From Dec 2022 (₦27.5) to Apr 2026 (₦138.5) · 36,363 shares
Past performance does not guarantee future returns.
Key milestones
1990
Guaranty Trust Bank founded
1996
Listed on NSE as GTBank
1998
Pioneered internet banking in Nigeria
2007
GTBank UK launched
2021
Holdco restructuring — GTCO Plc listed
2022
HabariPay (fintech) launched
2025
PAT crossed ₦1 trillion for first time
2026
Trading at 1.6x PE — among lowest globally for 40% growth
Dividend History
Year
Interim
Final
Total /share
Yield
2025
₦2
₦10
₦12
13.0%
2024
₦1
₦7
₦8
16.3%
2023
₦1
₦4
₦5
11.8%
2022
₦0
₦3
₦3
10.9%
2021
₦0
₦3
₦3
12.2%
Financial Highlights (₦ Billions)
Metric
2023
2024
2025
Revenue
₦1,088B
₦1,725B
₦2,300B
Net profit
₦435B
₦710B
₦1,000B
Profit margin
40.0%
41.2%
43.5%
EPS
₦14.76
₦24.1
₦33.95
Total assets
₦8,200B
₦12,400B
₦15,000B
ROE
30.0%
42.0%
48.0%
Why Lagosians care about GTCO
Guaranty Trust Holding Company (GTCO) is the parent of Guaranty Trust Bank — the bank where most young Lagos professionals open their first salary account. The orange GT app is ubiquitous on Lagos phones, and the bank's "Promise Made, Promise Kept" branding has built one of Nigeria's strongest brand equities.
For Lagos investors, GTCO matters because it's the most retail-popular bank stock on the NGX. Trading at 1.6x P/E with 40% earnings growth — analysts call it a "deep value anomaly." The 8% dividend yield is meaningful in a high-inflation environment.
The 2021 holdco restructuring (creating GTCO Plc as parent of GTBank, GT Pension Managers, GT Asset Management, and HabariPay fintech) gave the group flexibility to pursue non-banking growth. HabariPay (the fintech subsidiary) is positioning to compete with Flutterwave and Paystack for Nigerian payments market share.
About the company
Guaranty Trust Holding Company Plc (GTCO) is the holding company of Guaranty Trust Bank Limited and four subsidiaries: GT Pension Managers, GT Asset Management, GT Fund Managers, and HabariPay (fintech). The 2021 holdco restructuring created GTCO Plc as the listed parent, replacing the legacy GTBank Plc structure.
Founded in 1990, GTBank built its reputation on technology leadership and customer service. The bank pioneered internet banking in Nigeria (1998), launched mobile banking ahead of competitors, and consistently ranks #1 in customer experience surveys. Operations span Nigeria (75% of group revenue), Ghana, Kenya, Tanzania, Uganda, Côte d'Ivoire, Liberia, Sierra Leone, Gambia, and the United Kingdom.
GTCO posted revenue of ₦2.3 trillion and PAT of ₦1 trillion in 2025 — making GTCO Nigeria's second-most profitable bank after Zenith. ROE of 48% is among the highest in African banking. The 1.6x P/E reflects market concerns about banking sector recapitalization mandates rather than company-specific issues.
HabariPay, GTCO's fintech subsidiary, processed ₦4 trillion in transactions in 2025 — positioning it as a top-3 Nigerian payment platform. The fintech segment is a key growth driver as traditional banking margins compress.
Business segments
1.Banking — Guaranty Trust Bank (Nigeria + 9 African countries)
2.Asset Management (GT Asset, GT Fund Managers)
3.Pension (GT Pension Managers)
4.Fintech — HabariPay (payments)
📈 Bull case
Best-in-class bank brand and customer service. 1.6x PE with 40% earnings growth is a value anomaly. HabariPay fintech could re-rate the multiple. 8% dividend yield supports income investors. Pan-African footprint diversifies risk.
📉 Bear case
CBN recapitalization mandate may require equity raise. Banking sector broadly distressed (NPL concerns). Regulatory ceiling on net interest margins. Kenya/Ghana subsidiaries face FX volatility.
⚠Non-performing loan concerns across Nigerian banking
⚠Net interest margin compression
⚠African subsidiary FX risk
⚠Cyber security exposure given retail dominance
Trading activity — past 3 months
GTCO is among the top 5 most-traded financial stocks. GTCO traded 480 million shares in 220,000 deals worth ₦62 billion over the past three months. Volume spikes routinely on dividend announcement and quarterly results.
GTCO (Guaranty Trust Holding Co Plc) na trading at ₦138.5. Down 0.71% today, +55% YTD.
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Past performance is not indicative of future results. Stock prices can go down as well as up, and you may lose some or all of your investment. Always consult a licensed stockbroker or financial advisor before making investment decisions.
Data sourced from the Nigerian Exchange (NGX) and public corporate disclosures.