GTCO reports Q1 profit before tax of N302.9bn

Guaranty Trust Holding Company Plc (GTCO) has released its Unaudited Consolidated and Separate Financial Statements as of March 31, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

The Group posted Profit Before Tax (PBT) of N302.9billion on the back of strong performance posted on the core earnings lines of interest income and fee income which grew y-o-y by 17.5 percent and 7.1 percent respectively.

Earnings capacity was driven by 1.3 percent growth in the Group’s loan book (net) from N3.13trillion as of December 2025 to N3.17trillion in March 2026, enabled by 6.3 percent growth in deposit liabilities from N12.87trillion to N13.69trillion during the same period.

Total assets and shareholders’ funds closed at N18.7trillion and N3.6trillion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 39.5 percent, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 4.4 percent in Q1-2026 (5 percent in December 2025). Cost of Risk (COR) equally improved to 0.2 percent from 2.2 percent in December 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 34.4 percent, Pre-Tax Return on Assets (ROAA) of 6.6 percent, Capital Adequacy Ratio (CAR) of 39.5 percent and Cost to Income ratio of 31.5 percent.

The Group recorded growths across all its Asset lines and continues to maintain a well-structured, healthy liquid 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.

Commenting on the results, Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company Plc said: “Our Q1 2026 results mark a defining shift in the quality and composition of our earnings, with strong underlying performance across our core banking operations and increasing contribution from our ecosystem businesses. Building on the momentum from prior periods, we delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.

He further added: “Our focus remains on driving sustainable earnings by deepening customer relationships, rapidly scaling our ecosystem businesses, and deploying technology to deliver simpler, faster, and more intuitive financial solutions. We see significant headroom across payments, wealth management, and banking, both in Nigeria and across our West and East African markets, and we are deliberately positioning the Group to capture these opportunities while sustaining strong, long-term value creation.”