GTCO Reports ₦603bn Half-Year Profit Before Tax, Declares ₦1 Interim Dividend
Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of ₦603.03 billion for the six months ended 30 June 2026, and announced an interim dividend of ₦1 per share.
The group said its audited consolidated and separate financial statements for the period had been released to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE).
Interest income grew by 7.5% year-on-year, while trading income rose by 24.7%. However, a ₦46.2 billion fair value loss recognised in the first half of 2026 limited year-on-year growth in profit before tax to 0.4%.
GTCO said growth across its asset lines strengthened its balance sheet, with gains recorded in each jurisdiction where it operates a banking franchise and across its payments, pension and funds management businesses.
Total assets stood at ₦18.6 trillion, while shareholders’ funds closed at ₦3.3 trillion. The group’s capital adequacy ratio was 34.9%, with the bank’s ratio at 29.2%.
The company also reported improved asset quality. It said IFRS 9 Stage 3 loans closed at 3.5% and 4.6% at bank and group level, respectively, in the first half of 2026, compared with 3.4% and 5.0% in the 2025 financial year. Cost of risk fell to 0.6% from 2.2% in the corresponding period.
Net loans grew by 0.5%, from ₦3.13 trillion in December 2025 to ₦3.15 trillion in June 2026. Deposit liabilities increased by 10.3%, from ₦12.87 trillion to ₦14.19 trillion over the same period.
Commenting on the results, GTCO Group Chief Executive Officer Segun Agbaje said: “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.”
GTCO reported a pre-tax return on equity of 35.9%, a pre-tax return on assets of 6.6%, a capital adequacy ratio of 34.9% at group level and 29.2% at bank level, and a cost-to-income ratio of 31.5%.
The group operates across Africa and the United Kingdom, providing banking and non-banking services, including payments, funds management and pension fund administration.
