Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax (PBT) of N603.03 billion for the half-year ended June 30, 2026, supported by growth in interest and trading income.
The Group disclosed its Audited Consolidated and Separate Financial Statements for the period to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE) recently.
The results show interest income rose 7.5% year-on-year, while trading income rose 24.7%. However, the earnings growth was moderated by a N46.2 billion fair value loss recognised in the first half of 2026, resulting in a 0.4% year-on-year increase in profit before tax.
GTCO also recorded growth across its asset lines, strengthening a balance sheet that remained liquid and diversified. The growth cut across the jurisdictions where the Group operates banking franchises, as well as its Payments, Pension and Funds Management businesses.
The Group’s total assets rose to N18.6 trillion, while shareholders’ funds stood at N3.3 trillion at the end of the period.
Capital Adequacy Ratio (CAR) remained strong at 34.9% at Group level and 29.2% for the Bank. Asset quality also improved during the period, with IFRS 9 Stage 3 loans declining to 3.5% at Bank level and 4.6% at Group level, compared with 3.4% and 5.0%, respectively, at the end of 2025.
Cost of Risk (COR) also improved significantly, falling to 0.6% from 2.2% recorded during the comparable period.
The Group’s net loan book increased marginally by 0.5%, from N3.13 trillion in December 2025 to N3.15 trillion in June 2026. Deposit liabilities, however, recorded stronger growth, rising by 10.3% from N12.87 trillion to N14.19 trillion over the same period.
Commenting on the results, Group Chief Executive Officer of GTCO Plc, Segun Agbaje, said the performance reflected the strength of the Group’s franchise and balance sheet, while highlighting the growing contribution of its non-banking businesses.
“Our half-year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level,” Agbaje said.
He added that the Group would focus on disciplined execution and responsible growth, with digital capabilities driving growth across its banking, payments, pension, and funds management businesses.
“The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group,” he said.
GTCO’s key financial ratios remained strong during the period, with a pre-tax return on equity (ROAE) of 35.9%, pre-tax return on assets (ROAA) of 6.6%, capital adequacy ratio of 34.9% at Group level and 29.2% for the Bank, while the cost-to-income ratio stood at 31.5%.