Zenith Becomes Second Bank to Hit N3trn Valuation as Shares Soar

Zenith Bank saw its market capitalisation cross the N3 trillion mark on Wednesday, becoming the second lender to achieve the milestone after Guaranty Trust Holding Company Plc (GTCO).

Its valuation on the Nigerian Exchange Limited (NGX) surged to N3.12 trillion from N2.94 trillion on Monday.

The market value of GTCO, the parent of Guaranty Trust Bank, rose to N3 trillion a week earlier as it listed on the London Stock Exchange, cementing its position as the biggest lender by market capitalisation on the NGX. It increased further to N3.68 trillion on Wednesday.