GTCO breaks N100 barrier, becomes First Nigerian Bank to hit milestone

Shares of Guaranty Trust Holding Company Plc (GTCO) surged past the symbolic N100 threshold during mid-session trading on Wednesday, July 16, 2025, marking a historic milestone on the Nigerian Exchange (NGX) and cementing GTCO’s position as the first banking stock under the NGX Banking Index to reach triple digits.

Trailing just behind was Stanbic IBTC Holdings, which hovered at N99 per share, underscoring the increasing investor appetite for strong-performing banking stocks. GTCO’s rally reflects the growing bullish momentum sweeping across Nigeria’s financial sector, with the NGX Banking Index gaining over 22% so far in July alone—one of its fastest month-to-date climbs in recent years.

The breakout is being fueled by renewed investor optimism, driven by robust financial performances and strategic corporate actions within the banking industry. In GTCO’s case, market confidence has been buoyed by its ambitious global expansion strategy and impressive earnings.

A major catalyst for the current rally was GTCO’s landmark dual listing on both the London Stock Exchange and the Nigerian Exchange. On July 9, 2025, the company listed 2.29 billion ordinary shares on the LSE’s Main Market, followed by the listing of an additional 2.28 billion shares on the NGX on July 10. The move is part of a broader strategy to attract global capital and deepen liquidity for investors.

GTCO’s share performance throughout 2025 has reflected the company’s rising momentum. Starting the year at N57, the stock closed January at N61.05 on the back of heavy trading volumes totaling 393 million shares. Although February saw a mild 0.25% gain, March delivered a powerful 12.4% rise, culminating in a first-quarter return of 20.7%.

April recorded the only decline of the year so far, with a 4.9% drop. However, that setback proved temporary as GTCO bounced back in May and June, closing the second quarter with an 18.1% gain. July’s rally has seen the stock trade consistently between N102 and N103, reinforcing investor confidence.

READ ALSO: GTCO emerges first West African bank to dual list on NGX, LSE

Market analysts point to GTCO’s strong financials as a major driver of the stock’s momentum. The group posted a pre-tax profit of N300.4 billion in Q1 2025, buoyed by a 41.1% increase in interest income and a 41.2% surge in fee and commission income—both indicators of resilient core operations.

Another boost came from the Central Bank of Nigeria’s June 2025 directive, which restricted banks under regulatory forbearance from paying dividends or making certain investments. GTCO had already exited regulatory forbearance as of December 2024, positioning it favorably among tier-one banks. On June 17, it stood out as the only FUGAZ stock (First Bank, UBA, GTCO, Access, Zenith) to close in the green, gaining 5.8% amid broader sector losses.

GTCO Group CEO, Mr. Segun Agbaje, has reaffirmed the company’s strong fundamentals and long-term outlook, pledging to maintain a dividend yield of at least 15% and a minimum return on equity (ROE) of 25%.

“Our dual listing positions GTCO as a truly global financial services provider, and we remain committed to creating superior value for our shareholders,” Agbaje said.

With strong investor sentiment, a solid earnings profile, and international exposure, GTCO’s breakout above N100 could signal the start of a new valuation era for Nigerian banking stocks—and potentially redraw the landscape of the NGX Banking Index.