United Bank for Africa (UBA), Zenith Bank and Access Corp are projected to deliver the strongest risk-adjusted returns among Tier-1 lenders in 2026, driven by capital appreciation and dividend strength.
This is according to analysts at CardinalStone Research in their latest “CardinalStone Banking Strategy Report,” published on Tuesday, February 10, 2026.
The report outlines projected total returns across major Nigerian banks, highlighting earnings recovery, valuation gaps and improving balance sheets as key drivers of performance, while also identifying underperformers within both Tier-1 and Tier-2 segments.
