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Guaranty Trust Holding Company Plc (GTCO) recorded a profit before tax (PBT) of N603.03 billion in the first half of 2026, representing a marginal 0.4 per cent increase over the corresponding period of 2025.
The group also declared an interim dividend of N1 per share to shareholders.
GTCO disclosed this in its audited consolidated and separate financial statements for the six months ended June 30, 2026, released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) yesterday.
The holding company said its performance was driven mainly by growth in interest and trading income, which rose by 7.5 per cent and 24.7 per cent year-on-year, respectively.
However, the gains were partly wiped out by a N46.2 billion fair value loss recorded during the period, limiting the growth in profit before tax to 0.4 per cent.
The group’s total assets increased to N18.6 trillion, while shareholders’ funds stood at N3.3 trillion as of June 2026.
GTCO also reported an improvement in asset quality, with Stage 3 loans, loans showing significant signs of default, falling to 3.5 per cent at the bank level and 4.6 per cent at the group level, compared with 3.4 per cent and 5.0 per cent respectively at the end of 2025.
Its cost of risk, which measures the cost banks incur from potential loan losses, also improved significantly to 0.6 per cent from 2.2 per cent in the same period of 2025.
The group’s capital adequacy ratio (CAR), a measure of a bank’s ability to absorb losses, remained strong at 34.9 per cent, while the banking subsidiary recorded 29.2 per cent.
GTCO’s net loan book increased marginally by 0.5 per cent from N3.13 trillion in December 2025 to N3.15 trillion in June 2026.
Deposits, however, recorded stronger growth, rising by 10.3 per cent from ₦12.87 trillion to N14.19 trillion within the six-month period.
The group’s pre-tax return on equity stood at 35.9 per cent, while pre-tax return on assets was 6.6 per cent. Its cost-to-income ratio was 31.5 per cent.
Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the strength of the group’s balance sheet and its growing operations beyond traditional banking.
He said fair value movements affected reported earnings, but added that the core business remained strong, with growth in interest and trading income, higher deposits and improved asset quality.
Agbaje said GTCO would focus on disciplined execution and responsible growth, with digital operations expected to drive expansion across its banking, payments, pension and funds management businesses.
GTCO operates banking and other financial services businesses across Africa and the United Kingdom.
