Guaranty Trust Holding Company Plc (GTCO) achieved a significant milestone on Wednesday, as its shares surged previous the N100 mark throughout mid-session buying and selling on the Nigerian Alternate (NGX).
This makes it the primary inventory underneath the NGX Banking Index to succeed in that degree.
The breakthrough displays rising investor confidence within the banking group and marks a historic second for the sector, with Stanbic IBTC Holdings intently trailing at round N99.
In line with Nairametrics, the rally comes amid a broader bullish sentiment sweeping by means of the banking sector.
The NGX Banking Index has gained over 22% up to now in July, positioning {financial} shares among the many strongest performers available on the market.
GTCO’s current cross-border itemizing is believed to be a key driver behind the inventory’s momentum. On July 9, 2025, the corporate listed 2.29 billion extraordinary shares on the London Inventory Alternate, adopted by the admission of a further 2.28 billion shares on the Nigerian Alternate the subsequent day.
Investor enthusiasm has additionally been buoyed by GTCO’s robust earnings report for the primary quarter of 2024, with the inventory posting a 27% acquire month-to-date.
For the reason that begin of the yr, GTCO has proven constant upward motion. It opened January buying and selling at N57 and closed the month at N61.05, after buying and selling 393 million shares.
Whereas February’s efficiency was comparatively flat with a modest 0.25% acquire, March noticed a pointy rebound with a 12.4% enhance, bringing the corporate’s first-quarter efficiency to twenty.7%.
Market analysts say the inventory’s current efficiency underscores the impression of strategic strikes and investor urge for food for essentially robust {financial} establishments, particularly these increasing their worldwide footprint.
