The fintech subsidiary of Guaranty Trust Holding Company (GTCO), HabariPay, recorded a profit after tax (PAT) of N9.7 billion in 2025.
This was disclosed by the company in its full-year 2025 financial results, which was recently released.
The fintech’s profit represents a 155% surge when compared with the N3.8 billion it recorded in 2024.
What the data is saying
The N9.7 billion profit after tax is a reflection of the increase in operating income recorded by the fintech company in the period under review.
- According to the 2025 financial report, HabariPay’s gross revenue increased by 122% to N12.9 billion in 2025 from N5.8 billion recorded in 2024, underpinned by significant growth on all key income lines.
- The fintech’s operating expenses for the year stood at N3.2 billion, a 100% higher than the N1.6 billion spent in the previous year.
- HabariPay recorded no loan impairment charges or taxation during the period, underscoring its lean and efficient business model.
More insights
HabariPay’s profit represents 1.1% of GTCO’s profit after tax for the year, which stood at N865 billion.
GTCO’s gross earnings for the year rose to N2.215 trillion, representing a marginal increase of 0.09% YoY compared with the N2.15 trillion posted in 2024.
A review of the company’s top-line shows interest income rose to N1.6 trillion from N1.3 trillion in the previous year.
Loans and advances to customers made up the largest portion, totaling N559.3 billion of the interest income.
Investment securities contributed N489.4 billion at FVOCI and N269.2 billion at amortized cost.
What you should know
GTCO launched Habari in 2018 as a super-app that provides everything from streaming content to an e-commerce marketplace. The bank, with its ecosystem of small business customers, wanted to create a marketplace hub to support vendors across different industries.
- Though it was created by one of Nigeria’s biggest banks, it didn’t focus on providing banking services, and it struggled to gain traction among digital users.
- But in 2020, the lender announced its broader push into digital payments with a corporate restructuring that would make Habari a separate company wholly owned by the bank. In June 2021, Guaranty Trust Bank transitioned into a holding company from its standalone commercial banking structure.
- It made Habari Pay a standalone business offering payments, a marketplace, and small business services.
HabariPay’s flagship product, Squad, combines a payment gateway and e-commerce platform with a Point-of-Sale business. HabariPay’s Squad is now competing with the likes of Interswitch, Paystack, and Flutterwave in the payment gateway business.
