LAGOS, Nigeria — Zenith Bank Plc has become the first Nigerian financial institution to surpass the N5 trillion market capitalisation threshold, reinforcing its position as the country’s most valuable banking group following a sustained rally in its shares.
Okay News reports that data from the Nigerian Exchange Limited (NGX) showed the pan-African banking group’s shares rose by 0.9 percent to N124 at the close of trading on Wednesday, pushing its market capitalisation to N5.09 trillion from N4.72 trillion.
The bank has since extended its gains, with market capitalisation reaching N5.22 trillion and a share price of N127 as of Monday. The milestone places Zenith ahead of Guaranty Trust Holding Company (GTCO) , whose market value stood at N4.75 trillion, although GTCO’s share price remained higher at N129.9.
Zenith recently reaffirmed its position as Nigeria’s most profitable bank, reporting a profit after tax of N1.04 trillion for the previous year, up from N1.03 trillion in 2024. Net interest income rose by 53 percent to N2.64 trillion, while customer deposits increased to N24.33 trillion from N21.96 trillion. Loans and advances expanded to N10.45 trillion from N9.96 trillion.
Investor sentiment has also been buoyed by the bank’s plans to deepen its international footprint through a potential listing on the London Stock Exchange (LSE) by 2027. The move is expected to broaden access to global capital and enhance competitiveness in cross-border banking.
In July 2025, GTCO became the first Nigerian bank to list on the LSE, raising approximately $105 million.
Zenith Bank said the proposed listing forms part of a broader strategy to strengthen its global presence. The bank already maintains an international investor base through its Global Depository Receipts (GDRs) , which have been listed on the London market since 2013 under the ticker ZENB.L.
The listing plans coincide with the expansion of Zenith’s United Kingdom operations, including the opening of a new branch in Manchester, its first outside London. The branch is expected to create about 30 direct jobs and will focus on corporate banking, trade finance, and treasury services for businesses operating along the UK-Africa trade corridor.
Adaora Umeoji, group managing director and chief executive officer of Zenith Bank, said the Manchester expansion aligns with the bank’s long-term strategy to strengthen its global footprint. She noted that the United Kingdom remains a critical financial hub for deepening client relationships and facilitating trade flows between African and European markets.
