GTCO assets hit N18tn, equity reaches N3tn

Guaranty Trust Holding Company Plc. Photo: GTCO

Guaranty Trust Holding Company Plc has released its audited consolidated and separate financial statements for the period ended 30 June, 2026, to the Nigerian Exchange Group and the London Stock Exchange, reporting a profit before tax of N603.03bn.

The financial performance was primarily driven by revenue growth across interest and trading income lines, which expanded year-on-year by 7.5 per cent and 24.7 per cent, respectively.

However, top-line growth was moderated by a N46.2bn fair value loss recognised in the first half of the year, capping overall profit before tax growth at 0.4 per cent year-on-year.

The group expanded its asset base across core operational lines, reinforcing a balanced, liquid, and diversified financial structure. Balance sheet growth was recorded across all geographic jurisdictions housing its banking franchises, alongside contributions from its payments, pension, and funds management subsidiaries.

By the close of the half-year period, total assets reached N18.6tn while shareholders’ funds rose to N3.3tn. Capital adequacy ratio remained strong at 34.9 per cent for the group and 29.2 per cent for the bank entity.

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Asset quality improved during the period under review, with International Financial Reporting Standard 9 Stage 3 non-performing loans closing at 3.5 per cent at the bank level and 4.6 per cent at the group level, compared to 3.4 per cent and 5.0 per cent recorded in full-year 2025.

Concurrently, the group’s cost of risk dropped significantly to 0.6 per cent from 2.2 per cent in the corresponding period. The net loan book posted a marginal 0.5 per cent expansion from N3.13tn in December 2025 to N3.15tn in June 2026, while customer deposit liabilities registered a 10.3 per cent growth from N12.87tn to N14.19tn over the same window.

‎Commenting on the financial outcome, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, said, “Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm.

‎Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”

‎Key financial ratios for the period demonstrated operational efficiency, with pre-tax return on average equity standing at 35.9 per cent, pre-tax return on average assets at 6.6 per cent, and a cost-to-income ratio of 31.5 per cent. The holding company continues to maintain banking and non-banking operations across Africa and the United Kingdom, spanning payments, fund management, and pension fund administration.