Agbaje disclosed this during an interview with Ugo Obi-Chukwu on the sidelines of GTCO’s Annual General Meeting (AGM) held in Lagos.
According to him, GTCO initially viewed the rapid growth of fintech firms as a major disruption to the traditional banking sector but responded by launching its own digital platform, HabariPay, to compete effectively in the market.
“Everybody was really nervous about fintech, so we built our own speed boat. That’s Habari,” Agbaje said.
“Habari is competing very, very effectively and it means we are not scared about the threat of fintechs any longer. We have a very strong engine to compete with them,” he added.
HabariPay recorded a profit of N9.7 billion in 2025, emerging as the strongest-performing non-banking subsidiary within the GTCO group.
Agbaje described 2025 as a strong financial year for the company, noting that the group’s earnings quality and core banking operations remained solid.
“For us, it’s been a really good year. 2025 quality of earnings was really good. It has allowed us to pay a healthy dividend. All indices are right. We made up the revaluation gains of 2024. Core business is strong,” he said.
He further stated that GTCO’s recent performance had validated the group’s long-term strategy, especially during periods when investors were uncertain about the company’s stock value.
“I remember we were trying to get people to buy this stock at 44 Naira and we’re trying to convince them. I think what has happened is vindication for us,” Agbaje stated.
The GTCO boss also revealed that the group’s three most profitable non-banking subsidiaries in 2025 were fintech, asset management, and pension services.
While HabariPay posted N9.7 billion profit, Guaranty Trust Fund Managers (GTFM) reported N9 billion earnings, and Guaranty Trust Pension Managers (GTPM) recorded N1.7 billion profit during the year.
According to Agbaje, the subsidiaries are becoming increasingly important contributors to GTCO’s broader financial ecosystem.
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