Guaranty Trust Holding Company (GTCO) has signaled growing confidence in its digital financial strategy, stating that fintech companies are no longer a major threat to its operations. The declaration comes as its fintech subsidiary, HabariPay, records a strong financial performance with a reported ₦9.7 billion profit in the 2025 financial year.
The update was shared by GTCO Group Chief Executive Officer, Segun Agbaje, during a recent performance briefing, where he highlighted the increasing strength of the group’s non-banking businesses and their contribution to overall earnings. HabariPay’s results now place it as one of the most successful digital payment arms within Nigeria’s banking ecosystem.
HabariPay is GTCO’s payment and fintech subsidiary responsible for digital transaction services, merchant solutions, and payment infrastructure. The company has become a key part of GTCO’s strategy to expand beyond traditional banking into a wider financial services ecosystem that includes payments, pensions, and asset management.
According to the latest figures, HabariPay recorded a profit after tax of ₦9.7 billion in 2025, making it the most profitable non-banking subsidiary within the GTCO group. The performance reflects strong growth in digital payments usage, increased merchant adoption, and rising transaction volumes across its platforms.
The fintech arm operates a range of services that support both individuals and businesses, including payment processing, point-of-sale systems, and digital transaction solutions. These services have benefited from Nigeria’s continued shift toward cashless payments and the rapid expansion of digital commerce across the country.
GTCO’s leadership structure under Segun Agbaje has placed significant emphasis on diversification, particularly through the holding company model that allows different subsidiaries to operate independently while contributing to group performance. This approach has enabled HabariPay to grow as a standalone business unit while still leveraging GTCO’s large customer base and infrastructure.
The ₦9.7 billion profit also highlights a broader trend within Nigeria’s financial sector, where traditional banks are increasingly investing in fintech capabilities rather than relying solely on external technology partners. Instead of being disrupted by fintech startups, banks are now building internal systems that compete directly in the digital payments space.
HabariPay’s growth also reflects changing consumer behaviour, as more Nigerians adopt mobile payments, online transactions, and electronic banking services. Businesses are also increasingly relying on digital payment gateways to process transactions, further boosting demand for fintech infrastructure.
While fintech startups initially disrupted the Nigerian financial industry by offering faster and more flexible services, established banks like GTCO have responded by developing their own digital platforms. This has created a more competitive environment where both banks and fintech companies are pushing innovation in payments and financial services.
Segun Agbaje’s comments reflect confidence that GTCO’s ecosystem strategy is beginning to yield results. By combining traditional banking with digital payments and other financial services, the group is positioning itself as a diversified financial powerhouse rather than a single-service bank.
HabariPay’s performance also strengthens GTCO’s overall earnings base, showing that non-banking subsidiaries are becoming increasingly important to the group’s long-term growth. The success of the fintech arm suggests that digital transformation within traditional banking institutions is no longer optional but essential for survival in a rapidly evolving financial landscape.
Industry observers see this development as part of a larger shift in Nigeria’s fintech ecosystem, where competition is no longer just between banks and startups, but between fully integrated financial ecosystems. As banks continue to expand their digital offerings, fintech companies are also innovating to maintain their market position.
For GTCO, the ₦9.7 billion profit from HabariPay represents more than just financial success, it signals a strategic evolution. The group is no longer only responding to fintech disruption but actively participating in shaping the future of digital finance in Nigeria.
As competition intensifies, the lines between traditional banking and fintech are becoming increasingly blurred. GTCO’s latest performance suggests that the future of finance may not be about banks versus fintechs, but rather about who can build the most efficient and scalable digital ecosystem.
