Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of N603.03 billion for the half-year ended June 30, 2026, representing a 0.4 per cent increase over the N600.4 billion recorded in the corresponding period of 2025.
The financial services group also declared an interim dividend of N1 per share for the six-month period, subject to applicable regulatory approvals.
GTCO disclosed the results in its audited consolidated and separate financial statements released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The group attributed the performance to growth in interest and trading income, with interest income rising 7.5 per cent year-on-year and trading income increasing by 24.7 per cent.
However, a N46.2 billion fair value loss recognised during the period moderated the growth in reported earnings.
GTCO said its businesses recorded growth across key asset lines, supported by a liquid and diversified balance sheet, with contributions from both its banking and non-banking operations, including Payments, Pension and Funds Management.
The group’s total assets rose to N18.6 trillion, while shareholders’ funds stood at N3.3 trillion at the end of June 2026.
GTCO maintained a strong capital position, with its Capital Adequacy Ratio (CAR) closing at 34.9 per cent at the group level, compared with 29.2 per cent at the bank level.
Asset quality also improved, with IFRS 9 Stage 3 loans standing at 3.5 per cent at the bank level and 4.6 per cent at the group level, compared with 3.4 per cent and 5.0 per cent respectively at the end of 2025.
The group’s cost of risk declined significantly to 0.6 per cent in the first half of 2026 from 2.2 per cent in the corresponding period of the previous year.
GTCO’s net loan book increased marginally by 0.5 per cent, from N3.13 trillion at the end of December 2025 to N3.15 trillion in June 2026.
Customer deposits, however, recorded stronger growth, rising 10.3 per cent from N12.87 trillion to N14.19 trillion over the same period.
Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the strength of the group’s franchise, balance sheet and diversification beyond traditional banking.
Agbaje said while fair value movements affected reported earnings, the underlying business remained resilient, supported by growth in interest and trading income, stronger deposits and improved asset quality.
He said the group would remain focused on disciplined execution and responsible growth, with digitalisation serving as a key driver across its Banking, Payments, Pension and Funds Management businesses.
GTCO said it recorded a pre-tax return on equity of 35.9 per cent, pre-tax return on assets of 6.6 per cent and a cost-to-income ratio of 31.5 per cent during the period.
The group said its strong capital position, improved asset quality and diversified business model provided a solid foundation for continued growth across its financial services operations.
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