Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company (GTCO), has disclosed that HabariPay Limited emerged as the most profitable subsidiary within the group’s non-banking segment in the 2025 financial year.
Speaking during the company’s full-year 2025 investor call on Monday, Agbaje said the fintech arm posted a profit of N9.7 billion, outperforming other subsidiaries in the segment.
GTCO’s non-banking businesses include HabariPay Limited, Guaranty Trust Fund Managers (GTFM), and Guaranty Trust Pension Managers (GTPM).
Read also: GTCO’s HabariPay triples profit to N9.7bn on digital payments growth
“HabariPay was our most profitable non-banking business in 2025, generating N9.7 billion in profit,” Agbaje said.
Financial details show that Guaranty Trust Fund Managers (GTFM) in asset management posted N8.3 billion, while Guaranty Trust Pension Managers (GTPM) posted N1.7 billion.
HabariPay’s performance reflects the increasing role of digital payments within the group’s strategy. The fintech subsidiary reported an after-tax profit of N9.7 billion and processed transaction volumes of 8.1 trillion in 2025, its highest level since inception.
Operating income for the unit rose by 118 percent to N12.9 billion from N5.8 billion in 2024, driven by increased adoption of its payment solutions. Operating expenses also climbed to N3.2 billion from N1.59 billion, reflecting higher investments in infrastructure and expansion initiatives.
Despite the increase in costs, the company maintained operational efficiency, with cash flow from core operations rising by 59 percent to N7.8 billion, compared to N4.9 billion in the previous year.
During the investor call, the CEO also highlighted that the group’s deposit growth, excluding time deposits, has been largely driven by its point-of-sale (PoS) strategy, as customer behaviour continues to shift towards digital channels.
According to him, technology adoption across the group remains strong, with over 3.1 million users on its platforms. He noted that customers are increasingly embracing services such as card payments, instant transfers, and PoS transactions.
“Technology adoption is going very well. If you’re a customer, you tell us you like it. We have the card business, instant transfer, PoS usage because people are changing behaviour,” he said.
Agbaje added that beyond customer-facing benefits, technology investments are expected to drive cost optimisation and improve operational efficiency across the group.
Read also: How HabariPay performed in nine months
“Technology for us is not only going to be useful for what you see; it will also give us cost optimisation because we’re going to be able to optimise our processes and create cost efficiency,” he said.
He noted that the group expects to expand its customer base further in 2026, supported by its ongoing digital transformation strategy.
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