This significant achievement unfolded at the conclusion of Monday’s trading session, propelling the bank’s market capitalization to an impressive N1.02 trillion. This accomplishment positions UBA as the third most capitalized financial institution in the country, marking a remarkable surge from its starting point at N283.8 billion at the beginning of 2023. The bank currently has 34.19 billion shares in circulation.
The attainment of the N1 trillion market capitalization milestone coincides with UBA’s shares being hailed as the top-performing stock in the banking sector for the entirety of 2023, a testament to its robust growth trajectory and unwavering market confidence.
Notably, from the commencement of January 2023 until the present, UBA shares have witnessed an extraordinary appreciation of over 250 percent, soaring from N7.60 per share to the current value, as highlighted in a statement released by the bank.
Renowned Nigerian economist and philanthropist, Anthony Onyemaechi Elumelu CFR, who chairs Heirs Holdings, Transcorp, and UBA, while also being the founder of The Tony Elumelu Foundation, provided insights into the impressive performance. He commented that the bank’s remarkable journey throughout 2023 culminated in its shares being acclaimed as the highest-performing stock within the banking sector. This success solidifies UBA’s standing as a powerhouse in the financial landscape, marking a significant stride in the dynamic leadership of Tony Elumelu.
