Guaranty Trust records N303b profit in three months
Guaranty Trust Holding Company (GTCO) Plc recorded a pre-tax profit of about N303 billion in the first three months of this year, setting Nigeria’s most capitalized financial group on the
Guaranty Trust Holding Company (GTCO) Plc recorded a pre-tax profit of about N303 billion in the first three months of this year, setting Nigeria’s most capitalized financial group on the part of trillion naira operational profit.
Key extracts of the interim report and accounts of GTCO for the three-month period ended March 31, 2026 released at the Nigerian Exchange (NGX) showed that pre-tax profit rose from N300.3 billion in first quarter 2025 to N302.9 billion in first quarter 2026.
The growth was driven by strong performance posted on core earnings lines of interest income and fee income which grew by 17.5 per cent and 7.1 percent respectively. Earnings capacity was driven by 1.3 per cent growth in group’s net loan book from N3.13 trillion in December 2025 to N3.17 trillion in March 2026. This was supported by 6.3 per cent growth in deposit liabilities from N12.87 trillion to N13.69 trillion.
Total assets and shareholders’ funds closed at N18.7 trillion and N3.6 trillion, respectively. Capital Adequacy Ratio (CAR) closed at 39.5 per cent. Asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 4.4 per cent in first quarter 2026 as against 5.0 per cent by December 2025. Cost of Risk (COR) equally improved to 0.2 per cent from 2.2 per cent in December 2025.
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Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc, Mr. Segun Agbaje, said the group recorded growths across all its asset lines as it continued to maintain a well-structured, healthy liquid and diversified balance sheet in all the jurisdictions wherein it operates a banking franchise, as well as across its payments, pension and funds management business verticals.
He said: “Our first quarter 2026 results mark a defining shift in the quality and composition of our earnings, with strong underlying performance across our core banking operations and increasing contribution from our ecosystem businesses. Building on the momentum from prior periods, we delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.
“Our focus remains on driving sustainable earnings by deepening customer relationships, rapidly scaling our ecosystem businesses, and deploying technology to deliver simpler, faster, and more intuitive financial solutions. We see significant headroom across payments, wealth management, and banking, both in Nigeria and across our West and East African markets, and we are deliberately positioning the Group to capture these opportunities while sustaining strong, long-term value creation”.
He noted that the group continued to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios with pre-tax return on equity (ROAE) of 34.4 per cent, pre-tax return on assets (ROAA) of 6.6 per cent, Capital Adequacy Ratio (CAR) of 39.5 per cent and Cost to Income ratio of 31.5 per cent.
