The market capitalization of the top five banks referred to as the Tier-1 banks grew to N2.51 trillion at the close of business on July 23, 2021, as investors in these banks gained N25.56 billion during the trading week.
According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks grew to N2.51 trillion to appreciate by 1.0% during the week.
The gain can be attributed to the buy-interests witnessed in the share prices of the banks, during the three trading days.
A summary of performance for each bank is captured below.
First Bank Holdings Nig. Plc gained a total of N7.18 billion after its market capitalization grew from N262.04 billion to N269.21 billion at the close of business on Friday.
The growth is due to the appreciation in its share price which closed at N7.50, gaining about 2.7% at the end of the week.
During the week, investors traded about 16,175,833 units of the bank’s shares valued at N119.56 million. The volume of shares traded depreciated immensely by 13.15%, when compared to 18.63 million units traded the previous week.
Earlier in the month, First Bank of Nigeria Limited announced a webinar event designed for SMEs, to enlighten entrepreneurs on how to access finance for their businesses.