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Nigerian (NSE) Diversified Banks Industry Analysis

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies12
  • 7D0.5%
  • 3M20.5%
  • 1Y103.4%
  • YTDn/a

In the last week, Diversified Banks has been flat. As for the the longer term, the industry is up 103% over the past 12 months. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 May 2026₦23.7t₦15.0t₦4.5t6.2x5.3x1.6x
Thu, 23 Apr 2026₦23.1t₦14.6t₦4.6t5.3x5.1x1.6x
Sat, 21 Mar 2026₦19.2t₦14.3t₦4.3t5.1x4.4x1.3x
Mon, 16 Feb 2026₦16.9t₦14.3t₦4.3t4.7x3.9x1.2x
Wed, 14 Jan 2026₦15.4t₦14.7t₦4.8t3.9x3.2x1.1x
Fri, 12 Dec 2025₦13.2t₦14.7t₦4.8t3.8x2.8x0.9x
Sun, 09 Nov 2025₦12.8t₦14.7t₦4.8t3.5x2.7x0.9x
Tue, 07 Oct 2025₦11.5t₦14.2t₦4.7t2.9x2.4x0.8x
Thu, 04 Sep 2025₦12.9t₦14.6t₦5.1t3x2.5x0.9x
Sat, 02 Aug 2025₦14.0t₦14.6t₦5.1t3.1x2.7x1x
Mon, 30 Jun 2025₦10.9t₦14.4t₦5.1t2.6x2.1x0.8x
Wed, 28 May 2025₦10.0t₦14.4t₦5.1t2.3x2x0.7x
Fri, 25 Apr 2025₦9.3t₦14.2t₦5.1t2.5x1.8x0.7x
Sun, 23 Mar 2025₦8.7t₦13.9t₦5.5t2.2x1.6x0.6x
Tue, 18 Feb 2025₦9.4t₦13.9t₦5.5t2.3x1.7x0.7x
Thu, 16 Jan 2025₦7.7t₦13.7t₦5.3t1.8x1.4x0.6x
Sat, 14 Dec 2024₦7.2t₦13.7t₦5.3t1.7x1.3x0.5x
Mon, 11 Nov 2024₦7.0t₦13.8t₦5.3t1.6x1.3x0.5x
Wed, 09 Oct 2024₦6.4t₦12.5t₦4.8t1.9x1.3x0.5x
Fri, 06 Sep 2024₦5.8t₦11.7t₦4.5t1.5x1.3x0.5x
Sun, 04 Aug 2024₦5.6t₦11.2t₦4.5t1.4x1.2x0.5x
Tue, 02 Jul 2024₦5.6t₦10.9t₦4.4t1.6x1.3x0.5x
Thu, 30 May 2024₦5.1t₦10.6t₦4.3t1.4x1.2x0.5x
Sat, 27 Apr 2024₦5.2t₦8.9t₦3.4t1.5x1.5x0.6x
Mon, 25 Mar 2024₦6.9t₦7.9t₦2.7t3.1x2.6x0.9x
Wed, 21 Feb 2024₦5.9t₦8.2t₦2.7t2.8x2.2x0.7x
Fri, 19 Jan 2024₦7.3t₦6.8t₦2.5t3.8x3x1.1x
Sun, 17 Dec 2023₦5.8t₦6.7t₦2.4t2.9x2.4x0.9x
Tue, 14 Nov 2023₦5.0t₦6.7t₦2.4t2.6x2.1x0.7x
Thu, 12 Oct 2023₦4.6t₦6.1t₦2.2t2.6x2.1x0.8x
Sat, 09 Sep 2023₦4.9t₦5.5t₦1.6t4.2x3.2x0.9x
Mon, 07 Aug 2023₦4.7t₦5.2t₦1.4t4.1x3.5x0.9x
Wed, 05 Jul 2023₦4.7t₦4.9t₦1.2t4.4x4x1x
Fri, 02 Jun 2023₦3.7t₦4.4t₦1.1t3.4x3.3x0.8x
Price to Earnings Ratio

3.3x


Total Market Cap: ₦3.7tTotal Earnings: ₦1.1tTotal Revenue: ₦4.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Nigerian Diversified Banks Industry Price to Earnings3Y Average 2.4x202420252026
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 5.3x which is higher than its 3-year average PE of 2.4x.
  • The 3-year average PS ratio of 0.80x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 58% per year over the last three years.
  • Revenues for these companies have grown 50% 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 Market-0.56%
Financials0.91%
Banks0.46%
Diversified Banks0.46%
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
WEMABANK Wema Bank₦33.752.9%
+₦38.1b		153.8%PB2.2x
STERLINGNG Sterling Financial Holdings₦7.900.6%
+₦3.4b		39.3%PB1x
ZENITHBANK Zenith Bank₦132.000.04%
+₦2.1b		172.2%PB1.1x

Latest News

FIDELITYBK
₦21.60
Fidelity Bank
7D
-6.1%
1Y
16.8%
STERLINGNG
₦7.90
Sterling Financial Holdings
7D
0.6%
1Y
39.3%
FCMB
₦11.75
FCMB Group
7D
-1.3%
1Y
21.1%
Narrative Update • May 21

