Business
GTCO Hits ₦603bn Profit, Deposits Rise To ₦14.19tn
supported by growth in interest income and trading income,
Guaranty Trust Holding Company Plc (GTCO) recorded a profit before tax (PBT) of ₦603.03 billion in its audited half-year 2026 results, while customer deposits rose 10.3 percent to ₦14.19 trillion.
The Group, in its results released to the Nigerian Exchange Group and London Stock Exchange, said the performance was supported by growth in interest income and trading income, which increased by 7.5 percent and 24.7 percent year-on-year respectively.
However, a ₦46.2 billion fair value loss moderated growth in PBT to 0.4 percent compared with the corresponding period.
GTCO’s total assets rose to ₦18.6 trillion, while shareholders’ funds stood at ₦3.3 trillion. Its capital adequacy ratio remained strong at 34.9 percent, compared with 29.2 percent at bank level.
Asset quality also improved, with Group IFRS 9 Stage 3 loans declining to 4.6 percent from 5.0 percent at the end of 2025. Cost of risk fell to 0.6 percent from 2.2 percent.
The Group’s net loan book increased marginally to ₦3.15 trillion from ₦3.13 trillion in December 2025.
GTCO also declared an interim dividend of ₦1 per share.
Commenting on the results, Segun Agbaje, Group Chief Executive Officer, said the performance reflected the strength of the Group’s balance sheet and its expanding non-banking businesses.
“Fair value movements weighed on reported earnings, but the core business held firm,” Agbaje said, adding that digital capabilities would remain a key lever for scaling the Group’s banking, payments, pension and funds management businesses.
GTCO reported a pre-tax return on equity of 35.9 percent, return on assets of 6.6 percent and a cost-to-income ratio of 31.5 percent.
