Guaranty Trust Holding Company Plc (GTCO), one of Nigeria’s largest financial institutions, saw its market capitalisation on Wednesday rise past ₦3 trillion ($1.96 billion) for the first time, driven by investor enthusiasm following its debut on the London Stock Exchange (LSE).
GTCO’s share price rose by 2.39% to ₦88 ($0.057) on the Nigerian Exchange Limited (NGX), lifting its valuation to ₦3.04 trillion ($1.96 billion), up from ₦2.93 trillion ($1.92 billion) the previous day, according to data from NGX.
With its new valuation, GTCO has solidified its position as Nigeria’s most valuable bank by market capitalisation, closing in on non-bank giants like Seplat Energy Plc and BUA Cement Plc, which are valued at ₦3.21 trillion ($2.09 billion) and ₦3.13 trillion ($2.04 billion), respectively.
The parent company of GTBank is also the first Nigerian financial institution to list on the LSE, marking a significant step in its strategy to expand its global footprint and attract international investors.
According to a corporate disclosure on Wednesday, GTCO’s entire issued share capital of 36.4 billion ordinary shares has been admitted to trading on the LSE under the equity shares category for international commercial companies.
The stock trades under the ticker “GTHC,” though the company has confirmed plans to change it to “GTCO” following the cancellation of its Global Depository Receipts (GDR) listing to reflect its current brand identity.
The dual listing positions GTCO among a select group of Nigerian firms with shares trading on both the Lagos and London exchanges. It also reflects rising global investor appetite for well-governed African corporates with strong fundamentals and cross-border operations.
GTCO shares have gained more than 30% in 2025, outperforming many of its peers. With presence in 10 countries and a growing portfolio of non-banking subsidiaries, the group is leaning on digital innovation, regional expansion, and strategic restructuring to drive future growth.
Analysts say GTCO’s LSE debut could set a precedent for other Nigerian banks eyeing international capital markets, particularly as institutions seek to deepen access to foreign capital amid currency volatility and economic reforms at home.
The figures were originally reported in Naira, and have been converted using $1 = ₦1,529 as of July 8, 2025.
