By Ayomide Otitoju
Zenith Bank Plc recorded a modest gain on the Nigerian Exchange (NGX) as investors responded positively to the lender’s acquisition strategy, with its market value approaching N3 trillion. The bank’s share price settled at N71 per share, reflecting fluctuations tied to portfolio adjustments ahead of its Q4 2025 earnings release.
During the week, Zenith Bank traded between a low of N69.55 and a midweek high of N72, driven by heavy block transactions, amid expectations that the group will continue expanding its footprint across Africa. The market value of its 41.069 billion outstanding shares rose to about N2.92 trillion, approaching its 12-month peak.
Investors who bought at N43 have seen significant capital appreciation, with the stock previously hitting a 52-week high of N78.50 before easing to N60 late last year. Afrinvest Limited has set a 12-month target price for Zenith Bank at N96.38, implying a 38% upside from the recent NGX reference price of N69.85.
Zenith Bank remains a top performer in the Nigerian banking sector, with consistent earnings growth and a proven dividend track record. Analysts have highlighted the bank’s recent expansion into Kenya as a potential earnings booster.
Last week, the Competition Authority of Kenya (CAK) approved Zenith Bank’s proposed acquisition of 100% of Paramount Bank Limited, subject to conditions to protect employment. The CAK noted that the deal is unlikely to substantially reduce competition in Kenya’s banking sector and that potential negative impacts on jobs can be mitigated. Paramount Bank, a Tier III lender, ranked 33rd out of 39 licensed banks in Kenya as of December 2024.
Analysts from Broadstreet have described Zenith’s move into Kenya as a strategic growth opportunity, suggesting that the bank may continue seeking acquisitions to strengthen its African presence.
