…Lafarge, Stanbic make list
United Bank for Africa (UBA) has cemented its position among Nigeria’s elite financial giants, crossing the billion-dollar valuation mark on the heels of a sustained stock market rally. Fueled by strong investor confidence and robust financial fundamentals, UBA’s market capitalization soared past the milestone, signaling renewed bullish sentiment in the banking sector and reaffirming the bank’s growing dominance in the African financial landscape.
To this end, United Bank for Africa (UBA) has become the third Nigerian bank to be valued at a billion dollar or more as its stock price continues its rapid advance on the NGX.
UBA closed trading at N45.85 per share on Monday and its stock is up 34.85% year-to-date for a market capitalization of N1.882 trillion ($1.2 billion).
The stock has a one-year return of 135.7%. The NGX all share index is up 28% year-to-date by comparison.
Before now only Guaranty Trust Holding Company (GTCO) and Zenith bank had a market capitalization that exceeded $1 billion.
The UBA Group recently announced a commitment to further expand its coverage across high potential markets across Africa, while also deepening its operations in its existing presence in twenty African markets.
Meanwhile Lafarge Africa and Stanbic IBTC have also joined the list of billion dollar companies after soaring share prices.
Lafarge Africa is valued at N1.869 trillion ($1.21 billion), while Stanbic IBTC is valued at N1.58 trillion ($1.02 billion), as at Monday July 21.
An exchange rate of USD1 to NGN1,535 was used for the conversion from naira to dollar.
Lafarge Africa delivered stellar results for the Half Year (H1) 2025 period, with profit after tax surging 352% to N132.67 billion, while net sales hit N517 billion.
MoneyCentral had earlier identified 12 Nigerian listed companies on the stock exchange (NGX) worth a billion dollar or more in market capitalization.
The new addition brings the list of billion dollar companies to 15.
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