Guaranty Trust Holding Company Plc, GTCO has recorded ₦603.03 billion profit before tax in the first half of 2026, as stronger interest and trading income, higher deposits and improved asset quality supported the group’s performance despite a fair value loss during the period.
The group’s audited results for the six months ended June 30, 2026, released to the Nigerian Exchange Group and London Stock Exchange, showed that interest income grew 7.5 per cent year-on-year, while trading income increased by 24.7 per cent.
However, a ₦46.2 billion fair value loss moderated the growth in profit before tax, which increased by 0.4 per cent year-on-year.
GTCO’s total assets rose to ₦18.6 trillion, while shareholders’ funds stood at ₦3.3 trillion as of June 2026.
The group’s deposit liabilities increased by 10.3 per cent from ₦12.87 trillion in December 2025 to ₦14.19 trillion at the end of June, while net loans grew marginally by 0.5 per cent from ₦3.13 trillion to ₦3.15 trillion.
Asset quality also improved during the period, with IFRS 9 Stage 3 loans declining to 3.5 per cent at the bank level and 4.6 per cent at the group level, compared with 3.4 per cent and 5.0 per cent respectively in December 2025.
The group’s cost of risk also improved significantly to 0.6 per cent from 2.2 per cent during the corresponding period.
GTCO maintained a strong capital position, with its capital adequacy ratio standing at 34.9 per cent at group level and 29.2 per cent for the bank.
The group reported a pre-tax return on equity of 35.9 per cent, pre-tax return on assets of 6.6 per cent and a cost-to-income ratio of 31.5 per cent.
Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the resilience of the group’s core business despite the impact of fair value movements on reported earnings.
“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,” Agbaje said.
He said digital technology would remain a key driver of the group’s expansion across banking, payments, pension and funds management as GTCO continues to diversify its financial services operations.
The group also announced an interim dividend of ₦1 per share.
GTCO operates banking and non-banking financial services businesses across Africa and the United Kingdom, including payments, funds management and pension fund administration.