GTCO Breaks N100 Barrier, Sets New Benchmark on NGX Banking Index

Guaranty Trust Holding Company (GTCO) has made history on the Nigerian Exchange (NGX), becoming the first banking stock under the NGX Banking Index to trade above the N100 mark.
The milestone was reached during the trading session on Tuesday, signaling strong investor confidence and solid market momentum.
Stanbic IBTC Holdings is trailing closely, hovering around N99, as the banking sector continues to show bullish activity.
The NGX Banking Index has recorded a gain of over 22% in July alone, reflecting widespread optimism among market participants.
GTCO’s performance is largely attributed to its recent dual listing initiative. On July 9, 2025, the company successfully listed 2.29 billion ordinary shares on the London Stock Exchange (LSE), followed by the admission of 2.28 billion shares to trading on the Nigerian Exchange the next day.
The strategic move has bolstered investor sentiment, strengthening GTCO’s visibility and cross-border investment appeal.
Additionally, the company’s strong Q1 2024 earnings have contributed to the positive market response. GTCO’s stock has gained more than 27% month-to-date, positioning it as a standout performer within the financial services sector.
Analysts believe the N100 breakthrough not only underscores GTCO’s market leadership but may also signal a new wave of interest in fundamentally strong Nigerian banking stocks