In what many market analysts are calling a defining moment for the Nigerian financial sector Guaranty Trust Holding Company Plc (GTCO) has officially become the first Nigerian bank in 2025 to surpass the ₦100 per share threshold This remarkable achievement, which saw GTCO’s share price reach a high of ₦101.35 on July 15, 2025, marks a significant turning point not only for the bank but also for the Nigerian Exchange (NGX) as a whole.
Crossing the ₦100 price level is more than a numeric accomplishment it is a psychological and technical breakthrough that symbolizes the growing maturity and revaluation of Nigerian banking equities. It also reaffirms GTCO’s leadership within the country’s financial system. For years, even Nigeria’s most profitable banks have traded below what many considered their intrinsic value, largely due to investor caution, economic uncertainty, and weak foreign participation. GTCO’s stock performance in July appears to have disrupted that narrative.
Several key factors contributed to this historic price rally. At the center is GTCO’s strategic dual listing on both the London Stock Exchange (LSE) and the Nigerian Exchange (NGX). On July 9, 2025, GTCO listed 2.29 billion ordinary shares on the LSE, giving international investors direct access to the bank’s equity through a Global Depositary Receipts (GDR) program. Just one day later, the company added 2.28 billion new shares to the NGX, effectively boosting its liquidity and enhancing its visibility across two of the most important stock markets for African companies.
This bold move attracted widespread praise from market participants and analysts. The dual listing not only improved investor access to GTCO shares but also sent a powerful message about the company’s transparency, ambition, and global outlook. It placed GTCO in a class of its own, being the first Nigerian financial institution in 2025 to secure cross-border equity exposure through coordinated listings.
In addition to this capital market success, GTCO’s strong Q1 2024 financial performance laid the foundation for its current momentum. The bank posted a ₦102.4 billion profit before tax, representing a 34% increase compared to Q1 2023. Other indicators, such as gross earnings, return on equity, and cost efficiency, also showed significant improvements. These results reassured investors that the bank was not only ambitious in its global strategy but also fundamentally sound.
Moreover, GTCO’s performance comes against the backdrop of a broader bullish trend in the Nigerian banking sector. The NGX Banking Index gained more than 22% in June 2025, buoyed by easing inflation, improving foreign exchange liquidity, and rising expectations around H1 2025 earnings. While other tier-one banks such as Zenith, Access Holdings, and UBA have also posted notable gains, GTCO stands out as the first to break the ₦100 barrier, underlining its leadership status in the sector.
Market analysts have described this feat as a watershed moment for Nigeria’s capital markets. According to Bolaji Oseni, Head of Equities at Vetiva Capital, “GTCO breaking ₦100 is a record moment — not just for the bank, but for the NGX and investor confidence in Nigeria’s long-term potential. It shows what’s possible when performance and vision align.”
Indeed, the implications of GTCO’s milestone could ripple across the market. Crossing ₦100 per share is often seen as a psychological benchmark that encourages both institutional and retail investors to reassess the true value of a stock. For GTCO, this could open the door to higher equity analyst ratings, inclusion in more global indices, and greater access to capital. For the rest of the sector, it may ignite a competitive revaluation of other banks that are also performing well but still trading at lower multiples.
As investors look ahead, attention will shift to GTCO’s Q2 earnings report, expected dividend declarations, and strategic updates regarding its pan-African digital banking expansion. With its strong balance sheet, brand credibility, and newfound cross-border investor base, analysts are already projecting a new short-term target between ₦110 and ₦120, if market momentum holds.
GTCO’s emergence as the first Nigerian bank stock to cross the ₦100 mark in 2025 represents a bold statement about what is possible in Nigerian capital markets. It is a historic achievement fueled by vision, performance, and strategic execution, and one that could signal the beginning of a wider revaluation cycle in the banking sector. As Nigeria’s financial ecosystem continues to evolve, GTCO has positioned itself not just as a participant, but as a pacesetter for the future of African banking.
