According to capital market analysts, the stock price of
Zenith Bank in the last 10 years has never outpaced GTCO.
The stock price of Zenith Bank since the beginning of 2022
maintained a positive trajectory, gaining 1.39per cent in 7-day active trading
on the bourse to close Thursday at N25.50 from the N25.15 it opened for
trading.
On the other hand, GTCO depreciated by 2.1 per cent to close
yesterday at N25.45, from the N26 the stock market price opened this year.
The stock price of GTCO over the years traded higher than
GTCO on the bourse.
According to capital market analysts, the anticipation of a
robust dividend for 2021 financial year and the strong fundamentals of Zenith
Bank had been attracting investors.
The Vice Chairman, Vice president, Mr. David Adnori said
investors were losing confidence in GTCO stock over the lender’s legal tussle
with Chairman of Innoson Group, Innocent Chukwuma.
A capital market analyst, Mr. Rotimi Fakeyejo said the
GTCO’s reported weak nine months unaudited result and accounts for September
30, 2021.
According to him: “Records in the last five years have shown
that Pension Fund Administrators and foreign investors are always sceptical
about investing in Holdings structure.”
Zenith Bank’s total market capitalisation stood at N789.622
billion as at December 31, 2021, as it led the banking sector on the NGX. The
bank’s share price gained one per cent to close 2021 at N25.15 in 2021. Zenith
Bank in its unaudited results for the nine months period ended September 30,
2021, posted a profit before tax (PBT) of N180 billion.
This represented a one per cent growth over the N177 billion
recorded in the same period the previous year, amidst a challenging
macroeconomic environment exacerbated by the Coronavirus (COVID-19) pandemic.