Investors Should Consider Buying GTCO as Stock Hit New Lows of N23

Guaranty Trust Holding Company PLC (GTCO) stock set a new 52-week low during today’s trading session when it reached N23.00. Over this period, the share price is down -22.58 percent.

Investors may consider buying GTCO stock at these levels as it continues to execute on its Holding Company (HoldCo) strategy.

The year 2021 was a transition one for GTCO as it became a Holding Company amid numerous regulatory and macro headwinds.

In spite of the challenges and headwinds which affected businesses and households, Guaranty Trust Holding Company (GTCO) Plc was able to navigate efficiently, deploying appropriate strategies to deliver Post-tax Return on Average Assets of 3.37 percent and Post-tax Return on Average Equity of 20.60 percent.

GTCO reported profit after tax of N174.89 billion as at December 2021, and its net income is the second largest in the industry.

The lender realised N106.79 billion in noninterest revenue, which represents a 2.20 percent increase from 2020’s N104.49 billion as at December 2020.

Net fees and commission income surged by 39.88 percent to N65.65 billion in the period under review from N46.93 billion as at December 2020.

It closed the 2021 financial year with total Assets of N5.44 trillion, which represents 9.9 percent growth from 2020’s N4.95 trillion.

GTCO stock also went ex-dividend on March 24, which may also be driving down the share price. The ex–dividend date is when the stock starts trading without the value of the previously declared dividend or distribution.

GTCO which is Nigeria’s second largest bank by market capitalization declared a final dividend of N2.70 per share.