GTCO Plc Reports 2025 H1 Profit Before Tax of ₦600.9 Billion
Guaranty Trust Holding Company Plc has announced its audited consolidated and standalone financial results for the six months ending June 30, 2025. The Group posted a profit before tax (PBT) of ₦600.9 billion, driven primarily by a 31.5% increase in interest income and a 33.0% rise in fee income year-over-year (YoY).
Key Financial Highlights (H1-2025):
– Profit Before Tax:₦600.9 billion (up 40% YoY, narrowing from the impact of fair value gains recorded in H1-2024)
– Total Assets: ₦16.7 trillion (up 13.7% from December 2024)
– Shareholders’ Funds:₦3.0 trillion (up 7.3% YoY)
– Capital Adequacy Ratio (CAR): 36.2% (well above regulatory requirements)
– Loan Book (Net): ₦3.36 trillion (growth of 20.5% YoY from ₦2.79 trillion)
– Deposit Liabilities: ₦12.13 trillion (growth of 16.6% YoY from ₦10.40 trillion)
– Cost of Risk (COR): 1.7% (improved from 4.9% in December 2024)
– IFRS 9 Stage 3 Loans:3.2% at the bank level and 4.5% at Group level (improved from 3.5% and 5.2%, respectively, in December 2024)
– Dividend Declared: ₦1.00 per share (interim dividend for H1-2025)
The Group’s core earnings reflected strong growth, with interest income and fee income increasing YoY by 31.5% and 33.0%, respectively, offsetting the absence of ₦493.01 billion fair value gains recorded in H1-2024. Asset quality metrics improved, evidenced by a decline in IFRS 9 Stage 3 loans and a significant reduction in the cost of risk.
Operational and Strategic Highlights:
– The loan book expanded by 20.5% YoY, reaching ₦3.36 trillion.
– Deposit liabilities grew by 16.6%, reinforcing the Group’s funding base.
– The Group maintains a robust capital position with a CAR of 36.2%, supporting continued expansion.
– Asset quality improvements are evident with a reduction in non-performing loans and risk metrics.
– The Group continues to enhance technological infrastructure, including a major core banking upgrade, to drive efficiency and scalability.
Leadership Commentary:
Mr. Segun Agbaje, CEO of GTCO Plc, stated: “Our half-year results highlight the resilience of our diversified financial ecosystem. Beyond last year’s extraordinary gains, we are focusing on sustainable, recurring revenue streams, underpinned by investments in technology and risk management. Our balanced approach across banking, funds management, pension, and payments positions us to capitalize on emerging opportunities and deliver long-term stakeholder value.”
Industry Metrics and Outlook:
GTCO maintains industry-leading ratios including a Pre-Tax Return on Equity (ROAE) of 60.4%, Pre-Tax Return on Assets (ROAA) of 10.6%, and a Cost-to-Income ratio of 30.1%. The Group’s prudent risk management and diversified income streams underpin its strong financial standing amid an evolving economic environment.