HabariPay Limited, the fintech subsidiary of Guaranty Trust Holding Company (GTCO), recorded a profit before tax (PBT) of N4.02 billion in the first half of 2025, accounting for about 0.67% of the group’s total PBT.
This marks a 95% increase compared to the N2.07 billion recorded in the same period of 2024.
This is according to GTCO’s half-year financial statement for the period ended June 30, 2025.
The impressive result highlights the company’s growing strength in Nigeria’s digital payment space, supported by increased transaction volumes and rising adoption of its payment solutions.
Company expenses
HabariPay’s operating income rose by 82% to N5.05 billion in H1 2025, up from N2.77 billion reported in H1 2024.
The company also recorded higher operating expenses of N1.03 billion compared to N703.3 million in the prior period, reflecting expansion costs and investments in the business.
Despite these higher expenses, the fintech maintained strong operational efficiency, which contributed to the sharp rise in pre-tax profit.
HabariPay recorded no loan impairment charges or taxation during the period, underscoring its lean and efficient business model.
- Nigeria’s fintech sector continues to expand rapidly, driven by a large youthful population, increasing smartphone penetration, and a more supportive regulatory environment. In 2024, the industry attracted over USD 2 billion in investments.
- Given the broader fintech momentum, the strong half-year performance from HabariPay, especially the robust profit before tax can be seen as riding a favourable wave
What you should know
Guaranty Trust Holding Company Plc (GTCO), the parent company of HabariPay, reported a pre-tax profit of N600.9 billion for the half-year ended June 30, 2025, representing a 40% year-on-year decline. The drop was largely due to a sharp fall in foreign exchange gains, which dropped from over N600 billion in H1 2024 to just N26 billion in H1 2025.
The decline in profit highlights how much of GTCO’s 2024 performance had been boosted by FX revaluation gains, which were not repeated in 2025.
Despite this, GTCO’s share price has continued to perform strongly, climbing from N29.20 in 2020 to N94.00 as of October 15, 2025, representing a compound annual growth rate (CAGR) of 28%. The stock has traded within a five-year range of N19 to N55 and is currently up 64% year-to-date, showing strong market confidence in the group’s long-term prospects.
Over the past five years, GTCO’s profit-after-tax (PAT) has also grown steadily, expanding at a compound annual growth rate of 50%, compared to Zenith Bank’s 45% CAGR.
