GTCO generates N600.9bn profit in six months, assets hit N16.7trn

Guaranty Trust Holding Company Plc (GTCO) has announced a profit before tax of ₦600.9 billion for the half-year ended June 30, 2025, despite the absence of the exceptional ₦493 billion fair value gains recorded in the same period of 2024.

According to its audited financial results released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), the Group’s performance was driven by robust growth in core earnings. Interest income rose year-on-year by 31.5 percent, while fee and commission income grew by 33 percent, cushioning the decline in profit when compared with last year’s extraordinary one-off gains.

The Group also recorded significant balance sheet growth, with total assets climbing to ₦16.7 trillion and shareholders’ funds hitting ₦3 trillion. Loan book (net) expanded by 20.5 percent to ₦3.36 trillion, while customer deposits grew by 16.6 percent from ₦10.4 trillion in December 2024 to ₦12.13 trillion by mid-2025.

Asset quality indicators improved, with IFRS 9 Stage 3 loans dropping to 3.2 percent at the Bank level and 4.5 percent at Group level, compared to 3.5 percent and 5.2 percent respectively at the end of 2024. Cost of Risk also improved to 1.7 percent from 4.9 percent, while the Group’s Capital Adequacy Ratio remained strong at 36.2 percent.

The Board of GTCO has approved an interim dividend of ₦1.00 per share for shareholders.

Group Chief Executive Officer, Segun Agbaje, described the performance as a reflection of the company’s resilience and progress in diversifying its business.

“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,” Agbaje said. “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 added that the Group’s continued investments in technology, including a comprehensive upgrade of its core banking systems, were already delivering improved efficiency and capacity to scale as its customer base expands.

In terms of industry metrics, GTCO reported a pre-tax return on equity of 60.4 percent, return on assets of 10.6 percent, cost-to-income ratio of 30.1 percent, and a capital adequacy ratio of 36.2 percent—figures that remain among the strongest in Nigeria’s financial services sector.

GTCO Plc operates across Africa and the United Kingdom, providing services in banking, payments, pension, and funds management.