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Guaranty Trust Holding Company Plc (GTCO) recorded a 4.4 per cent growth in net core earnings to N1.505 trillion in the nine months ended September 30, 2026, as its total assets rose to N18.37 trillion, reflecting sustained growth in its core business and balance sheet.
The financial services group disclosed this in its unaudited nine-month results submitted to the Nigerian Exchange Limited and the London Stock Exchange.
GTCO’s total assets increased by 3.5 per cent from N17.76 trillion at the end of December 2025 to N18.37 trillion in September 2026, while deposit liabilities grew by 8.6 per cent to N13.98 trillion from N12.87 trillion over the same period.
The growth in deposits underscored the group’s continued ability to attract customer funds, while its capital position remained strong, with a capital adequacy ratio of 34.2 per cent at group level and 33.9 per cent at the banking subsidiary.
The group also recorded improvements in asset quality and risk management. Its Stage 3 loans ratio, which measures credit-impaired loans, declined to four per cent from five per cent at the end of 2025. At the bank level, the ratio remained at 3.4 per cent.
Similarly, the cost of risk fell to 0.9 per cent from 2.2 per cent, while coverage for credit-impaired loans improved to 130.7 per cent from 106.9 per cent.
GTCO’s core earnings performance was supported by growth across key income lines. Interest income rose by five per cent year-on-year, while fees and commission income increased by 1.4 per cent and trading income grew by 3.1 per cent.
However, the group’s profit before tax moderated to N879.9 billion from N900.8 billion in the corresponding period of 2025, representing a 2.3 per cent decline. The performance reflected, among other factors, a fair value loss of N87.9 billion recognised during the period.
Profit after tax also fell to N614.6 billion from N699.6 billion in the corresponding period last year. The group attributed the decline partly to changes in Companies Income Tax regulations that affected capital allowance reliefs.
Despite the pressure on reported profits, GTCO maintained a strong return profile, posting a pre-tax return on average equity of 34 per cent and a pre-tax return on average assets of 6.5 per cent. Its cost-to-income ratio stood at 31.2 per cent.
Commenting on the results, the Group Chief Executive Officer, Mr Segun Agbaje, said the performance demonstrated the strength of a business built on scale, efficiency and discipline.
He said the group continued to grow its core earnings and deposit base despite a challenging operating environment and significant fair value losses, adding that its balance sheet remained strong, liquid and well-capitalised.
Agbaje said GTCO would continue to pursue attractive risk-free returns and market opportunities while protecting the quality of its loan portfolio.
He added that the group would keep adapting its platforms to new technologies and changing customer needs, with a focus on delivering sustainable value and superior returns to shareholders.
Meanwhile, GTCO has introduced Google Pay for GTBank customers and businesses using the Squad payment platform, enabling customers to make online payments with their saved debit cards.
The launch, announced on Tuesday, allows customers of Guaranty Trust Bank Limited (GTBank) to add eligible debit cards to Google Wallet and use Google Pay to pay for goods and services online, both in Nigeria and internationally.
At the same time, businesses using Squad, the payment gateway operated by GTCO’s payments subsidiary, HabariPay, can now accept Google Pay from customers at checkout.
Under the arrangement, GTBank customers only need to add their eligible debit cards to Google Wallet once. They can then select Google Pay when making online payments without repeatedly entering their card numbers, expiry dates and security codes.
The service uses a digital token in place of the actual card number, helping to protect customers’ card details during transactions.
Customers can use the service for online purchases, travel bookings, food delivery, subscriptions, bill payments and other digital services wherever Google Pay is accepted.
For businesses, Google Pay has been added to the Squad checkout alongside existing payment options, including cards, bank transfers, USSD and bank payments.
Customers can select Google Pay, choose a saved card and confirm payment, while the system verifies the transaction and returns them to the merchant’s website.
GTCO said Google Pay is enabled by default for businesses using Squad, although merchants can choose to switch it off.
Businesses set up to receive international payments can also accept Google Pay from customers around the world, including Nigerians in the diaspora.
Speaking on the launch, GTCO Group Chief Executive Officer, Segun Agbaje, said the service would make digital payments easier for customers and businesses.
“Most failed online payments are not refused, they are abandoned. Somewhere along the way the customer gives up, and the business never learns about the sale it lost,” he said.
Agbaje added that the group was committed to providing payment solutions that make transactions safe and simple.
“With Google Pay, what matters to us is that we are ready on both sides from the first day: a GTBank customer can pay with it, and a business on Squad can accept it,” he said.
He said the launch demonstrated how GTCO’s banking and payments businesses could work together to improve customers’ experience.
The Managing Director of HabariPay, Eduofon Japhet, said the integration would reduce the number of steps customers must complete when paying online.
“For a merchant, every extra field at checkout is a reason for a customer to leave. Squad businesses now get Google Pay inside the checkout they already use, so their customers can pay in a few taps with a card they have already saved,” she said.
Japhet added that merchants configured for international payments could receive Google Pay transactions from customers anywhere in the world without having to integrate a new system.
GTCO said eligible GTBank customers could add their debit cards through the Google Wallet app on Android devices or through their Google accounts.
