Guaranty Trust Holding Company Plc (GTCO) has reported profit before tax of N169.7 billion, representing an increase of 11.7 per cent over N151.9 billion recorded in the corresponding period of 2021.
GTCO made this known via its unaudited consolidated and separate financial statements for the period which ended on September 30 to the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE) and released on Wednesday.
The Group reported profit before tax of N169.7 billion, representing an increase of 11.7 per cent over N151.9 billion recorded in the corresponding period of 2021.
The group’s loan book (net) increased by 2.2 per cent from N1.80 trillion recorded as at December 2021 to N1.84 trillion in September 2022, while deposit liabilities increased by 6.4 per cent from N4.13 trillion in December 2021 to N4.39 trillion in September 2022.
The group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at N5.81trillion and N872.8 billion, respectively.
READ ALSO: GTCO rakes in N169.7bn profit in 9 months
Strong Capital Ratios and Asset Quality were sustained as CAR, NPL ratio, and Cost of Risk (COR) closed at 20.7 per cent, 5.6 per cent, and 0.2 per cent in September from 23.8 per cent, 6.0 per cent, and 0.5 per cent in December 2021, respectively.
Speaking on the results, the Group Chief Executive Officer of GTCO, Segun Agbaje, said: “The group’s third quarter result reaffirms our strategy for long-term growth and underscores our capacity to deliver sustainable strong performance despite the volatilities in our operating environment.
“We have also kept in focus our vision of supporting small and medium enterprises specifically through our free business platforms to help them stay in business and expand their offerings.
“With our non-banking businesses fully operational alongside our core banking subsidiary, we are well positioned to maximise our earnings potential going into the fourth quarter of the year.”
He further stated that the goal of the bank was to offer great experiences to all who interacted with its brand, whilst continually enhancing access to innovative financial solutions for individuals and businesses across Africa.
“We are appreciative of all our customers and other stakeholders who are with us on this journey of building a truly global African financial services institution,” Agbaje said.
He added that overall, the group continued to post one of the best metrics in the Nigerian financial services industry.
This, he said, included Pre-Tax Return on Equity (ROAE) of 25.8 per cent, Pre-Tax Return on Assets (ROAA) of four per cent, Full Impact Capital Adequacy Ratio (CAR) of 20.7 per cent and Cost to Income ratio of 45.1 per cent.
- 2 dead, 2 injured in Lagos accidents - December 8, 2025
- Warner Bros: Paramount makes $108.4bn offer to outbid Netflix - December 8, 2025
- NSCDC officer jailed for certificate forgery - December 8, 2025
