Guaranty Trust Holding Company (GTCO) Plc has announced a profit before tax of N603.03 billion for the half-year ended June 30, 2026. The company's strong performance was driven by interest and trading income lines, which grew year-on-year by 7.5 per cent and 24.7 per cent, respectively. This growth was moderated by a N46.2 billion fair value loss recognized in H1, 2026, limiting year-on-year growth in profit before tax to 0.4 per cent.
The Group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. Total assets and shareholders’ funds closed at N18.6 trillion and N3.3 trillion, respectively. The growth was recorded in each jurisdiction where it operates a banking franchise, and across its Payments, Pension and Funds Management businesses. This indicates a strong and diversified financial services group.
The company's Capital Adequacy Ratio (CAR) remained very strong, closing at 34.9 per cent, while asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5 per cent and 4.6 per cent at Bank and Group Level in H1 2026 compared to 3.4 per cent and 5.0 per cent in full year, 2025. Cost of Risk improved to 0.6 per cent from 2.2 per cent. This suggests that the company has a robust risk management framework in place.
The Group’s Loan book (net) grew marginally by 0.5 per cent from N3.13 trillion as of December 2025 to N3.15 trillion in June 2026, while deposit liabilities grew by 10.3 per cent from N12.87 trillion to N14.19 trillion during the same period. This growth in deposits and loans indicates a strong and stable banking franchise.
Speaking on the results, the Group chief executive officer, GTCO, Mr. Segun Agbaje, highlighted the strength of the company's franchise, strong balance sheet and diversified business. He noted that fair value movements weighed on reported earnings, but the core business held firm. Agbaje emphasized that the priority now is to execute with discipline and grow responsibly.
Agbaje added that digital is the company's lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group. The company's focus on digital transformation is expected to drive growth and improve efficiency. The company's overall performance is a testament to its strong leadership and strategy.
The company's financial performance is reflected in its key metrics, including a Pre-Tax Return on Equity of 35.9 per cent, Pre-Tax Return on Assets of 6.6 per cent, CAR of 34.9 per cent and Cost to Income ratio of 31.5 per cent. The company has declared an interim dividend of N1 per share to its shareholders.
Key points
- GTCO Plc posted a profit before tax of N603.03 billion for the half-year ended June 30, 2026.
- The company's strong performance was driven by interest and trading income lines.
- The company has declared an interim dividend of N1 per share to its shareholders.
