Greenwich Holdings Limited has outlined comprehensive plans to expand into retail commercial banking and reinforce its capital market operations following a strong 2025 financial performance, which saw its net profit surge by 71.3 per cent.
The financial services group disclosed its long-term growth roadmap during its Annual General Meeting in Lagos, where shareholders commended the board for delivering impressive returns in the company’s first full year operating under a financial holding structure.
According to audited financials presented to investors, gross earnings for the 2025 financial year surged 131.9 per cent to N64.23bn from the previous period. Profit before tax rose 71 per cent to N19.29bn, while profit after tax increased to N13.89bn against the N8.11bn recorded in 2024.
The group’s balance sheet also strengthened significantly, with total assets expanding 69 per cent to N309.12bn, while customer deposits climbed 80.5 per cent to N173.84bn, reflecting sustained consumer confidence.
Addressing shareholders at the meeting, the Chairman of Greenwich Holdings, Kayode Falowo, attributed the growth trajectory to tight risk parameters and structural changes, saying, “The holding company structure has significantly enhanced our corporate governance, improved capital allocation, and positioned the group to unlock new growth opportunities across our key subsidiaries.
“Despite prevailing inflationary pressures, the company maintained strict cost discipline while continuing to invest heavily in technology, branch expansion, and service delivery improvements. Notably, Greenwich Merchant Bank achieved a zero non-performing loan ratio during the year, underscoring the top-tier quality of our loan portfolio.”
He further revealed that Greenwich Merchant Bank has already secured an Approval-in-Principle from the Central Bank of Nigeria for its conversion into a regional commercial bank and is currently finalising the definitive licensing process.
Corroborating the chairman’s outlook on the future of the subsidiaries, the Group Managing Director of Greenwich Holdings, Samson Ariyibi, explained that the group is aggressively preparing for upcoming regulatory capital thresholds.
He said, “The group is completely dedicated to strengthening its capital base, expanding its presence in retail financial services, and advancing its digital transformation agenda while strategically positioning itself for sustained growth across its core business lines.
“Looking ahead, capital strengthening and subsidiary expansion remain our topmost priorities over the next two years. The Securities and Exchange Commission’s revised minimum capital requirements for Capital Market Operators will require additional capital injection into some of our subsidiaries ahead of the 2027 compliance deadline, and we are pursuing strategic capital raising initiatives to recapitalise the affected businesses.”
Shareholders at the meeting subsequently approved several key resolutions, including an explicit authorisation for management to increase the company’s authorised share capital, subject to final regulatory approvals.