Guaranty Trust Bank (GTBank) is reaping the rewards of its strengthened push into financial technology, as its payment subsidiary, HabariPay, delivered impressive profitability anchored on disciplined cost management and increasing transaction volumes. GTBank’s latest financials reveal that the fintech arm generated ₦6.54 billion in profit, demonstrating the growing impact of digital services on the group’s earnings mix.
Launched to enhance GTBank’s position in the digital payments space, HabariPay operates Squad, a fast-rising payment gateway used by SMEs and larger merchants across Nigeria. While the fintech sector is crowded with ambitious players, HabariPay has differentiated itself through a combination of competitive pricing, strong operational efficiency, and the backing of GTBank’s established infrastructure. This has allowed it to scale without the heavy burn rate typically associated with tech startups.
A key contributor to HabariPay’s performance is its disciplined cost strategy. Instead of aggressive spending on customer acquisition, the company has leveraged GTBank’s extensive customer base and brand trust to grow organically. Additionally, its technology stack—optimized for reliability and speed—has reduced operational overhead by minimizing downtime and the need for constant infrastructure scaling. This lean approach has enabled the platform to process higher transaction volumes with relatively lower expenses.
Squad’s growth trajectory has also been supported by Nigeria’s increasing shift toward digital commerce and cashless payments. Merchants who previously relied on traditional POS services are increasingly adopting Squad’s web-based tools, APIs, and payment links to streamline online and offline transactions. The result has been a surge in transaction volume, boosting revenue through fees while maintaining cost stability.
GTBank’s disclosure of HabariPay’s ₦6.54 billion profit underscores the bank’s successful positioning in a rapidly evolving fintech landscape. While many digital payment firms continue to struggle for profitability, HabariPay’s performance shows that the right mix of cost discipline, product efficiency and distribution advantage can deliver strong returns.
As GTBank continues to expand its fintech ecosystem, HabariPay’s growth signals a future in which financial institutions and fintechs can coexist not as competitors, but as integrated engines of digital financial innovation.
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