GTCO Market Cap Soars to N2.9 trillion as Investor Confidence Surges
GTCO Plc experienced significant market gains on Friday, with investor enthusiasm driving the company’s market capitalisation to approximately N2.9 trillion by the close of trading.
The financial services holding company’s shares jumped 21.3%, as both domestic and international investors expanded their holdings, attracted to banking stocks eligible for unrestricted dividend distributions ahead of second-quarter earnings reports.
Banking sector indices experienced sharp periodic declines last week after regulatory guidance barred banks operating under forbearance from distributing dividends until regulatory clearance is obtained. Analysis reveals that GTCO maintains relatively low exposure to the oil and gas sector at 38.23%, in contrast to Fidelity Bank’s 221.3% exposure.
The company reached a new 52-week high of N84.95 on Friday, with a trading volume of 21.063 million shares worth N1.704 billion. The share price began the week at N71.50, before sustained investor interest drove a week-long upward trend.
Unlike other institutions affected by Central Bank directives, GTCO avoided the market selloff that impacted equities last week. The company had positioned itself advantageously by fully resolving its forbearance status well ahead of the June 2025 regulatory deadline.
During its 2024 investor presentation, the group confirmed the elimination of all forborne exposures and emphasised its cautious lending approach, according to analysis from Meristem Securities Limited.
This conservative strategy was reflected in reduced loan growth of 12.32% in 2024, down from 31.52% the previous year. Market analysts expect GTCO to maintain its traditional interim dividend policy to serve shareholder interests.
