Guaranty Trust Holding Company Plc (GTCO) experienced a notable surge in its share price on Tuesday, May 6, 2025, resulting in a market capitalisation increase of ₦52.3 billion.
This rise occurred despite public backlash over the arrest of social media activist Martins Vincent Otse, known as VeryDarkMan (VDM), by the Economic and Financial Crimes Commission (EFCC) outside a GTBank branch in Abuja on May 2.
GTCO’s share price climbed by 2.44%, reaching ₦65 from the previous ₦63.45, marking its highest level in May. Consequently, the company’s market capitalisation increased from ₦2.16 trillion to ₦2.21 trillion, benefiting shareholders with a ₦52.3 billion gain.
Financial analysts attribute this positive performance to GTCO’s strong fundamentals, including robust earnings and market position.
Despite social media calls for account closures, investor confidence remained strong, with institutional investors focusing on financial data rather than public sentiment.
In its Q1 2025 financial results, GTCO reported a profit before tax of ₦300.4 billion, down from ₦509.3 billion in the same period the previous year. Post-tax profit decreased to ₦258 billion from ₦457 billion, while revenue fell to ₦523.2 billion from ₦680.5 billion.
However, net interest income increased by 40.1% to ₦318.4 billion, and loan impairment charges decreased by 0.5%, indicating improved credit risk management.
As of December 2024, GTCO’s customer deposits stood at ₦10.01 trillion, reflecting a 35% increase from ₦7.40 trillion in 2023. This growth underscores the bank’s strong customer base and financial stability.
