At the close of trading on January 8, the share price of United Bank for Africa crossed N29.90, taking the bank’s market capitalization to N1.02 trillion, making the bank the latest member of the SWOOT category.
Companies with over N1 trillion market cap in the NGX are categorized as SWOOTs (Stocks worth over one trillion Naira). Current members of the category include MTN Nigeria, Airtel Africa, Dangote Cement, BUA Foods, BUA Cement, GTCO Holdings, Zenith Bank, and Seplat Energy.
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.
Details later….
