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United Bank for Africa (UBA) Joins Elite N1 Trillion Market Cap Club on NGX.
At the close of trading on January 8, the United Bank for Africa reached a significant milestone as its share price surpassed N29.90, propelling the bank’s market capitalization to N1.02 trillion.
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With this achievement, they now join the exclusive category of companies known as SWOOTs (Stocks worth over one trillion Naira) on the Nigerian Exchange Group (NGX).
The SWOOT category comprises companies listed on the NGX with a market capitalization exceeding N1 trillion. Notable members of this elite group include MTN Nigeria, Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, GTCO Holdings, Zenith Bank, and Seplat Energy.
Interestingly, on December 6, 2023, First Bank of Nigeria Holdings (FBNH), the parent group of First Bank Limited, briefly entered the SWOOT category by crossing the N1 trillion mark.
However, it retraced below the threshold the following day. Similarly, Stanbic IBTC achieved the N1 trillion milestone in 2023.
The bank’s inclusion in the SWOOT category highlights the its strong market performance and its growing influence within the Nigerian financial landscape.
As part of this esteemed group, the bank now stands as one of the key players contributing to the overall dynamism of the NGX.
