Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of N600.9 billion for the first half of 2025, underlining the strength of its core banking and financial services operations despite the absence of last year’s windfall from fair value gains.
The Board of Directors has also declared an interim dividend of N1.00 per share, reinforcing its commitment to delivering consistent shareholder value.
The half-year audited results, released to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), paint a picture of a financial powerhouse consolidating on its fundamentals. Interest income surged by 31.5 per cent, while fee and commission income expanded by 33 per cent, cushioning the impact of the N493.01 billion fair value gains recorded in H1 2024, which did not recur in the current period. As a result, the Group’s pre-tax earnings narrowed by 40 per cent year-on-year.
Yet, the numbers speak to resilience. GTCO’s balance sheet remains robust and diversified, spanning banking, payments, pensions, and funds management across its operating jurisdictions.
Total assets climbed to N16.7 trillion, while shareholders’ funds closed at N3 trillion. Its Capital Adequacy Ratio (CAR) stood at an enviable 36.2 per cent, well above regulatory thresholds, affirming the Group’s financial solidity.
The Group continued to expand lending and deepen customer deposits. Net loans rose by 20.5 per cent to N3.36 trillion from N2.79 trillion at year-end 2024, reflecting sustained support to the real economy. Deposit liabilities grew by 16.6 per cent to N12.13 trillion, underpinned by customer confidence in GTCO’s franchise.
Asset quality showed marked improvement. Nonperforming loans, measured by IFRS 9 Stage 3 Loans, declined to 3.2 per cent at the bank level and 4.5 per cent at Group level, from 3.5% and 5.2 per cent respectively in December 2024.
The Cost of Risk improved sharply to 1.7 per cent from 4.9 per cent in the same period, demonstrating better risk management and loan book quality.
Commenting on the results, Group Chief Executive Officer, Segun Agbaje, said the performance highlighted the Group’s capacity to build sustainable earnings beyond last year’s extraordinary oneoff gains.
