Guaranty Trust Holding Company (GTCO) is expanding its use of renewable energy across its operations, with 2.58% of its facilities now powered entirely by renewable sources as the financial services group works towards cutting greenhouse-gas emissions by 20% over the next five years.
The disclosure was contained in GTCO’s audited financial statements for the half-year ended June 30, 2026. The group said more of its wholly owned buildings are undergoing energy assessments to determine where additional facilities can transition to renewable energy.
GTCO’s latest figures also show that 3.5% of its banking subsidiary’s ATMs are powered by solar energy, while 10% of its banking locations are connected to dedicated power lines. Another 3.13% have received approval for dedicated connections.
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GTCO is assessing more buildings for renewable-energy transition
GTCO said the renewable-energy rollout forms part of its broader effort to reduce the environmental footprint of its operations.
“2.58% of GTCO’s facilities are now entirely powered by renewable energy sources, with more wholly owned buildings undergoing energy assessments to evaluate further transition opportunities,” the group stated in its financial statements.
The group’s sustainability strategy goes beyond switching individual facilities to renewable power. GTCO said it is targeting a 20% reduction in greenhouse-gas emissions over the next five years, alongside a 30% reduction in non-recyclable waste across its operations.
The company is also using operational changes to reduce energy consumption and emissions, including timely branch closures, virtual meetings, reduced business travel, duplex printing and increased use of digital documentation.
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Solar now powers 3.5% of GTCO’s ATMs
The renewable-energy transition is also extending to GTCO’s ATM network.
The group said 3.5% of its banking subsidiary’s ATMs are currently powered by solar energy, reducing their reliance on conventional electricity. Its flagship banking subsidiary has also mapped locations where dedicated power supply lines can be accessed.
GTCO said 10% of its banking locations are already connected to dedicated power lines, while another 3.13% have received approval for connection.
The figures show that GTCO’s energy transition is taking place through a combination of renewable power, dedicated electricity infrastructure and energy-efficiency measures rather than a single power source.
GTCO also disclosed that all 15 of its offsite locations are powered by a combination of solar energy and the national grid, while 57 ATMs and communication equipment are powered by alternative energy sources, including solar.
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Nigeria’s power costs are pushing businesses towards alternatives
GTCO’s transition comes as businesses in Nigeria continue to contend with the cost and reliability of electricity supply.
Nigeria’s energy inflation rate rose to 4.69% in August 2026 from 4.40% in July, according to the August 2026 Consumer Price Index report from the National Bureau of Statistics.
For companies operating large physical networks, unreliable grid supply can also increase dependence on backup power sources, adding fuel and maintenance costs to electricity expenses.
GTCO’s latest disclosure does not state how much the group has saved through its renewable-energy investments, so the financial impact of the transition cannot yet be quantified from the filing.
The company’s figures instead show the scale of its current transition and the targets it has set for further reductions in emissions and waste.
GTCO’s wider business expanded alongside the energy transition
The renewable-energy disclosure comes as GTCO continues to expand its broader financial-services business.
For the six months ended June 30, 2026, the group recorded ₦603.03 billion in profit before income tax, compared with ₦600.90 billion in the same period of 2025. GTCO’s half-year results showed that Interest income grew 7.5% year-on-year, while trading income increased by 24.7%.
Commenting on the results, GTCO Group Chief Executive Officer Segun Agbaje said the group was focused on building a more diversified financial-services business.
“Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone,” Agbaje said.
He added that “Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”
GTCO’s financial statements show that the group operates banking, payments, pension and asset-management businesses, with operations across Nigeria, other African markets and the UK. Its shares are listed on both the Nigerian Exchange and the London Stock Exchange.
For its sustainability programme, the next step is to assess more wholly owned buildings for renewable-energy conversion while continuing to work towards its five-year emissions and waste-reduction targets.