Bank stocks underperform in NGX wealth creation race

•Lag by 16 points
Nigeria’s banking stocks have emerged as one of the biggest laggards in the 2026 equities rally, underperforming the broader market despite strong earnings growth from the country’s leading lenders.
The NGX Banking Index has gained 35.77 per cent year-to-date, trailing the benchmark NGX All-Share Index (ASI) by about 16 percentage points, as investors shifted attention towards sectors delivering stronger price appreciation.
This underperformance represents a notable reversal for a sector that traditionally drives activity on the Nigerian Exchange (NGX), accounts for a significant share of market capitalisation and remains a major component of domestic and foreign ...