Guaranty Trust Holding Company Plc, a leading financial services company in Nigeria, has released its audited consolidated and separate financial statements for the period ended June 30, 2026. The company reported a profit before tax of N603.03 billion, driven primarily by revenue growth across interest and trading income lines. The growth in interest income was 7.5 percent year-on-year, while trading income expanded by 24.7 percent.
Despite the revenue growth, the company's profit before tax growth was moderated by a N46.2 billion fair value loss recognised in the first half of the year. This resulted in a 0.4 percent year-on-year growth in profit before tax. The company's asset base expanded across core operational lines, reinforcing a balanced, liquid, and diversified financial structure. The group expanded its presence across all geographic jurisdictions housing its banking franchises.
The company's total assets reached N18.6 trillion, while shareholders' funds rose to N3.3 trillion by the close of the half-year period. The capital adequacy ratio remained strong at 34.9 percent for the group and 29.2 percent for the bank entity. This indicates a strong financial position for the company. The company's asset quality also improved during the period under review.
The International Financial Reporting Standard 9 Stage 3 non-performing loans closed at 3.5 percent at the bank level and 4.6 percent at the group level. This is compared to 3.4 percent and 5.0 percent recorded in the full-year 2025. The group's cost of risk dropped significantly to 0.6 percent from 2.2 percent in the corresponding period. This indicates a significant improvement in asset quality.
The net loan book posted a marginal 0.5 percent expansion from N3.13 trillion in December 2025 to N3.15 trillion in June 2026. Customer deposit liabilities registered a 10.3 percent growth from N12.87 trillion to N14.19 trillion over the same window. This indicates a strong deposit base for the company. The company's liquidity position remains strong.
Segun Agbaje, the Group Chief Executive Officer of GTCO Plc, commented on the financial outcome. He stated that the half-year results demonstrate the strength of the company's franchise, strong balance sheet, and diversified business. The company prioritises executing with discipline and growing responsibly. Digital is a key lever for scaling across banking, payments, pension, and funds management.
The company's key financial ratios for the period demonstrated operational efficiency. The pre-tax return on average equity stood at 35.9 percent, pre-tax return on average assets at 6.6 percent, and a cost-to-income ratio of 31.5 percent. The holding company continues to maintain banking and non-banking operations across Africa and the United Kingdom. The company operates in payments, fund management, and pension fund administration.
Key points
- GTCO Plc reported a profit before tax of N603.03 billion for the first half of 2026.
- The company's total assets reached N18.6 trillion, while shareholders' funds rose to N3.3 trillion.
- The company's capital adequacy ratio remained strong at 34.9 percent for the group and 29.2 percent for the bank entity.
