GTCO reports N600.9bn pre-tax profit in H1’25

Guaranty Trust Holding Company Plc has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2025.

The results released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) show the Group recorded profit before tax (PBT) of N600.9billion on the back of strong performance on core earning lines of interest income and fee income, which grew year-on-year (y-o-y) by 31.5 percent and 33 percent, respectively.

The strong core-earning performance doused the impact of the N493.01billion fair value gains recognised in H1-2024 which did not recur in H1-2025, thereby narrowing y-o-y dip in PBT to 40 percent.

The Group recorded growth across all its asset lines and continues to maintain a well-structured, de-risked, and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals.

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Total assets and shareholders’ funds closed at N16.7trillion and N3.0trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 36.2 percent. Asset quality also improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.2 percent at bank level and 4.5 percent at Group in H1-2025 (Bank -3.5 percent (Group- 5.2 percent in December 2024) and Cost of Risk (COR) improved to 1.7 percent from 4.9 percent in December 2024.

In specific term, the Group’s loan book (net) grew by 20.5 percent from N2.79trillion position of December 2024 to N3.36trillion in June 2025.

Similarly, deposit liabilities grew by 16.6 percent from N10.40trillion to N12.13trillion during the same period. The Board approved an interim dividend of N1 per share for H1-2025.

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios that is: Pre-Tax Return on Equity (ROAE) of 60.4 percent, Pre-Tax Return on Assets (ROAA) of 10.6 percent, Capital Adequacy Ratio (CAR) of 36.2 percent and Cost to Income ratio of 30.1 percent.

Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company Plc while commenting on the results said: “Our half year performance reflects the strength of our core business and the progress we 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”.

He said, “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 added: “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.”