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Nigerian (NSE) Diversified Banks Industry Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies12
  • 7D3.4%
  • 3M24.5%
  • 1Y79.9%
  • YTDn/a

Zenith Bank is up 8.7%, leading the way for the Diversified Banks industry, which has gained 3.4%. This takes the industry's 12 month performance to a gain of 80%. Looking forward, earnings are forecast to grow by 14% annually.

Industry Valuation and Performance

Has the Nigerian Diversified Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 10 Apr 2026₦19.4t₦14.7t₦4.6t4.9x4.2x1.3x
Sun, 08 Mar 2026₦18.6t₦14.3t₦4.3t4.7x4.3x1.3x
Tue, 03 Feb 2026₦15.2t₦14.7t₦4.8t3.3x3.1x1x
Thu, 01 Jan 2026₦14.1t₦14.7t₦4.8t4x3x1x
Sat, 29 Nov 2025₦12.7t₦14.7t₦4.7t4x2.7x0.9x
Mon, 27 Oct 2025₦13.9t₦14.2t₦4.6t3x3x1x
Wed, 24 Sep 2025₦12.8t₦14.2t₦4.7t3x2.7x0.9x
Fri, 22 Aug 2025₦13.4t₦14.7t₦5.1t3x2.6x0.9x
Sun, 20 Jul 2025₦13.2t₦14.4t₦5.1t3x2.6x0.9x
Tue, 17 Jun 2025₦9.9t₦14.4t₦5.1t2.3x1.9x0.7x
Thu, 15 May 2025₦9.8t₦14.6t₦5.3t2.3x1.8x0.7x
Sat, 12 Apr 2025₦9.4t₦14.2t₦5.4t2.4x1.7x0.7x
Mon, 10 Mar 2025₦8.6t₦13.9t₦5.5t2.2x1.6x0.6x
Wed, 05 Feb 2025₦8.9t₦13.9t₦5.5t2.3x1.6x0.6x
Fri, 03 Jan 2025₦7.5t₦13.7t₦5.3t1.7x1.4x0.6x
Sun, 01 Dec 2024₦7.1t₦13.9t₦5.4t1.6x1.3x0.5x
Tue, 29 Oct 2024₦6.7t₦12.8t₦4.9t1.8x1.4x0.5x
Thu, 26 Sep 2024₦6.5t₦12.2t₦4.8t1.8x1.3x0.5x
Sat, 24 Aug 2024₦5.7t₦11.3t₦4.4t1.4x1.3x0.5x
Mon, 22 Jul 2024₦5.8t₦11.1t₦4.4t1.6x1.3x0.5x
Wed, 19 Jun 2024₦5.5t₦10.9t₦4.4t1.4x1.3x0.5x
Fri, 17 May 2024₦5.3t₦10.6t₦4.2t1.3x1.2x0.5x
Sun, 14 Apr 2024₦6.1t₦8.8t₦3.4t1.9x1.8x0.7x
Tue, 12 Mar 2024₦5.9t₦8.2t₦2.7t2.6x2.2x0.7x
Thu, 08 Feb 2024₦6.2t₦7.8t₦2.6t2.9x2.3x0.8x
Sat, 06 Jan 2024₦6.6t₦6.9t₦2.5t3.4x2.7x1x
Mon, 04 Dec 2023₦5.3t₦6.6t₦2.4t2.6x2.2x0.8x
Wed, 01 Nov 2023₦4.9t₦6.7t₦2.3t2.4x2.1x0.7x
Fri, 29 Sep 2023₦4.5t₦6.1t₦2.2t2.5x2.1x0.7x
Sun, 27 Aug 2023₦4.5t₦5.3t₦1.4t4.3x3.3x0.9x
Tue, 25 Jul 2023₦5.0t₦5.1t₦1.3t4.5x3.8x1x
Thu, 22 Jun 2023₦4.2t₦4.8t₦1.2t4.1x3.6x0.9x
Sat, 20 May 2023₦3.3t₦4.4t₦1.1t3.1x2.9x0.7x
Mon, 17 Apr 2023₦3.1t₦4.3t₦1.2t2.7x2.5x0.7x
Price to Earnings Ratio

2.5x


Total Market Cap: ₦3.1tTotal Earnings: ₦1.2tTotal Revenue: ₦4.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Diversified Banks Industry Price to Earnings3Y Average 2.3x202420252026
Current Industry PE
  • Investors are optimistic on the Nigerian Diversified Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 4.2x which is higher than its 3-year average PE of 2.3x.
  • The 3-year average PS ratio of 0.77x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 56% per year over the last three years.
  • Revenues for these companies have grown 51% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Nigerian Diversified Banks compare with similar industries?

NG Market0.30%
Financials2.98%
Banks3.43%
Diversified Banks3.43%
Regional Banks0%0
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ZENITHBANK Zenith Bank₦112.008.7%
+₦369.6b		127.6%PB0.9x
GTCO Guaranty Trust Holding₦131.507.8%
+₦347.2b		97.7%PB1.4x
FIRSTHOLDCO First HoldCo₦52.004.0%
+₦88.9b		107.2%PB0.7x
UBA United Bank for Africa₦46.801.8%
+₦37.6b		32.8%PB0.5x
ACCESSCORP Access Holdings₦26.000.2%
+₦2.6b		25.3%PB0.4x

Latest News

ZENITHBANK
₦112.00
Zenith Bank
7D
8.7%
1Y
127.6%
GTCO
₦131.50
Guaranty Trust Holding
7D
7.8%
1Y
97.7%

GTCO Q3 Earning Result – Strong Core Earnings Momentum Sustained Despite Absence of Exceptional FX Gains

Analyst: Qudus Adebara Executive Summary Guaranty Trust Holding Company Plc (GTCO or “the Group”) released its unaudited financial statements for the nine months ended 30 September 2025 , demonstrating sustained growth in core banking operations despite a high base effect from 2024’s exceptional FX revaluation gains. The Group reported a profit before tax (PBT) of ₦900.8 billion , representing a 26% year-on-year decline from ₦1.22 trillion in 2024, primarily reflecting the non-recurrence of last year’s outsized foreign exchange gains.
ACCESSCORP
₦26.00
Access Holdings
7D
0.2%
1Y
25.3%
FIDELITYBK
₦19.05
Fidelity Bank
7D
-1.3%
1Y
-2.3%
STERLINGNG
₦7.70
Sterling Financial Holdings
7D
-2.5%
1Y
49.5%
UBA
₦46.80
United Bank for Africa
7D
1.8%
1Y
32.8%
NPFMCRFBK
₦5.70
NPF Microfinance Bank
7D
-7.9%
1Y
251.9%
FIRSTHOLDCO
₦52.00
First HoldCo
7D
4.0%
1Y
107.2%
WEMABANK
₦26.00
Wema Bank
7D
-0.8%
1Y
137.4%

last Report

Wema Bank Plc – Strong Loan Growth and Profitability Drive Solid 9M 2025 Performance Analyst: Qudus Adebara Executive Summary Wema Bank Plc delivered a robust performance for the nine months ended September 30, 2025, with strong revenue growth, expanded loan book, and improved profitability metrics. The Bank’s financial results reflect strong net interest income, effective cost management, and disciplined credit risk control.