Zenith, United Bank for Africa, FBN Holdings and seven other top firms have emerged on the top ten list of companies with the highest shareholders equity in the first half of 2023, according to BusinessDay analysis.
BusinessDay ranking of the Top 30 publicly listed firms known as ‘NGX30’ reveals that Zenith Bank, UBA, FBN Holdings, Seplat Energy, Ecobank, GTCO, BUA Cement, Stanbic IBTC, Lafarge Africa and Fidelity Bank recorded the highest shareholders equity in H1 2023.
Shareholders’ equity represents the net worth of a company, which is the naira amount that would be returned to shareholders if a company’s total assets were liquidated, and all of its debts were repaid.
Here are top 10 firms with the highest shareholders’ equity:
ZENITH BANK
Zenith Bank’s shareholders equity rose to N1.78 trillion in H1 2023 from N 1.27 trillion in the similar period of 2022.
The bank’s total shareholders’ equity was driven by retained earnings of N784.38 billion, other reserves at N725.75 billion, share premium(N255.05 billion), share capital(N15.7 billion), and non-controlling interest at N1.11 billion.
Earnings per share stood at N9.29 per share in H1 2023 from N3.55 per share in the same period of 2022.
Zenith Bank Plc is a large financial service provider in Nigeria and Anglophone West Africa, headquartered in Victoria Island, Lagos. It is licensed as a commercial bank by the Central Bank of Nigeria, the national banking regulator.
Read also: Here are 10 Nigerian companies with highest earnings per share
UNITED BANK FOR AFRICA (UBA)
United Bank for Africa’s shareholders equity increased to N1.66 trillion in H1 2023 from N757.22 billion in the same period of 2022.
The bank’s total shareholders’ equity was driven by other reserves at N862.57 billion, retained earnings (N683.02 billion), share premium(N98.72 billion), non-controlling interests(N50.96 billion) and share capital(N17.1 billion).
Earnings per share stood at N10.95 per share in H1 2023 from N1.98 per share in the same period of 2022.
United Bank for Africa Plc (UBA) is a Multinational pan-African financial services group headquartered in Lagos Island, Lagos, and known as Africa’s Global Bank. It has subsidiaries in 20 African countries and offices in London, Paris, and New York.
FBN HOLDINGS
FBN Holdings shareholder’s equity grew to N1.38 trillion in H1 2023 from N886.74 billion in the same period of 2022.
The holding company shareholders’ equity was driven by retained earnings which stood at N580.1 billion, share premium at N233.39 billion, foreign currency translation reserve(N210.16 billion), and statutory reserve(N159.31 billion).
Also, fair value reserve stood at N136.96 billion, regulatory risk reserve at N21.4 billion, share capital (N17.95 billion), non-controlling interest at N12.97 billion) and SME investment reserve at N6.08 billion.
Earning per share stood at N5.19 per share in H1 2023 from N1.55 per share in the same period of 2022.
FBN Holdings Plc. is a Nigeria-based diversified financial services company. The principal activities of the Company are mainly the provision of commercial banking services, investment banking services, and provision of other financial services and corporate banking.
Read also: Nigeria’s downstream firms lose 87% of H1 revenue to input costs
SEPLAT ENERGY
Seplat Energy shareholders equity stood at N1.34 trillion in H1 2023 from N732.5 billion in the same period of 2022.
The firm’s shareholders’ equity was driven by foreign currency translation reserve which stood at N990.95 billion, retained earnings (N232.08 billion), share premium(N92.47 billion) and non-controlling interest(N16.94 billion),
Similarly, capital contribution amounted to N5.93 billion), share-based payment reserve(5.84 billion), and issued share capital (N311 million).
Earnings per share stood at N37.60 per share from N58.19 per share in the period reviewed.
Seplat Energy is a Nigerian independent oil and gas company listed on both the London and Nigerian Stock Exchanges with assets in the Niger Delta.
ECOBANK
Ecobank shareholders’ equity increased to N1.33 trillion in H1 2023 from N823.24 billion in the similar period of 2022.
