- Guaranty Trust Holding Company has become the latest company to join the exclusive group of stocks worth over one trillion (SWOOTs).
- The financial service firm reached this milestone after its share price rose to N34.5 per share during trading hours on Tuesday, June 27.
- GTCO is the second financial service company to join the current group of SWOOTs after Zenith Bank achieved the milestone a few days ago.
Guaranty Trust Holding Company (GTCO) Plc has crossed N1trillion market capitalization to become the latest company to join the exclusive group of stocks worth over one trillion (SWOOTs).
The financial service firm reached this milestone after its share price rose to N34.5 per share during trading hours on Tuesday, June 27.
GTCO becomes the second financial service company to join the current group of SWOOTs after Zenith Bank achieved the milestone on Friday, 23rd June 2023.
The current group of SWOOTs currently includes BUA Cement, BUA Foods, MTN Nigeria, Airtel Africa, Dangote Cement, and Zenith Bank.
At the end of trading today, GTCO shares closed at N34.4 per share. This brings the market capitalization to N1.01 trillion.
Q1 Earnings Result
In its unaudited financial statements for Q1 2023, GTCO reported profit before tax of N74.1 billion, representing an increase of 36.5% over ₦54.3billion recorded in the corresponding period ended March 2022.
The Group’s loan book (net) dipped by 1.5%from ₦1.88trillion recorded as of December 2022 to ₦1.86trillion in March 2023, while deposit liabilities increased by 9.9% from ₦4.61trillion in December 2022 to ₦5.07trillion in March 2023.
The group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at ₦6.7trillion and ₦975.6billion, respectively.
How The Market Performed
The Nigerian Exchange (NGX) closed positive at the end of today’s trading session.
The All-Share Index (ASI) traded 1.30%higher to close at 60,108.86 index points as against 59,338.76 index points recorded in the previous day’s trading session.
The market capitalization of equities saw a gain of N422 billion to close at N32.730 trillion, 1.31% higher than the N32.308 trillion recorded in the previous trading session.
A good landmark, kudos to U Naira metrics