Shares of Guaranty Trust Holding Company Plc (GTCO), the parent company of Guaranty Trust Bank, jumped more than 27% following its recent listing on the London Stock Exchange (LSE), pushing the stock price above 100 Nigerian naira for the first time, according to market reports.

The rally on the Nigerian Stock Exchange (NGX) marks a historic moment as GTCO became the first Nigerian bank to surpass the 100-naira threshold per share, during the trading session of July 16, 2025. The surge has positioned GTCO ahead of its closest rival, Stanbic IBTC Holdings Plc, which was trading just below 100 naira.

GTCO’s LSE listing on July 9 included the admission of over 2.29 billion ordinary shares to trading. The move is part of a strategy to raise approximately 154 billion naira ($376 million) in fresh capital to recapitalize its Nigerian banking unit and meet the Central Bank of Nigeria’s new minimum capital requirement of 500 billion naira for international commercial banks.

The stock’s strong performance is underpinned by GTCO’s 2024 financial results, which showed an 88% increase in profit after tax to 1.02 trillion naira ($2.5 billion), up from 540 billion naira the previous year.

Following the LSE debut, GTCO’s shares also gained momentum on the Nigerian Stock Exchange, where market value rose 2.4% to nearly 3 trillion naira ($7.3 billion).