Guaranty Trust Holding Company (GTCO) has made history as the first publicly listed financial institution in Nigeria to surpass the ₦100 per share milestone on the Nigerian Exchange Limited (NGX).
On Wednesday, GTCO’s stock closed at ₦101.00 per share, marking a 7.62% increase from its opening price of ₦93.85. This surge reflects growing investor confidence, with the market continuing to position GTCO as Nigeria’s most profitable bank.
The company’s stock has appreciated by 7.3% this week alone, buoyed by its recent dual listing of over 2.28 billion ordinary shares on both the NGX and the London Stock Exchange (LSE). Year-to-date, GTCO has delivered a remarkable 57% return, rising from ₦57.00 per share at the end of 2024 to its current level.
The rally is largely attributed to strong Q1 2025 earnings, which saw a profit before tax of ₦300.4 billion, and investor optimism surrounding a potential interim dividend payout for H1 2025. Month-to-date, the stock has gained over 27%, climbing from ₦81.25 per share.
GTCO’s trading journey in 2025 began with a January opening price of ₦57.00, closing the month at ₦61.05 after trading 393 million shares. While February saw minimal growth, March delivered a robust 12.4% gain, lifting Q1 performance to 20.7%. April was the only month of decline, with a 4.9% dip.
The bank’s compliance with Central Bank of Nigeria (CBN) regulations—particularly its exit from regulatory forbearance—has further strengthened its market position. In June, the CBN imposed restrictions on banks under forbearance, including suspensions on dividends and FX investments.
GTCO’s dual listing strategy, including the July 9 admission of 2.29 billion shares on the LSE and a subsequent NGX listing the next day, has enhanced its global visibility and investor appeal. Group CEO Segun Agbaje reaffirmed the company’s commitment to delivering a minimum 15% dividend yield and a 25% return on equity, underscoring confidence in GTCO’s long-term growth trajectory.2
