Zenith Bank Plc recorded a slight gain on the Nigerian Exchange (NGX), pushing its market value close to N3 trillion, as investors reacted to the lender’s expanding footprint and growing acquisition strategy across Africa.
Newsonspot reports that the bank’s share price closed at N71 per share, after trading within a weekly range of N69.55 (one-week low) and N72 (midweek high). Market activity was supported by heavy trading volume and block transactions, reflecting portfolio reshuffling ahead of the bank’s expected fourth quarter 2025 earnings release.
With 41.069 billion outstanding shares, Zenith Bank’s market capitalisation rose to approximately N2.92 trillion, placing it near its strongest valuation level within the last 12 months.
Trading records also showed significant price movement over the past year. Zenith Bank had earlier hit a 52-week low, creating strong capital appreciation for investors who accumulated shares around N43. The stock later climbed to a 52-week high of N78.50, before easing to N60 late last year.
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Meanwhile, Afrinvest Limited has set a 12-month target price of N96.38 for Zenith Bank, projecting an estimated 38% upside potential from a reference price of N69.85 on the local bourse.
Analysts have continued to rate the bank’s earnings as one of the strongest in Nigeria’s banking sector, describing Zenith Bank as a proven dividend performer with consistent year-on-year growth across key investor indicators.
The bank’s recent expansion into Kenya is also being viewed as a positive signal for future earnings. This follows the approval granted by the Competition Authority of Kenya (CAK) for Zenith Bank’s proposed acquisition of 100% of Paramount Bank Limited, subject to conditions aimed at protecting employment.
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In its January 22 notice, the CAK stated that the deal is not expected to significantly reduce competition in Kenya’s banking sector, while any potential job-related concerns can be managed through mitigating measures. The regulator also confirmed that the transaction met the legal threshold for mandatory notification and full review under Kenya’s Competition Act.
As of December 2024, Kenya had 39 licensed banks, made up of 9 Tier I, 9 Tier II, and 21 Tier III institutions. Paramount Bank was classified as a Tier III bank, ranking 33rd out of 39.
