Nigeria’s banking stocks delivered divergent performances on the Nigerian Exchange (NGX) in 2025, with Wema Bank and Stanbic IBTC Holdings topping the list.
According to investing.com, share price data tracking movements between January 1st and December 16th, 2025, shows that Wema Bank topped the sector, with its stock gaining +63.9 percent, followed by Stanbic IBTC Holdings Plc with +63.1 percent and GTCO with +44 percent.
The banking sector has played a significant role in this strong performance, delivering robust returns in 2025.
Over the year, the banking index, a comprehensive measure of the Nigerian banking sector’s performance on the NGX, has yielded a return of 38.10 percent for investors.
Below is a breakdown of the best performers based on year-to-date (YtD) return (January to December 16, 2025), ranked from highest to lowest.
Wema Bank: +62.2% YtD
Wema Bank holds its position as the best performer with a +62.2 percent surge in share price to N18.4 from N11.2.
As at the end of trading yesterday, the bank’s value stood at N738 billion.
Stanbic IBTC: +63.04% YtD
Stanbic IBTC Holding was the second-best performer, recording a +63.04 percent YtD gain. The bank is the only listed financial company shares above N100 after it closed at N105.00 after trading on Thursday, December 16th.
The bank’s market value is N1.66 trillion.
Read also: Wema Bank: Longevity still carries weight with regulators
Guaranty Trust Holding (GTCO): +44% YtD
GTCO comes in third with a +44% YTD return for investors. Despite a daily loss of -1.00%, the share price remains high at N88 on Tuesday.
GTCO is the first financial company to have its shares sell above N100 on the NGX.
As of Tuesday, GTCO’s market value is N3.2 trillion.
Jaiz Bank: +36.5% YtD
Jaiz Bank posted a +36.5 percent increase in its share price, closing at M4.45.
Although its market capitalisation of N198 billion remains smaller relative to tier-one lenders, the strong rally reflected growing investor interest in the bank’s niche positioning and expanding non-interest banking footprint.
Zenith Bank Plc: +25.4% YTD
Zenith Bank recorded a solid +25.4 percent share price gain to N63.50 in 2025.
As one of Nigeria’s largest banks by market capitalisation of N2.6 trillion, the price appreciation further strengthened its valuation and reinforced its blue-chip status on the NGX.
Sterling Financial Holding Company: +20.6% YTD
Sterling Financial Holding Company saw its shares rise +20.6 percent to N7.1, reflecting a positive re-rating by investors.
The gain lifted its market capitalisation to N370 billion and signaled renewed confidence in the group’s restructuring efforts and focus on targeted growth sectors.
First Holdco Plc: +20.2% YTD
First Holdco recorded a +20.2 percent increase in share price to N36, translating into a moderate rise in market capitalisation to N1.5 trillion.
The performance reflected cautious optimism among investors as the group continued to stabilise operations and improve profitability following recent restructuring efforts.
Ecobank Transnational Incorporated (ETI): +20.1% YTD
Ecobank’s shares climbed +20.1 percent to N36.5, supporting a modest expansion in market capitalisation.
Investor sentiment was shaped by the group’s pan-African diversification, which provides earnings resilience but also exposes it to multiple currency and regulatory environments.
United Bank for Africa (UBA): +3.1% YTD
UBA posted a modest +3.1 percent gain, closing at N39.70. While the price movement was limited,
UBA remains one of the largest banks by market capitalisation on the NGX, supported by its extensive pan-African network and diversified earnings base.
Fidelity Bank Plc: -2.3% YTD
Fidelity Bank ended slightly lower yesterday, with its share price dipping 3.1 percent to N19. The decline weighed on its market capitalisation, reflecting investor caution despite improvements in operational performance and asset quality.
FCMB Group Plc: -5% YTD
FCMB Group closed 2025 at N10.6, marginally below its opening price of N11.05. Although the group made progress operationally, this was not fully reflected in its NGX valuation, leaving its market capitalisation flat over the year.
Access Holdings Plc: -23% YTD
Access Holdings recorded the steepest decline among banking stocks, with its share price falling 23 percent to N20. The drop reduced its market capitalisation, despite the group remaining one of the largest financial institutions in Nigeria by assets.
