The shares of Guaranty Trust Holding Company Plc (GTCO) broke through the N100 mark on July 16, 2025, and showed significant mid-session gains. This accomplishment places GTCO above Stanbic IBTC Holdings, which is trading at about N99, as the first banking stock under the NGX Banking index to break through the N100 barrier.
The banking industry’s overall bullish trend is reflected in this positive momentum, as the NGX Banking Index has already increased by more than 22% in July.
Additionally, it comes after GTCO’s recent dual listing, consisting of 2.29 billion ordinary shares admitted to trading on the London Stock Exchange on July 9, 2025, and 2.28 billion shares listed on the Nigerian Exchange the same day.
Strong Q1 2024 earnings and favorable market response to GTCO’s cross-border listing are probably what are driving the company’s rally. So far this month, the stock has increased by more than 27%.
