BNP Paribas has joined JPMorgan’s blockchain-based network.

May 23, 2022
CBN say Nigeria would reap the benefits of a rising oil price

Crude oil hit $111 a barrel amid weak dollar and OPEC’s stance to aid Russia

May 23, 2022

Popular Story

  • Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

    0 shares
    Share 0 Tweet 0
  • BNP Paribas has joined JPMorgan’s blockchain-based network.

    0 shares
    Share 0 Tweet 0
  • Investment Bank, JP Morgan predicts Foreign Exchange Rates from 2022-2023

    0 shares
    Share 0 Tweet 0
  • Experts predicts the death of Shiba Inu

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.