By Daniel Oluwatobiloba Popoola
Guaranty Trust Holding Company Plc (GTCO) has posted a profit before tax of N603.03 billion for the half-year ended June 30, 2026, driven by strong growth in interest and trading income, even as a N46.2 billion fair value loss moderated overall earnings growth.
The Group disclosed this in its Audited Consolidated and Separate Financial Statements released to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE) on Monday, 28 September, 2026, in Lagos and London.
According to the results, interest and trading income grew year-on-year by 7.5 per cent and 24.7 per cent respectively, though the recorded fair value loss limited overall year-on-year growth in profit before tax to 0.4 per cent.
The Group explained that it recorded growth across its asset lines, reinforcing a balance sheet described as well-structured, liquid and diversified, with growth recorded in every jurisdiction where it operates a banking franchise, as well as across its Payments, Pension and Funds Management businesses.
According to the statement, the Group’s total assets and shareholders’ funds closed at N18.6 trillion and N3.3 trillion respectively, while its Capital Adequacy Ratio (CAR) remained strong at 34.9 per cent (Bank: 29.2 per cent).
It disclosed that asset quality improved, as evidenced by IFRS 9 Stage 3 Loans, which closed at 3.5 per cent and 4.6 per cent at the Bank and Group levels respectively in H1-2026, compared with 3.4 per cent and 5.0 per cent recorded in FY-2025. Cost of Risk also improved to 0.6 per cent from 2.2 per cent over the same period.
The Group further disclosed that its net loan book grew marginally by 0.5 per cent, from N3.13 trillion in December 2025 to N3.15 trillion by June 2026, while deposit liabilities recorded stronger growth of 10.3 per cent, rising from N12.87 trillion to N14.19 trillion during the same period.
Commenting on the results, the Group Chief Executive Officer of GTCO Plc, Mr Segun Agbaje, said the half-year performance reflected the resilience of the institution’s underlying business.
“Our half-year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group,” he said.
The Group disclosed that it continues to post some of the best financial ratios in the Nigerian financial services industry, including a Pre-Tax Return on Equity (ROAE) of 35.9 per cent, a Pre-Tax Return on Assets (ROAA) of 6.6 per cent, a Capital Adequacy Ratio of 34.9 per cent (Bank: 29.2 per cent), and a Cost-to-Income ratio of 31.5 per cent.
GTCO Plc describes itself as a leading financial services group with operations across Africa and the United Kingdom, renowned for its corporate governance, innovative financial solutions and customer-centric approach, providing banking and non-banking services including payments, funds management and pension fund administration.
