Ecobank Transnational Incorporated (ETI) has joined the elite league of trillion-naira companies on the Nigerian Exchange Limited (NGX), marking its first entry into the club in over 20 years of being listed on the bourse.
The Pan-African lender crossed the N1 trillion valuation mark on Monday, January 5, 2026, as sustained buying interest pushed its market capitalisation higher. As at the close of trading on Monday, January 12, ETI’s share price rose to N45, representing a 7.4 per cent gain within the period and a 23 per cent appreciation over the last four weeks, ranking it among the best-performing stocks on the Exchange.
Market data from African Stock Exchange, a market analytics platform, shows that Ecobank Transnational Incorporated is now the 23rd most valuable listed stock on the NGX, with a market capitalisation of about N1.07 trillion, accounting for roughly 1.02 per cent of the total equity market.
Analysts link the milestone to improved investor sentiment following the bank’s early repayment of $245 million from its $300 million Eurobond, ahead of the February 2026 maturity date. The move is seen as a strong signal of balance sheet strength and prudent financial management.
ETI’s shares had rallied by about 61 per cent in the past year, rebounding from the sell-off that pressured the stock in 2025, as confidence gradually returned to the banking name.
The development comes amid a broader rally in Nigerian banking stocks, with more lenders crossing the N1 trillion market capitalisation threshold, reflecting renewed investor confidence in the sector currently undergoing recapitalisation.
GTCO remains the most capitalised banking stock on the NGX, with a valuation of N3.62 trillion as of January 12. It is followed by Zenith Bank at N2.75 trillion, First Bank of Nigeria Holdings at N2.16 trillion, United Bank for Africa at N1.94 trillion, Access Bank at N1.23 trillion, and Stanbic IBTC at N1.7 trillion. With its latest feat, Ecobank now joins this group of top-tier lenders in the trillion-naira bracket.
Fidelity Bank had earlier crossed the N1 trillion mark on April 4, 2025, becoming the first tier-2 bank to achieve the milestone, but later slipped below the threshold following a Supreme Court ruling that impacted its share price. Its current valuation stands at about N957 billion.
Overall, the number of listed companies with a market capitalisation of at least N1 trillion has risen to 24, up from 17 recorded a year ago, according to NGX data.
Leading the pack are BUA Foods with a market value of N14.38 trillion, MTN Nigeria Communications at N12.70 trillion, Dangote Cement at N10.71 trillion, Airtel Africa at N8.53 trillion, and BUA Cement at N6.2 trillion.
