Fintech HabariPay Becomes GTCO’s Most Profitable Non-Banking Unit

HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company (GTCO), overtook the group’s asset management business to become its most profitable non-banking subsidiary in the first nine months of the year.

The fintech unit saw its after-tax profit more than double to N6.53 billion from N3.03 billion in the same period of 2024, according to GTCO’s latest earnings report. Its total assets grew to N15.35 billion as of September from N10.97 billion in December.

GT Fund Managers reported a profit of N6.06 billion, down from N6.53 billion a year earlier. It is the biggest non-bank subsidiary by assets with N647.95 billion as of September, up from N516.46 billion nine months ago.

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The net income of GT Pension Fund Administrator rose to N1.37 billion from N1.14 billion, with its assets increasing to N15.35 billion from N14.25 billion.

Guaranty Trust Bank Staff Investment Trust posted a profit of N1.36 billion, up from N178.25 million. Its assets grew to N144.29 billion from N91.17 billion.

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