GTCO’s HabariPay profit jumps 155% to N9.7bn

The fintech arm of Guaranty Trust Holding Company, HabariPay, delivered a strong financial performance in 2025, posting a profit after tax of N9.7 billion, a 155 per cent increase from N3.8 billion recorded the previous year.

The result signals growing momentum in the group’s digital payments strategy, even as competition intensifies across Nigeria’s fintech space.

According to its full-year financials, the surge in profit was driven largely by a sharp rise in operating income, supported by expansion across key revenue lines. Gross revenue climbed 122 per cent year-on-year to N12.9 billion, up from N5.8 billion in 2024, highlighting rapid scale in transaction volumes and service adoption.

However, the growth came alongside rising costs. Operating expenses doubled to N3.2 billion from N1.6 billion, reflecting continued investment in infrastructure, technology and market expansion. Despite this, the company maintained a lean structure, reporting no loan impairment charges or tax expenses during the period.

While impressive, HabariPay’s contribution remains relatively small within the broader group. Its N9.7 billion profit accounts for just about 1.1 per cent of GTCO’s total profit after tax of N865 billion, underlining both its early-stage nature and long-term growth potential.

Revenue growth driven by payments expansion, ecosystem play

The fintech’s performance aligns with GTCO’s broader shift towards building a digital ecosystem beyond traditional banking. Originally launched as a lifestyle and commerce platform, Habari struggled to gain traction in its early years.

That strategy evolved following the bank’s 2021 restructuring into a holding company, which allowed it to spin off HabariPay as a standalone entity focused on payments, merchant services and digital commerce.

At the centre of this pivot is Squad, its flagship product that combines payment gateway services, point-of-sale solutions and e-commerce tools for businesses. The platform is positioned to serve small and medium-sized enterprises, a segment seen as critical to scaling digital payments adoption in Nigeria.

Similar read: GTCO Names Marie Namias to Board as Independent Director

As a result, HabariPay is now competing more directly with established players such as Interswitch, Paystack and Flutterwave in the payments infrastructure space.

GTCO earnings steady as fintech bets begin to scale

Across the group, GTCO reported a profit after tax of N865 billion, supported by gross earnings of N2.215 trillion, representing a marginal year-on-year increase.

Interest income remained the dominant revenue driver, rising to N1.6 trillion from N1.3 trillion in 2024. Loans and advances to customers contributed the largest share at N559.3 billion, while investment securities also delivered significant returns across both fair value and amortised cost portfolios.

Although HabariPay’s share of earnings is still modest, its rapid growth underscores the group’s long-term bet on digital finance. As Nigeria’s payments market continues to expand, the subsidiary’s trajectory suggests it could become a more meaningful contributor to earnings in the coming years.

For now, the numbers show a business still in build mode, but one scaling fast enough to justify GTCO’s strategic pivot beyond traditional banking.