GTCO has reported ₦603bn Profit Before Tax and grow deposits to ₦14.2trn in H1 2026.
NewsOnline Nigeria reports that Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax (PBT) of ₦603.03 billion for the half year ended June 30, 2026, as the financial services group recorded growth in interest and trading income.
GTCO disclosed the results in its Audited Consolidated and Separate Financial Statements released to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE).
The Group’s profit before tax increased marginally by 0.4% year-on-year, despite strong underlying performance, following a ₦46.2 billion fair value loss recognised during the first half of 2026.
According to the financial statements, interest income increased by 7.5% year-on-year, while trading income grew by 24.7%, supporting the Group’s earnings during the period.
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GTCO also recorded growth across its major asset lines, with total assets rising to ₦18.6 trillion, while shareholders’ funds closed at ₦3.3 trillion.
The Group maintained a strong capital position, with its Capital Adequacy Ratio (CAR) standing at 34.9%, compared with 29.2% at the bank level.
Asset quality also improved during the period. IFRS 9 Stage 3 loans stood at 3.5% at the bank level and 4.6% at the Group level, compared with 3.4% and 5.0%, respectively, at the end of 2025.
The Group’s Cost of Risk (COR) also declined significantly to 0.6%, compared with 2.2% recorded during the corresponding period.
GTCO’s net loan book increased marginally by 0.5%, from ₦3.13 trillion in December 2025 to ₦3.15 trillion in June 2026.
However, deposits recorded stronger growth, increasing by 10.3% from ₦12.87 trillion at the end of 2025 to ₦14.19 trillion by June 2026.
Commenting on the results, Group Chief Executive Officer of GTCO Plc, Segun Agbaje, said the performance reflected the resilience of the Group’s franchise and balance sheet.
“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,” Agbaje said.
He noted that fair value movements affected reported earnings, while the Group’s core business continued to record growth in interest and trading income, deposits and asset quality.
“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 added.
GTCO reported a pre-tax return on equity (ROAE) of 35.9%, pre-tax return on assets (ROAA) of 6.6%, and a cost-to-income ratio of 31.5%.
The financial services group operates across Africa and the United Kingdom, with interests spanning banking, payments, pension fund administration and funds management.
