Guaranty Trust Holding Company Plc (GTCO) has announced a profit before tax (PBT) of N603.03 billion for the first half of 2026, representing a marginal 0.4% increase over the corresponding period of 2025. This growth was driven mainly by an increase in interest and trading income. The company's financial statements for the six months ended June 30, 2026, were released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The group's performance was also influenced by a N46.2 billion fair value loss recorded during the period, which limited the growth in profit before tax. Despite this, GTCO's total assets increased to N18.6 trillion, while shareholders' funds stood at N3.3 trillion as of June 2026. The company's board declared an interim dividend of N1 per share to shareholders.
GTCO reported an improvement in asset quality, with Stage 3 loans, which show significant signs of default, falling to 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 company's cost of risk, which measures the cost banks incur from potential loan losses, also improved significantly to 0.6% from 2.2% in the same period of 2025.
The group's capital adequacy ratio (CAR), a measure of a bank's ability to absorb losses, remained strong at 34.9%, while the banking subsidiary recorded 29.2%. GTCO's net loan book increased marginally by 0.5% from N3.13 trillion in December 2025 to N3.15 trillion in June 2026. Deposits, however, recorded stronger growth, rising by 10.3% from ₦12.87 trillion to N14.19 trillion within the six-month period.
GTCO's pre-tax return on equity stood at 35.9%, while pre-tax return on assets was 6.6%. The company's cost-to-income ratio was 31.5%. The group's performance reflects the strength of its balance sheet and growing operations beyond traditional banking.
Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the strength of the group's balance sheet and its growing operations. He noted that fair value movements affected reported earnings, but added that the core business remained strong, with growth in interest and trading income, higher deposits, and improved asset quality.
Agbaje stated that GTCO would focus on disciplined execution and responsible growth, with digital operations expected to drive expansion across its banking, payments, pension, and funds management businesses. The company operates banking and other financial services businesses across Africa and the United Kingdom.
Key points
- GTCO reports N603.03 billion profit before tax for H1 2026, a 0.4% increase from 2025.
- The company declares an interim dividend of N1 per share to shareholders.
- GTCO's total assets increase to N18.6 trillion, while shareholders' funds stand at N3.3 trillion as of June 2026.
