FBN Holdings Rises by 14% to N1.328 Trillion
FBN Holdings has become the second largest financial institution on the Nigerian Exchange (NGX) as its shares have become attractive to investors. The elephant is running faster than anticipated.
The financial service group’s share price rose by 14.19% to settle at N37 in the market due to its increased popularity among alpha seekers.
The gain lifted its market valuation to N1.328 trillion, pushing its weight higher to become the most valuable lender in the local bourse. FBN Holdings has expanded strongly since last year, following a large share acquisition by Femi Otedola, its current board chairman.
The financial services boutique has accelerated ahead of Zenith Bank, UBA, and Access Bank Plc in terms of market valuation. It is also contesting market leadership with GTCO, which is currently the most valuable.
Analysts noted that FBNH has become volatile with a large trading volume in the stock market. At the close of a trading session, GTCO’s market valuation was N1.425 trillion.
Zenith Bank Plc was valued at N1.246 trillion at a unit price of N39.70. UBA Plc’s stock market valuation closed at N831 billion on Friday. Access Corp. is worth about N818 billion ahead of its final earnings release. # FBN Holdings Rises by 14% to N1.328 Trillion
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