By Guaranty Trust Holding Company (GTCO) Plc shareholders have approved a total dividend payout of N8.03 per share for the 2024 financial year—the company’s highest to date—at its fourth Annual General Meeting held virtually.
Record Profit, Rising Payout
The approved dividend includes an interim dividend of N1 per share already paid and a final dividend of N7.03, reflecting GTCO’s record-breaking financial performance.
Breaking Barriers: First to Cross N1 Trillion Profit
Chairman of GTCO, Mr. Hezekiah Oyinlola, highlighted a landmark achievement:
“In 2024, we became the first Nigerian bank to surpass the N1 trillion profit mark, an achievement that underscores the resilience of our business model, the dedication of our people, and the trust our customers place in us.”
He attributed GTCO’s performance to “operational excellence, disciplined risk management, and customer-centric innovation.”
Diversification Strategy Paying Off
Oyinlola added,
“Our strategic diversification into payments, asset management, and pension fund administration has provided complementary revenue streams, reinforcing our leadership in the financial services sector.”
CEO Highlights Resilience Amid Challenges
Group CEO, Mr. Segun Agbaje, reiterated the Group’s operational strength:
“We delivered over N1 trillion in profit before tax, becoming the first Nigerian financial institution to achieve this feat.”
He said GTCO navigated a “rapidly evolving regulatory and macroeconomic environment” with strong focus on resilience and excellence.
“Our banking subsidiary remains at the heart of our operations, driving growth across Nigeria, West Africa, East Africa, and the UK,” Agbaje noted.
Eyes on Digital Growth and Recapitalization
Agbaje emphasized digital transformation, improved customer experiences, and ecosystem expansion as GTCO’s next strategic steps. He also addressed the CBN recapitalization policy, saying it creates “an opportunity to reinforce market leadership,” with the first phase of equity capital raising already underway.
Leadership Transition Underway
Chairman Oyinlola announced that Mr. Suleiman Barau has been appointed as the new Group Chairman, pending regulatory approval, in line with the Group’s succession plan.
Shareholders Approve Strategy
Shareholders praised the board and management for delivering strong results despite economic challenges.
