H1: GTCO reports N600.9bn PBT as core earnings drive sustainable growth

Guaranty Trust Holding Company Plc (GTCO) has released its audited consolidated and separate financial statements for the half year ended June 30, 2025, reporting a profit before tax (PBT) of N600.9 billion, supported by strong growth in its core earnings.

The financial statements, submitted to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), showcased resilient performance and robust balance sheet growth despite the absence of last year’s one-off gains.

The Group’s interest income rose 31.5 percent year-on-year, while fee and commission income climbed 33.0 percent, helping to cushion the impact of the N493.01 billion fair value gains recorded in H1 2024, which did not recur in the current period. Consequently, PBT declined 40 percent year-on-year, reflecting the exceptional base effect from the previous year.

GTCO recorded growth across all key asset lines while maintaining a well-structured, de-risked, and diversified balance sheet across its banking and non-banking businesses.

Total assets closed at N16.7 trillion, while shareholders’ funds stood at N3.0 trillion.

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The Group’s Capital Adequacy Ratio (CAR) remained strong at 36.2 percent, far exceeding regulatory requirements. Asset quality also improved, with IFRS 9 Stage 3 loans reducing to 3.2 percent at the Bank level and 4.5 percent at the Group level, compared to 3.5 percent and 5.2 percent, respectively, in December 2024. Cost of Risk (COR) improved significantly to 1.7 percent from 4.9 percent over the same period.

Lending activity remained solid, with the Group’s net loan book rising 20.5 percent from N2.79 trillion in December 2024 to N3.36 trillion in June 2025. Deposit liabilities also increased 16.6 percent to N12.13 trillion, up from N10.40 trillion at year-end 2024.

In recognition of this performance, the Board approved an interim dividend of N1.00 per share for H1 2025.

Commenting on the results, Mr. Segun Agbaje, Group Chief Executive Officer, said the half-year performance reflected the strength of GTCO’s core business and the progress the Board and management are making in building a truly diversified financial services ecosystem.

“Beyond the extraordinary one-off gains of last year, we are now driving sustainable growth with recurring earnings that highlight the resilience and scalability of our model. A key driver of this momentum is our continued investment in technology, particularly the comprehensive upgrade of our core banking systems, which is already delivering stronger uptime, greater efficiency, and increased capacity to scale as our customer base grows,” he said.

“Across Banking, Funds Management, Pension, and Payments, we are leveraging a fully de-risked balance sheet to reinforce our market position while maintaining strategic flexibility for growth. This foundation positions us to take advantage of emerging opportunities and deliver lasting value for all stakeholders,” Agbaje added.

NIGERIAN TRIBUNE