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Nigerian (NSE) Diversified Banks Industry Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies12
  • 7D6.6%
  • 3M37.3%
  • 1Y50.9%
  • YTDn/a

In the last week, the Diversified Banks industry is up 4.6%, with Guaranty Trust Holding up 9.4%. In the same time, Ecobank Transnational was down 8.7%. This takes the industry's 12 month performance to a gain of 47%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Feb 2026₦17.3t₦14.2t₦4.3t4.7x4x1.2x
Mon, 19 Jan 2026₦15.7t₦14.7t₦4.8t4.1x3.3x1.1x
Wed, 17 Dec 2025₦13.2t₦14.7t₦4.8t3.8x2.8x0.9x
Fri, 14 Nov 2025₦13.2t₦14.7t₦4.8t3.6x2.7x0.9x
Sun, 12 Oct 2025₦11.4t₦14.2t₦4.7t2.9x2.4x0.8x
Tue, 09 Sep 2025₦13.0t₦14.6t₦5.1t3x2.5x0.9x
Thu, 07 Aug 2025₦13.9t₦14.6t₦5.1t3.1x2.7x1x
Sat, 05 Jul 2025₦11.1t₦14.4t₦5.1t2.8x2.2x0.8x
Mon, 02 Jun 2025₦10.0t₦14.4t₦5.1t2.2x2x0.7x
Wed, 30 Apr 2025₦9.8t₦14.2t₦5.1t2.7x1.9x0.7x
Fri, 28 Mar 2025₦9.0t₦13.9t₦5.6t2.2x1.6x0.7x
Sun, 23 Feb 2025₦9.2t₦13.9t₦5.5t2.2x1.7x0.7x
Tue, 21 Jan 2025₦7.7t₦13.7t₦5.3t1.8x1.4x0.6x
Thu, 19 Dec 2024₦7.2t₦13.7t₦5.3t1.7x1.4x0.5x
Sat, 16 Nov 2024₦7.2t₦13.8t₦5.3t1.7x1.3x0.5x
Mon, 14 Oct 2024₦6.3t₦12.5t₦4.8t1.8x1.3x0.5x
Wed, 11 Sep 2024₦5.8t₦11.7t₦4.5t1.5x1.3x0.5x
Fri, 09 Aug 2024₦5.7t₦11.3t₦4.4t1.5x1.3x0.5x
Sun, 07 Jul 2024₦5.8t₦11.0t₦4.4t1.6x1.3x0.5x
Tue, 04 Jun 2024₦5.3t₦10.9t₦4.4t1.4x1.2x0.5x
Thu, 02 May 2024₦5.3t₦9.3t₦3.5t1.6x1.5x0.6x
Sat, 30 Mar 2024₦7.0t₦8.3t₦3.0t2.9x2.3x0.8x
Mon, 26 Feb 2024₦6.0t₦8.0t₦2.7t2.7x2.2x0.7x
Wed, 24 Jan 2024₦7.1t₦6.8t₦2.5t3.6x2.9x1x
Fri, 22 Dec 2023₦6.0t₦6.7t₦2.4t3x2.5x0.9x
Sun, 19 Nov 2023₦5.0t₦6.8t₦2.4t2.6x2.1x0.7x
Tue, 17 Oct 2023₦4.6t₦6.1t₦2.2t2.6x2.1x0.8x
Thu, 14 Sep 2023₦4.8t₦6.0t₦2.0t3x2.4x0.8x
Sat, 12 Aug 2023₦4.8t₦5.2t₦1.4t4.4x3.5x0.9x
Mon, 10 Jul 2023₦5.0t₦4.9t₦1.2t4.8x4.2x1x
Wed, 07 Jun 2023₦3.6t₦4.4t₦1.1t3.3x3.3x0.8x
Fri, 05 May 2023₦3.1t₦4.4t₦1.1t3x2.7x0.7x
Sun, 02 Apr 2023₦3.2t₦4.1t₦1.2t2.8x2.7x0.8x
Tue, 28 Feb 2023₦3.3t₦4.2t₦1.2t2.9x2.7x0.8x
Price to Earnings Ratio

2.7x


Total Market Cap: ₦3.3tTotal Earnings: ₦1.2tTotal Revenue: ₦4.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Diversified Banks Industry Price to Earnings3Y Average 2.2x202420252026
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 4.0x which is higher than its 3-year average PE of 2.2x.
  • The 3-year average PS ratio of 0.74x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 54% 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 Market8.34%
Financials6.54%
Banks6.64%
Diversified Banks6.64%
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
FIRSTHOLDCO First HoldCo₦54.0012.1%
+₦260.1b		75.9%PB0.8x
ZENITHBANK Zenith Bank₦86.506.3%
+₦209.5b		75.1%PB0.8x
GTCO Guaranty Trust Holding₦118.005.4%
+₦190.3b		87.2%PB1.1x
JAIZBANK Jaiz Bank₦11.0032.5%
+₦120.4b		224.5%PB7.2x
ETI Ecobank Transnational₦47.605.8%
+₦61.7b		37.2%PB0.4x

Latest News

UBA
₦49.00
United Bank for Africa
7D
1.4%
1Y
30.7%

United Bank for Africa (UBA) Plc – Launch of Diaspora Services Platform

Author: Qudus Adebara United Bank for Africa Plc has launched its Diaspora Services Platform, a structured digital marketplace designed to connect Africans living abroad with trusted banking, real estate, and lifestyle service providers across the continent. Unveiled in Lagos under the theme “Beyond Banking: Powering the Diaspora Lifestyle,” the initiative represents a strategic expansion of UBA’s diaspora banking proposition and reinforces its position as a leading Pan-African financial institution.
GTCO
₦118.00
Guaranty Trust Holding
7D
5.4%
1Y
87.2%

GTCO: Board Dividend Decisions Will Highlight Elevated Downside Risk

Analysts have raised their NGN fair value estimate for Guaranty Trust Holding from NGN68.38 to NGN72.96, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E multiples. What's in the News Board meeting scheduled for January 27, 2026, to review the audited financial statements for the year ending December 31, 2025 (Key Developments).
ACCESSCORP
₦25.90
Access Holdings
7D
4.4%
1Y
-2.3%
JAIZBANK
₦11.00
Jaiz Bank
7D
32.5%
1Y
224.5%
ZENITHBANK
₦86.50
Zenith Bank
7D
6.3%
1Y
75.1%

ZENITHBANK: Board Dividend Decision Will Highlight Risks To Current Pricing

Analysts have modestly adjusted their price target on Zenith Bank to NGN72.01. This reflects updated views on discount rates, revenue growth assumptions and future P/E expectations.
ETI
₦47.60
Ecobank Transnational
7D
5.8%
1Y
37.2%
WEMABANK
₦26.80
Wema Bank
7D
3.1%
1Y
121.5%

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.
FIRSTHOLDCO
₦54.00
First HoldCo
7D
12.1%
1Y
75.9%
FIDELITYBK
₦20.40
Fidelity Bank
7D
-2.4%
1Y
11.5%