Holding Firm Targets Expansion, Capital Market Growth As Profit Rises 71%

Greenwich Holdings Limited has outlined plans to expand into commercial banking and strengthen its capital market operations following a strong 2025 financial performance, with profit after tax rising by 71.3 per cent.

The company disclosed its growth strategy during its Annual General Meeting (AGM) in Lagos, where shareholders commended the board and management for delivering impressive results in the group’s first full year as a financial holding company.

According to a statement issued by the company’s Head of Corporate Communications, Ozena Utulu, shareholders approved several key resolutions, including authorisation for an increase in share capital, subject to regulatory approval, as well as the re-election of all directors.

The meeting also provided an opportunity for shareholders to applaud the company’s leadership. Shareholders Dr Umar Faruk and Sir Sunday Nnamdi Nwosu praised the board and management for sustaining growth momentum and maintaining dividend payments despite a challenging economic environment.

Greenwich Holdings posted a robust performance for the 2025 financial year, with gross earnings surging by 131.9 per cent to N64.23 billion. Profit before tax rose by 71 per cent to N19.29 billion, while profit after tax increased to N13.89 billion from N8.11 billion recorded in 2024.

The group’s balance sheet also strengthened significantly, with total assets growing by 69 per cent to N309.12 billion and shareholders’ funds rising by 67 per cent to N76.71 billion. Customer deposits climbed by 80.5 per cent to N173.84 billion, reflecting growing customer confidence in the institution.

Chairman of Greenwich Holdings, Kayode Falowo, attributed the strong performance to disciplined execution of the group’s strategic priorities, prudent risk management and operational efficiency.

He noted that despite prevailing inflationary pressures, the company maintained strict cost discipline while continuing to invest in technology, branch expansion and service delivery improvements.

Falowo further disclosed that Greenwich Merchant Bank achieved a zero non-performing loan ratio during the year, underscoring the quality of its loan portfolio and risk management framework.

According to him, the holding company structure has enhanced governance, improved capital allocation and positioned the group to unlock new growth opportunities across its subsidiaries.

A major milestone highlighted at the AGM was the progress toward commercial banking operations. Falowo revealed that Greenwich Merchant Bank has already secured Approval-in-Principle (AIP) for its conversion to a regional commercial bank and is currently awaiting completion of the final licensing process.

He expressed confidence that the transition would significantly expand the group’s market reach and deepen its participation in Nigeria’s banking industry.

Group Managing Director of Greenwich Holdings, Samson Ariyibi, said the company had completed the restructuring required to establish the financial holding company framework.

He explained that the group now comprises four subsidiaries: Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, Greenwich Securities Limited and Greenwich Capital Markets Limited.

Looking ahead, Ariyibi identified capital strengthening and subsidiary expansion as key priorities over the next two years. He noted that the Securities and Exchange Commission’s revised minimum capital requirements for Capital Market Operators would require additional capital injection into some subsidiaries ahead of the 2027 compliance deadline.

He said the group would pursue strategic capital raising initiatives to recapitalise the affected businesses while supporting its broader expansion agenda.

“The Group is dedicated to strengthening its capital base, expanding its presence in financial services and advancing its digital transformation agenda, while strategically positioning itself for sustained growth across its core business lines,” Ariyibi said.

With a planned transition into commercial banking, enhanced investment in capital market businesses and continued focus on digital innovation, Greenwich Holdings appears poised to build on its strong 2025 performance and consolidate its position as a leading financial services group in Nigeria.