UBA Surpasses N1trn Market Capitalisation Threshold as Share Price Hits N29.90 

* Emerges best performing banking stock in 2023, Elumelu hails feat

James Emejo in Abuja 

Africa’s global bank, United Bank for Africa (UBA) Plc, Monday joined the elite group of companies with market capitalisation of over N1 trillion as its share price value hits N29.90.

At the close of trading on Monday, the bank’s market capitalisation hit N1.02 trillion,  making it the third most capitalised financial institution in the country — a remarkable boost from N283.8 billion at the beginning of  2023. The bank has 34.19 billion shares in issue.

The N1 trillion market capitalisation feat comes amid the bank’s share being named as the highest performing stock in the banking sector in 2023, which underscored its robust growth trajectory and unwavering market confidence.

Specifically, between the start of January 2023 and till Monday, the price of UBA shares had appreciated by over 250 per cent from N7.60 per share, the bank noted in a statement.

Commenting on the bank’s impressive performance, the Chairman, UBA Group, Tony Elumelu, said that the bank’s remarkable journey in 2023 culminated in its shares being acclaimed as the highest performing stock within the banking sector.

Details Later…