GTCO becomes first bank to cross N100/share mark on Nigerian Exchange

GTBank’s parent company, Guaranty Trust Holding Company (GTCO), has set a significant record in the Nigerian Stock Exchange (NGX) by surpassing the N100 mark during the trading session of July 16, 2025. The milestone has now made GTCO the first banking stock under the NGX to surpass the N100 mark.

According to experts, the achievement is attributed to positive market reaction following its London listing and recording a strong financial statement. With its stock gaining more than 27% in the last months, it has now passed Stanbic IBTC Holdings, which is second at around N99.

Recall that GTCO recently set an impressive precedent, becoming the first Nigerian bank to be listed on the London Stock Exchange (LSE), backed by a plan to raise $100 million (approximately N154 billion) through a fully marketed equity offering. 

The Group explained that the offering is structured to support the recapitalisation of its Nigerian banking subsidiary, GTBank Nigeria, to meet the Central Bank of Nigeria’s (CBN) new minimum capital requirement of N500 billion for international commercial banks.

“The net proceeds of this offering will be used primarily for the further recapitalisation of GTBank Nigeria and are intended to be deployed in accordance with GTCO’s growth strategy,” the company said.

In its financial statement for 2024, GTCO recorded the highest-ever profit in its history after announcing a profit after tax of N1.017 trillion in 2024, representing an 88.4% surge from the N539.6 billion recorded in 2023

Also Read: GTCO set to list on London Stock Exchange and raise $100M in equity offering.

GTCO listing on the London Stock Exchange 

Following its listing on the London Stock Exchange on July 9, 2025,   GTCO saw 2.29 billion ordinary shares admitted to trading, where its entire issued share capital, including 36,425,229,514 shares, was admitted to the equity shares category of the Official List of the United Kingdom Financial Conduct Authority. The company has disclosed that its shares will trade under the name GTHC and plans to change to GTCO after the cancellation of its GDRs.

Following the landmark achievement, the company had a subsequent listing of 2.28 billion shares on the NGX the following day. The massive volume of its traded shares pushed the financial services institution’s market value up by 2.39% to close at N3.004 trillion. 

According to reports, investors increased their stakes in the group amid expectations of strong earnings, improved corporate governance and a healthy dividend history. The company has seen a rise in investors’ participation as analysts explained that healthy earnings and dividend history are suitable for its shareholders’ profiles.

Group Chief Executive Officer of GTCO, Segun Agbaje, stressed that the development represents a significant milestone in the company’s growth model.

“This offering and transition to a full listing on the Official List of the FCA and to trading of the company’s shares on the London Stock Exchange’s main market for listed securities represents a pivotal moment in GTCO’s growth story, reinforcing our position as a forward-thinking African financial services institution,” Agbaje said.

He added that by enhancing global visibility and access to capital, GTCO isn’t just advancing its growth target but also shaping transformative opportunities across its customer segment and markets it operates in.

For GTCO, the capital raise is a testament to its commitment to delivering sustainable value to its stakeholders and driving innovation across the financial services landscape in Africa.

Guaranty Trust Holdings Company’s market value exceeded N3 trillion in the equities market on Wednesday, July 9, 2025, due to a high demand for an organ-branded financial services firm. 

Its latest surpass of the N100 threshold in the NGX not only signifies GTCO’s recent performance but also serves as a positive momentum that mirrors the broader bullish trend in the banking sector, with the NGX Banking Index already up over 22% in July.