Guaranty Trust Holding Company Plc (GTCO) achieved a major milestone on Wednesday, as its shares surged past the N100 mark during mid-session trading on the Nigerian Exchange (NGX).
This makes it the first stock under the NGX Banking Index to reach that level.
The breakthrough reflects growing investor confidence in the banking group and marks a historic moment for the sector, with Stanbic IBTC Holdings closely trailing at around N99.
According to Naijaonpoint, the rally comes amid a broader bullish sentiment sweeping through the banking sector.
The NGX Banking Index has gained over 22% so far in July, positioning financial stocks among the strongest performers on the market.
GTCO’s recent cross-border listing is believed to be a key driver behind the stock’s momentum. On July 9, 2025, the company listed 2.29 billion ordinary shares on the London Stock Exchange, followed by the admission of an additional 2.28 billion shares on the Nigerian Exchange the next day.
Investor enthusiasm has also been buoyed by GTCO’s strong earnings report for the first quarter of 2024, with the stock posting a 27% gain month-to-date.
Since the start of the year, GTCO has shown consistent upward movement. It opened January trading at N57 and closed the month at N61.05, after trading 393 million shares.
While February’s performance was relatively flat with a modest 0.25% gain, March saw a sharp rebound with a 12.4% increase, bringing the company’s first-quarter performance to 20.7%.
Market analysts say the stock’s recent performance underscores the impact of strategic moves and investor appetite for fundamentally strong financial institutions, especially those expanding their international footprint.