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, representing a marginal 0.4 per cent increase from the corresponding period in 2025.
The holding company also declared an interim dividend of N1 per share for the six-month period, subject to applicable regulatory approvals.
GTCO, in its audited consolidated and separate financial statements released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), said the performance was driven by growth in interest and trading income.
Interest income increased by 7.5 per cent year-on-year, while trading income rose by 24.7 per cent. However, a N46.2 billion fair value loss recognised during the period moderated the growth in reported earnings.
The Group said its businesses recorded growth across key asset lines, supported by a well-structured, liquid and diversified balance sheet. It added that the growth was achieved across its banking operations and non-banking businesses, including Payments, Pension and Funds Management.
GTCO’s total assets increased to N18.6 trillion, while shareholders’ funds stood at N3.3 trillion at the end of June 2026.
The Group maintained a strong capital position, with its Capital Adequacy Ratio (CAR) closing at 34.9 per cent, compared with 29.2 per cent at the bank level.
Asset quality also improved during the period, with IFRS 9 Stage 3 loans declining to 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, according to the company.
Cost of risk improved significantly to 0.6 per cent in H1 2026 from 2.2 per cent in the corresponding period.
The Group’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.
In contrast, customer deposits recorded stronger growth, rising by 10.3 per cent from N12.87 trillion to N14.19 trillion over the same period.
Commenting on the results, GTCO’s Group Chief Executive Officer, Segun Agbaje, said the half-year performance reflected the strength of the Group’s franchise, balance sheet and diversification beyond traditional banking.
He said fair value movements affected reported earnings, while the underlying business remained resilient, with growth in interest and trading income, stronger deposits and improved asset quality.
Agbaje added that the Group would focus 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 continued to record strong financial ratios, with pre-tax return on equity (ROAE) of 35.9 per cent, pre-tax return on assets (ROAA) of 6.6 per cent and a cost-to-income ratio of 31.5 per cent.
The Group said its strong capital position, improved asset quality and diversified business model provide a solid foundation for continued growth across its financial services operations.
