ETI, Jaiz, FCMB outperform other banking stocks year-to-date

Investors in Nigeria’s equities market who took positions in most banking stocks are reaping impressive returns year-to-date (YtD).

Chief amongst them are investors who are holding till date counters like Ecobank Transnational Incorporated (ETI) Plc, Jaiz Bank Plc, FCMB Group and Fidelity Bank Plc that have outperformed the market.

As at Monday, March 14, the market recorded positive return year-to-date (YtD) of 11.03percent; while month-to-date (MtD), the market has risen by 0.07percent.

At N11.80 per share as at Monday, ETI Plc led the pack of banking stocks, yielding return of 35.6 percent year-to-date; followed by Jaiz Bank Plc which at 72kobo per share also recorded positive returns of 28.6percent.

Others are FCMB Group and Fidelity which have respectively performed well this year at (N3.60 or +20.4percent) and (N2.85 or +11.8percent).

Others are: Access Bank Plc which at N10.25 per share has recorded positive return of 10.2percent year-to-date; FBN Holdings (N11.60 or +1.8percent); GTCO (N26.70 or +2.7percent); Sterling Bank (N1.53 or +1.3percent); UBA (N8.70 or +8.1percent); Union Bank (N6.25 or +5.9percent); and Zenith Bank (N27 or + 7.4percent).

At N34.50 per share as at Monday, March 14, Stanbic IBTC is lagging behind other banking stocks, recording negative return of 4.2percent, followed by Unity Bank Plc which has decreased this year by 7.4percent to 50kobo.

Eniola Olatunji

Eniola Olatunji is an experienced journalist at BusinessDay, where she has specialized in reporting on personal and business finance since March 2022. She focuses on creating engaging and precise news stories, with a keen emphasis on the fixed-income market, banking, personal finance, cost of living, and the Nigerian economy. Her work also encompasses extensive market research and economic trend analysis. Eniola is passionate about empowering individuals to make informed financial decisions and is dedicated to shedding light on the intricate workings of the economy. She holds a Bachelor of Science degree in Pure & Applied Chemistry from the University of Lagos. Eniola Olatunji was shortlisted for The Future Awards Africa Prize for Journalism..