GTCO Reports Double-Digit Growth in Interest and Fee Income in Early 2026

Guaranty Trust Holding Company Plc (GTCO or the Group) has unveiled its unaudited financial results for the first quarter of 2026, showcasing a resilient and growth-driven performance that underscores its leadership in Africa’s financial services industry. The Group’s consolidated and separate financial statements as of March 31, 2026, reveal key metrics that reflect strategic strength, operational excellence, and long-term value creation.

Driving Revenue Growth:
The Group posted an impressive Profit Before Tax (PBT) of ₦302.9 billion, supported by a robust expansion in core earnings. Interest income grew by 17.5% year-over-year (y-o-y), while fee income increased by 7.1%, demonstrating the Group’s diversified revenue streams and customer-centric approach.

Asset and Loan Book Expansion:
Earnings capacity was further bolstered by a 1.3% growth in the Group’s net loan book, which increased from ₦3.13 trillion in December 2025 to ₦3.17 trillion in March 2026. This growth was enabled by a 6.3% rise in deposit liabilities, from ₦12.87 trillion to ₦13.69 trillion during the same period, reflecting the Group’s ability to attract and retain customer funds across its extensive network.

Balance Sheet Strength:
Total assets closed at ₦18.7 trillion, with shareholders’ funds reaching ₦3.6 trillion. The Group maintained a very strong Capital Adequacy Ratio (CAR) of 39.5%, underscoring its financial resilience and capacity to support future growth. Asset quality improved, with IFRS 9 Stage 3 loans decreasing to 4.4% in Q1 2026 from 5.0% in December 2025. The Cost of Risk (COR) saw a significant reduction to 0.2% from 2.2%, highlighting risk management excellence.

Diversified Asset Performance:
GTCO recorded growth across all asset classes, maintaining a well-structured, liquid, and diversified balance sheet. Its operations span banking, payments, pension management, and funds management, with each vertical contributing to the Group’s stability and growth momentum across Nigeria, West Africa, and East Africa.

Leadership Perspective:
Commenting on the results, Mr. Segun Agbaje, Group CEO of GTCO, stated:
“Our Q1 2026 results mark a defining shift in the quality and composition of our earnings, with strong underlying performance across our core banking operations and increasing contribution from our ecosystem businesses. Building on the momentum from prior periods, we delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.”*

He further emphasized the Group’s strategic focus:
“Our focus remains on driving sustainable earnings by deepening customer relationships, rapidly scaling our ecosystem businesses, and deploying technology to deliver simpler, faster, and more intuitive financial solutions. We see significant headroom across payments, wealth management, and banking, both in Nigeria and across our West and East African markets, and we are deliberately positioning the Group to capture these opportunities while sustaining strong, long-term value creation.”

Key Financial Ratios:
GTCO continues to demonstrate industry-leading metrics, including a Pre-Tax Return on Equity (ROAE) of 34.4%, Pre-Tax Return on Assets (ROAA) of 6.6%, and a strong Capital Adequacy Ratio (CAR) of 39.5%. The Group’s cost-to-income ratio stands at 31.5%, reflecting efficient operations and prudent management.