Wema Bank Stock Gains 340% in 6 months

The NGX Banking index is designed to provide an investable benchmark to capture the performance of the banking sector, which comprises the most capitalized and liquid companies in banking. The NGX Banking Index comprises 10 companies.

As of close of business on June 17, 2022, the NGXASI YtD return dipped by 14.03% to +20.28% from +23.59% on June 10 2022. But in terms of its 1-year return, the Index has gained 34.09%.

On the other hand, the NGX Banking Index has lost -0.88% year-to-date and has a 1-yr return of 11.67%.

From the banks’ released Q1 2022 financial statements, the banks combined net loans and total deposits as at March 31, 2022, stood at N20.974 trillion and N30.008 trillion respectively with Ecobank Transnational topping; accounting for 26.42% of total deposit and 22.81% of net loans.

In terms of total assets and total equity, the 10 banks have combined total assets of N50.914 trillion and total equity of N4.574 trillion as at March 2022 with Access Holdings topping, accounting for 23.0% of the combined total assets and 22.96% of the combined total equity.

WEMA BANK +340%

In terms of year-to-date performance, top on the list is Wema Bank Plc. Wema Bank closed its last trading day (Monday, June 20, 2022) at N3.17 per share on the NGX.  It began the year with a share price of N0.72 and has since gained 340% on that price valuation, ranking it 1st on the NGX Banking and second on the NGX equity market.

In addition, shareholders can be more optimistic about Wema Bank knowing the stock has an outstanding 1-yr return of 476%, the 1st on the NGX Banking in terms of 1-yr performance.

Wema Bank is the 35th most traded stock on the NGX over the past three months (March 17 – June 20, 2022).  It traded a total volume of 131 million shares in 3,338 deals, valued at N421 million over the period.

In terms of dividend payment (year 2021) Wema Bank Plc is 5th on the Banking Index companies with a dividend payment of N0.24 for 2021 financial year and a dividend yield of 7.56%.

Wema Bank is the 38th most valuable stock on the NGX with a market capitalization of N40.8 billion, which is about 0.149% of the NGX equity market.