FCMB Group Plc Reports Strong FY 2025 Earnings Growth Driven by Balance Sheet Expansion and Improved Core Banking Performance

FCMB, REA and Partners Launch $188 Million Renewable Energy Financing Platform Author: Qudus Adebara First City Monument Bank (FCMB), in partnership with Barton Heyman Limited, the Rural Electrification Agency (REA), UK PACT, and other stakeholders, has launched a $188 million Green Finance Investment Facility (GFIF) aimed at financing 191 megawatts of distributed solar capacity across Nigeria. The blended finance platform is designed to mobilize large-scale private and institutional capital into Nigeria’s distributed renewable energy sector, with a particular focus on underserved households, rural communities, and businesses lacking reliable electricity access.
ACCESSCORP
₦24.60
Access Holdings
7D
-3.1%
1Y
11.8%
Narrative Update • May 21

Access Holdings Plc – Strategic Equity Restructuring of Foreign Banking Subsidiaries

Transaction Overview Analyst: Qudus Adebara (Research Analyst, DLM Securities) Access Holdings Plc (“Access Holdings” or “the Group”) has announced plans to reduce its equity stakes in certain foreign banking subsidiaries in response to new regulatory requirements introduced by the Central Bank of Nigeria (CBN). According to the Group Managing Director/CEO of Access Bank Plc, Mr. Roosevelt Ogbonna, the Group’s current exposure to foreign subsidiaries stands at approximately 19.4% of shareholders’ funds , above the newly imposed regulatory cap of 10%.
WEMABANK
₦33.75
Wema Bank
7D
2.9%
1Y
153.8%
Narrative Update • May 21

Wema Bank Plc Delivers Strong FY 2025 Performance with Robust Balance Sheet Expansion and Earnings Growth

Analyst: Qudus Adebara Executive Summary Wema Bank Plc delivered a strong financial performance for the year ended 31 December 2025 , reflecting solid balance sheet growth, resilient earnings momentum, and improved capital positioning. The Bank recorded Profit After Tax (PAT) of ₦193.2 billion , representing a 124% YoY increase from ₦86.3 billion in FY 2024, driven by strong net interest income growth, improved fee income, and effective cost management.
JAIZBANK
₦9.15
Jaiz Bank
7D
-0.5%
1Y
185.0%
Narrative Update • May 19

Jaiz Bank Plc Delivers Strong FY 2025 Profit Growth on Robust Financing & Investment Income

Analyst: Qudus Adebara Executive Summary Jaiz Bank Plc delivered a strong financial performance for the year ended 31 December 2025, supported by solid growth in financing and investment income, disciplined cost management, and balance sheet expansion. Gross earnings increased to ₦102.1 billion in FY 2025 from ₦82.9 billion in FY 2024, driven by higher income from financing contracts and investment activities, particularly Sukuk investments.
ZENITHBANK
₦132.00
Zenith Bank
7D
0.04%
1Y
172.2%
Narrative Update • May 19

ZENITHBANK: Upcoming Board Meeting Will Highlight Continuing Downside Pricing Risk

Analysts have trimmed their Zenith Bank price target to NGN72.01, reflecting updated views on a slightly lower revenue growth outlook, a somewhat higher profit margin, and a revised P/E assumption. What's in the News Zenith Bank has scheduled a board meeting for April 30, 2026, to review the group’s unaudited financial statements for the first quarter ending March 31, 2026, and to address other business matters (Key Developments).
FIRSTHOLDCO
₦67.50
First HoldCo
7D
-7.5%
1Y
162.1%
Narrative Update • May 14

Reports Sharp Earnings Decline in FY 2025 Amid Elevated Impairments, Trading Losses, and Rising Operating Costs Despite Strong Balance Sheet

Executive Summary Analyst: Qudus Adebara (Research Analyst) First HoldCo Plc delivered a significantly weaker financial performance for the year ended December 31, 2025, as elevated impairment charges, trading losses, and higher operating expenses offset strong growth in interest income and balance sheet expansion. Gross earnings remained resilient, supported by a 25% YoY increase in interest income to ₦2.99 trillion, driven by growth in customer lending and investment securities yields.
GTCO
₦140.00
Guaranty Trust Holding
7D
-3.9%
1Y
100.6%
Narrative Update • May 14

GTCO: Dividend Timetable And Margin Assumptions Will Shape Measured Future Upside

Analysts have raised their NGN fair value estimate for Guaranty Trust Holding from NGN131.83 to NGN162.00, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples. What's in the News Shareholders approved a final dividend for the 2025 financial year totaling NGN 429,830,699,084.64K, payable at NGN 11.76K per 50 Kobo ordinary share, bringing total dividend for 2025 to NGN 12.76K per ordinary share.
NPFMCRFBK
₦5.74
NPF Microfinance Bank
7D
-0.2%
1Y
141.2%
UBA
₦44.15
United Bank for Africa
7D
-1.8%
1Y
26.7%