Segun Agbaje, CEO of Guaranty Trust Holding Company (GTCO), has disclosed the company’s three most profitable non-banking subsidiaries for 2025.
The disclosure was made during GTCO’s FY 2025 Investor Call on Monday, which was monitored by Nairametrics.
According to Agbaje, the three most profitable non-banking businesses for GTCO in 2025 were fintech, asset management, and pensions. He highlighted that these sectors were key contributors to the company’s strong performance outside of traditional banking.
Agbaje detailed the performance of the subsidiaries, with fintech arm HabariPay leading the way.
HabariPay recorded a profit of N9.7 billion, followed by Guaranty Trust Fund Managers (GTFM) in asset management, which posted N9 billion, and Guaranty Trust Pension Managers (GTPM) with N4.7 billion.
“HabariPay was our most profitable non-banking business in 2025, generating N9.7 billion in profit,” Agbaje said.
“Asset management followed closely with N9 billion, while pension brought in N4.7 billion. These three areas are a critical part of our strategy and will continue to grow.”
He emphasized the company’s confidence in the potential growth of these subsidiaries, aiming for a 3% contribution from them to the broader ecosystem.
HabariPay’s 2025 profit after tax (PAT) surged 155%, reaching N9.7 billion, compared to N3.8 billion in 2024.
This increase is attributed to a sharp rise in operating income, which grew by 122%, from N5.8 billion in 2024 to N12.9 billion in 2025.
The fintech company’s operating expenses doubled to N3.2 billion, reflecting its continued expansion.
However, HabariPay’s business model remained efficient, as it recorded no loan impairment charges or taxes during the year.
Agbaje expressed that Nigeria will remain a vital market for GTCO, even as the company looks to expand in other regions.
He reiterated that while the company plans for regional growth, Nigeria’s contribution should not fall below 55%.
“Hopefully, by half a year, we will open in another francophone West African country. We might then look at some other countries in West Africa. But the balance still has to be, Nigeria still has to be 55% of this business.
“Nigeria must remain extremely relevant in the long term,” he said.
Beyond its non-banking subsidiaries, Guaranty Trust Holding Company reported a pre-tax profit of N1.23 trillion for the year ending December 2025, a slight decrease of 2.78% from N1.27 trillion in the previous year.
The company’s profit after tax dropped by 14.94% to N865 billion, compared to N1 trillion in 2024. Gross earnings remained relatively flat, increasing marginally year-on-year to N2.215 trillion.
