Diversification efforts at Guaranty Trust Holding Company are increasingly paying off, with the group’s non-banking subsidiaries emerging as strong profit drivers in its 2025 financial year. Insights shared during the company’s investor call highlighted how strategic investments beyond traditional banking are reshaping its earnings profile.
Speaking at the FY 2025 Investor Call, Group CEO Segun Agbaje identified fintech, asset management, and pensions as the three most profitable non-banking segments. These business lines, he noted, have become central to GTCO’s long-term growth strategy, contributing significantly to performance outside its core banking operations.
At the forefront is HabariPay, the group’s fintech arm, which delivered a standout performance with a profit of N9.7 billion. Close behind is Guaranty Trust Fund Managers (GTFM), the asset management subsidiary, which recorded N9 billion in profit. Guaranty Trust Pension Managers (GTPM) also posted a solid contribution of N4.7 billion, underscoring the strength of GTCO’s diversified portfolio.
Agbaje emphasized that these segments are not just complementary businesses but critical pillars of the company’s future. He projected that non-banking subsidiaries will continue to expand their footprint, targeting a 3% contribution to the broader GTCO ecosystem in the near term.
A deeper look at HabariPay’s numbers reveals the scale of its growth. Profit after tax surged by 155% year-on-year, climbing from N3.8 billion in 2024 to N9.7 billion in 2025. This was driven largely by a 122% jump in operating income, which rose to N12.9 billion. While operating expenses also increased—doubling to N3.2 billion as the business scaled—efficiency remained strong, with no loan impairment charges or tax liabilities recorded during the period.
Beyond subsidiary performance, GTCO reaffirmed its commitment to Nigeria as its primary market. Even as the group explores expansion into other West African countries, including planned entry into a Francophone market, leadership maintains that Nigeria will remain central to operations. According to Agbaje, the domestic market is expected to consistently account for at least 55% of the group’s overall business.
On the broader financial front, GTCO reported a pre-tax profit of N1.23 trillion for the year ended December 2025, representing a slight decline of 2.78% from the previous year. Profit after tax also fell by 14.94% to N865 billion, compared to N1 trillion in 2024. Gross earnings, however, remained relatively stable, inching up to N2.215 trillion year-on-year.
Overall, the results reflect a transitional phase for GTCO—one where non-banking ventures are not only cushioning fluctuations in core banking income but also positioning the group for more resilient, diversified growth in the years ahead.