Nigeria's GTCO acquires Investment One's pension and asset management businesses

  • The acquisition is, in fact, a re-acquisition. GTCO sold these subsidiaries to Investment One in 2011

  • The businesses have smaller AUMs than GTCO's banking peers. We do not rule out the possibility of further acquisitions

  • Given the small size of the new businesses, we still expect banking to be the major driver of earnings in the short term
February 9th, 2022
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