The bank’s shareholder equity was driven by retained earnings and reserves of N523.3 billion, non-controlling interests which stood at N425.7 billion, share capital and premium (N353.51 billion), and other equity instrument holders (N31.42 billion).
Earnings per share stood at N3.19 per share from N2.20 per share in the period reviewed.
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 33 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers.
Read also: Meet Nigeria’s 7 most profitable firms in H1 2023
GUARANTY TRUST HOLDING COMPANY (GTCO)
GTCO shareholders’ equity grew to N1.2 trillion in H1 2023 from N845.69 billion in the same period of 2022.
The holding’s company shareholder equity was driven by other components of equity which stood at N685.56 billion, retained earnings (N360.68 billion), share premium(N123.47 billion), non-controlling interests in equity(N24.21 billion) and share capital(N14.72 billion).
Earnings per share stood at N9.94 per share from N2.70 per share in the period reviewed.
Guaranty Trust Holding Company PLC also known as GTCO PLC is a multinational financial services group, that offers retail and investment banking, pension management, asset management and payments services, headquartered in Victoria Island, Lagos, Nigeria.
BUA CEMENT
BUA Cement shareholders’ equity surged to N474.73 billion in H1 2023 from N 459.48 billion in the same period of 2022.
The cement maker’s shareholder equity was driven by retained earnings of N258.5 billion, reorganisation reserve (N200 billion), and share capital (N16.93 billion).
Basic earnings per share stood at N1.88 per share from N1.81 per share in the period reviewed.
BUA Cement Plc is the result of a merger between CCNN Plc and Obu Cement Company Plc (formerly Obu Cement Company Limited). Cement Company of Northern Nigeria (CCNN) was incorporated in 1962 and commenced operations in 1967, with an installed capacity of 100,000 mtpa at Kalambaina, Sokoto State.
Read also: Here are Nigeria’s top seven trillionaire market cap companies
STANBIC IBTC HOLDINGS
Stanbic IBTC Holdings shareholders’ equity increased to N451 billion in H1 2023 from N378 billion in the same period of 2022.
The holding company’s shareholder equity was driven by reserves which stood at N333.99 billion, share premium (N102.78 billion), non-controlling interest(N7.93 billion), and ordinary share capital (N6.48 billion).
Earnings per share stood at N5.12 per share from N2.26 per share in the period reviewed.
Stanbic IBTC Holdings, commonly referred to as Stanbic IBTC, is a financial service holding company in Nigeria with subsidiaries in Banking, Stock Brokerage, Investment Advisory, Asset Management, Investor Services, Pension Management, Trustees Insurance Brokerage and life Insurance businesses.
LAFARGE AFRICA
Lafarge Africa shareholders’ equity grew to N419 billion in H1 2023 from N400 billion in the same period of 2022.
The firm’s shareholder equity was driven by N435.15 billion, retained earnings(N230.29 billion), and share capital(N8.05 billion).
Earnings per share stood at N2.20 billion per share from N2.32 billion per share in the comparable period.
Lafarge Africa Plc is a cement manufacturer headquartered in Lagos and quoted on the Nigerian Stock Exchange. It is majorly controlled by the Holcim Group.
FIDELITY BANK
Fidelity Bank’s shareholders’ equity increased to N402.6 billion in H1 2023 from N311.73 billion in the same period of 2022.
The bank’s shareholders’ equity was driven by share premium which amounted to N113.71 billion, non-distributable regulatory reserve(N89.38 billion), statutory reserve (N60.65 billion), fair value reserve(N55.11 billion), retained earnings(N54.44 billion), share capital (N16 billion), AGSMEIS reserve (N12.55 billion) and small scale investment reserve (N764 million).
Earnings per share stood at N1.94 per share from N0.80 per share in the period reviewed.
Fidelity Bank, also known as Fidelity Bank Plc., is a commercial bank in Nigeria headquartered in Victoria Island, Lagos. It is licensed as a commercial bank with international authorization, by the Central Bank of Nigeria (CBN), the central bank and national banking regulator.
