Get all the latest information on businesses and companies in Nigerian Stock Exchange.
In: companyanalysis
27 Feb 2009The chart below compares the January 2009 valuation of the major banks stock to January 2008′s. It is clear that the bank stocks have performed very badly:
| Banks | Market Capitalization | Market Capitalization | %age Decline |
| as at Jan 2008 | as at Jan 2009 | ||
| First Bank | NGN 807,679,911,680 | NGN 355,550,619,280 | -127% |
| Zenith Bank | NGN 530,911,340,926 | NGN 201,851,050,500 | -163% |
| Wema Bank | NGN 170,400,000,000 | NGN 162,334,400,000 | -5% |
| UBA | NGN 432,150,325,000 | NGN 145,431,012,500 | -197% |
| Oceanic Bank | NGN 314,663,751,594 | NGN 134,299,400,000 | -134% |
| Union Bank | NGN 415,038,070,040 | NGN 132,125,110,506 | -214% |
| PHB | NGN 433,220,211,190 | NGN 124,960,962,800 | -247% |
| Intercontinental | NGN 775,086,110,540 | NGN 112,511,076,300 | -589% |
| IBTC | NGN 411,720,000,000 | NGN 103,547,500,000 | -298% |
| Fidelity | NGN 184,393,283,200 | NGN 97,314,624,960 | -89% |
| Afribank | NGN 159,383,120,000 | NGN 85,093,010,100 | -87% |
| FCMB | NGN 373,777,200,000 | NGN 82,917,000,000 | -351% |
| Access Bank | NGN 172,755,876,692 | NGN 61,278,072,000 | -182% |
| Unity Bank | NGN 243,300,000,000 | NGN 53,400,000,000 | -356% |
| Skye Bank | NGN 126,351,277,800 | NGN 39,852,296,800 | -217% |
Intercontinental, Unity, FCMB, IBTC, and PHB have been the worst performers.
Below is the performance in Dollar terms. I attempted to compare the Jan 2008 valuation based on Naira valuation of $1:N120 to January 2009 at $1:N140 and here are the results:
| Banks | Market Capitalization | Market Capitalization | %age Decline |
| as at Jan 2008 | as at Jan 2009 | ||
| Intercontinental | $6,459,050,921 | $803,650,545 | -88% |
| Unity Bank | $2,027,500,000 | $381,428,571 | -81% |
| FCMB | $3,114,810,000 | $592,264,286 | -81% |
| IBTC | $3,431,000,000 | $739,625,000 | -78% |
| PHB | $3,610,168,427 | $892,578,306 | -75% |
| Skye Bank | $1,052,927,315 | $284,659,263 | -73% |
| Union Bank | $3,458,650,584 | $943,750,789 | -73% |
| UBA | $3,601,252,708 | $1,038,792,946 | -71% |
| Access Bank | $1,439,632,306 | $437,700,514 | -70% |
| Zenith Bank | $4,424,261,174 | $1,441,793,218 | -67% |
| Oceanic Bank | $2,622,197,930 | $959,281,429 | -63% |
| First Bank | $6,730,665,931 | $2,539,647,281 | -62% |
| Fidelity | $1,536,610,693 | $695,104,464 | -55% |
| Afribank | $1,328,192,667 | $607,807,215 | -54% |
| Wema Bank | $1,420,000,000 | $1,159,531,429 | -18% |
This blog is dedicated to informing users on the latest business and economic news news from the CBN and Nigerian Stock Exchange. Happy reading!