Breaking: UBA Surpasses N1 trillion market capitalization

United Bank for Africa became the newest member of the SWOOT category on January 8th, when its share price reached N29.90 at the close of trade, bringing the bank’s market capitalization to N1.02 trillion.

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SWOOTs (stocks worth over one trillion Naira) are companies with a market capitalization of more than N1 trillion on the NGX. MTN Nigeria, Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, GTCO Holdings, Zenith Bank, and Seplat Energy are among the category’s current members

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On December 6, 2023, FBNH, the parent group of First Bank Limited also crossed the N1 trillion mark, however, it dropped back the next day. Stanbic IBTC also crossed the N1 trillion mark in 2023.