- Shareholders of Greenwich Holdings Limited have commended the board and management for the company’s strong financial performance in 2025 and successful transition into a financial holding company.
According to a statement by the company’s Head of Corporate Communications, Ozena Utulu, at the company’s maiden Annual General Meeting (AGM) in Lagos, shareholders approved all resolutions presented, including the resolution authorising the company to increase its share capital, subject to regulatory approval, as well as the re-election of all directors.
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Speaking at the meeting, Dr. Umar Faruk and Sir Sunday Nnamdi Nwosu who are Shareholders praised the board and management for sustaining growth and dividend payment.
For the 2025 financial year, Greenwich Holdings recorded a 131.9% increase in gross earnings to ₦64.23 billion, while profit before tax rose by 71% to ₦19.29 billion. Profit after tax grew by 71.3% to ₦13.89 billion from ₦8.11 billion in the previous year.
Total assets increased by 69% to ₦309.12 billion, while shareholders’ funds rose by 67% to ₦76.71 billion. Customer deposits also climbed by 80.5% to ₦173.84 billion.
Chairman of the Group, Kayode Falowo, said the company maintained strong cost discipline despite inflationary pressures and continued investments in technology and branch expansion, adding that the bank recorded zero non-performing loans during the period. In his address to the Shareholders, he described the holding company structure as a strategic platform aimed at strengthening governance, improving capital deployment, and enhancing long-term shareholder value.
Falowo also disclosed that the Group had received Approval-In-Principle for the conversion of Greenwich Merchant Bank to a Commercial bank with regional authorisation, awaiting the final license.
The Group Managing Director, Oyewale Ariyibi, said the group has undertaken a restructuring that led to the formal establishment of the holding company with the following subsidiaries:
- Greenwich Merchant Bank Limited
- Greenwich Asset Management Limited
- Greenwich Securities Limited
- Greenwich Capital Markets Limited
Ariyibi who spoke on the strategic priorities of the company in the next two years added that the recent review of minimum capital requirements for Capital Market Operators by the Securities and Exchange Commission (SEC) had made it necessary for the Group to raise additional capital to recapitalise the affected subsidiaries ahead of the 2027 deadline.
“The Group remains focused on strengthening its capital base, expanding its footprint in financial services, and advancing its digital transformation agenda, while positioning for sustained growth across its core business lines,” he said.
