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Segun Agbaje, the group chief executive officer of Guaranty Trust Holding Company Plc (GTCO), one of Nigeria’s largest financial services groups, told analysts in 2020 that the group was coming for the payments space. Six years later, GTCO’s numbers show that payments have become a business in their own right—one that makes money, brings in customers, and serves merchants.
Through Habari Pay Ltd, GTCO’s payments business, the group has built a payments infrastructure business across switching and processing. Through GTWorld and Pay-with-Transfer, it is processing increasingly large volumes of customer transactions.
On the surface, GTCO’s first half of 2026 numbers were not particularly impressive. Gross earnings increased by 3.25%, profit after tax declined by 7.76%, while its cost-to-income ratio remained low at 31.50%.
Originally published by TechCabal.