GTBank has been one of the most outstanding banks in Africa over the past decade.
The company’s shares have been one of the high performers in the Nigerian Stock market much to the delight of its shareholders.
In terms of innovation in banking and financial services, the bank has been at the forefront with a bouquet of high-quality financial services.
Now, the bank is taking a big step by pivoting into a holding company structure, with its parent company called GTCO Plc.
Indeed, it’s exciting times for customers and shareholders of the bank.
If you are planning to buy the shares of GTBank, this article will show you how to do so using your smartphone in just 4 simple steps.
Buying GTBank Shares
If you have decided to buy GTBank/GTCO shares, then you’ve made the right choice.
According to metrics from the Nigerian Stock Exchange, GTBank is known as Nigeria’s most valuable bank.
In 2020, the bank made a profit after tax of 201.4 billion Naira, up from the previous year by 2.3%.
Little wonder GTBank is the Nigerian bank of choice for many stock investors.
What to do Before Buying GTBank Shares
Before you start buying GTBank/GTCO Plc shares, there are a few due diligence you need to perform so as to have a smooth purchase.
These are simple requirements that any serious stock trader should undertake before investing their money.
Know the share price
The first step you should take before buying GTBank/GTCO Plc shares is to know the current share price of the company.
That would help you know how much you are required to invest depending on the number of shares you are buying.
You can easily get the current GTBank share price on their website. The company is listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE).
Note that GTBank is now known as Guarantee Trust Holding Company, Plc and its stock ticker known as GTCO.
Know the associated brokerage fees
To buy shares of any company listed on the Nigerian Stock Exchange, you’d have to go through a broker.
Most broker charge a brokerage fees to buy or sell your shares, so you have to include that into your investment outlay.
Get a CSCS account
CSCS stands for Central Securities Clearing System. It is a type of stock trading account that gives you access to your shares irrespective of the brokerage you are dealing with.
So essentially, you would need a CSCS account with a stock broker to be able to buy your GTCO shares.
Buying GTBank Shares With Your Smartphone
With technology comes the ease of doing things, including accessing financial services, such as the stock market.
It is now possible to buy shares of a Nigerian company in the Nigerian Stock Exchange right with your phone from anywhere in the world.
There are a few apps that give you that superpower, but I recommend the Chaka app by Chaka.
Once you are ready to start buying GTBank/GTCO shares from your smartphone, simply follow the simple steps below.
Register With Chaka
The first step is to register an account with Chaka. It is absolutely free unlike most brokerages that would require an account opening fee.
You can register with Chaka via their website or their mobile app.
Do Your KYC Documentation
KYC documentation is a necessary step for using any financial services app, so you’d have to complete that before your account becomes active.
Once you complete your KYC with Chaka, you will be given a CSCS account number, which is your unique access to the Nigerian Stock Market.
Fund Your Account
Now that you have your CSCS account number, you can find your account with Chaka by using a debit card or making an online transfer.
As quick as lightning.
Once you have the funds approved in your account, you can start trading with it.
Buy your GTBank shares
Now, with the funds in your Chaka account, you can start buying your GTBank/GTCO shares right from your couch anywhere in the world.
Simple right?
Welcome to the 21st Century.