Guaranty Trust Holding Company Plc, GTCO has reported a profit before tax of ₦879.9 billion for the nine months ended September 30, 2026, while profit after tax fell to ₦614.6 billion from ₦699.6 billion in the corresponding period of 2025.
The group’s unaudited results, released on October 27, showed that profit before tax declined by 2.3 per cent from ₦900.8 billion a year earlier, despite growth in interest income, fees and commissions, and trading income.
GTCO attributed the performance to sustained growth across its core earnings lines, although it recognised a ₦87.9 billion fair value loss during the period. It also said changes to Companies Income Tax regulations affecting capital allowance reliefs contributed to the decline in profit after tax.
Net core earnings rose by 4.4 per cent to ₦1.505 trillion, while funded income accounted for 77.8 per cent of gross earnings.
The group’s total assets increased by 3.5 per cent to ₦18.37 trillion from ₦17.76 trillion at the end of December 2025. Deposit liabilities rose by 8.6 per cent to ₦13.98 trillion from ₦12.87 trillion over the same period, reflecting growth in customer deposits.
However, the net loan book declined by 4.1 per cent to ₦3 trillion, which the group said was consistent with its disciplined approach to risk asset creation.
Asset quality indicators improved at group level, with International Financial Reporting Standard 9 Stage 3 loans falling to 4.0 per cent from 5.0 per cent at the end of 2025. At the bank level, the ratio remained at 3.4 per cent.
The group’s cost of risk dropped to 0.9 per cent from 2.2 per cent, while coverage for credit-impaired loans increased to 130.7 per cent from 106.9 per cent.
Shareholders’ funds closed at ₦3.5 trillion, while the capital adequacy ratio stood at 34.2 per cent for the group and 33.9 per cent for the bank.
GTCO also reported a pre-tax return on average equity of 34.0 per cent, a pre-tax return on average assets of 6.5 per cent and a cost-to-income ratio of 31.2 per cent.
Commenting on the results, Group Chief Executive Officer, Segun Agbaje, said the performance reflected the group’s operating scale, efficiency and financial discipline despite fair value losses and a challenging business environment.
He said the group would continue to pursue risk-free returns and market opportunities while maintaining the quality of its risk assets and adapting its platforms and technology to changing customer needs.
GTCO operates banking and non-banking businesses across Africa and the United Kingdom, including payments, funds management and pension fund administration.