By Niyi Jacobs
In the latest performance report for Tier 2 banks, Wema Bank emerged as the top performer with an impressive year-to-date (YTD) return of 54.46%. This contrasts sharply with the negative returns recorded by Sterling Bank and Stanbic IBTC, which posted YTD losses of -27.80% and -22.47%, respectively.
Fidelity Bank and FCMB also reported positive returns, reflecting the resilience of certain Tier 2 banks despite challenging market conditions. The disparity in performance underscores differing strategies, market positions, and investor confidence among these financial institutions.
Analysts point to Wema Bank’s strong market execution and innovation as key drivers of its standout performance. Meanwhile, the negative returns for Sterling and Stanbic IBTC highlight areas requiring strategic realignment to regain investor trust.
The mixed outcomes across Tier 2 banks suggest a dynamic market landscape, with opportunities and risks varying significantly among players.
