GTCO Reports N1.23trn Pre-Tax Profit, Assets Hit N17.8trn

Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of N1.23trn for the financial year ended December 31, 2025, underscoring strong core earnings growth and reaffirming its position as one of Nigeria’s most profitable financial institutions.

The Group also announced a final dividend of N12.76 per share, reinforcing its commitment to delivering sustained shareholder value and reflecting confidence in its long-term earnings capacity.

According to its audited consolidated and separate financial statements submitted to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), GTCO’s performance was driven by significant expansion in core income lines. Interest income rose by 23.2 per cent year-on-year, while fee income grew by 25.9 per cent, highlighting the resilience and scalability of its business model.

Profit after tax stood at N865.75bn, compared to N1.02trn recorded in 2024. The decline reflects the absence of one-off fair value gains of N517.5bn reported in the prior year, as well as the impact of recent fiscal policy changes, particularly the introduction of withholding tax on short-term investment securities. Nonetheless, the Group noted that underlying earnings remained strong when adjusted for these factors.

GTCO’s balance sheet remained robust, with total assets rising to N17.8trn and shareholders’ funds closing at N3.4trn.

The Group maintained a strong capital adequacy ratio of 43.8 per cent, well above regulatory requirements, providing significant headroom for growth and risk absorption.

Asset quality also improved during the period, with IFRS 9 Stage 3 loans declining to 3.4 per cent at the bank level and 5.0 per cent at the Group level, compared to 3.5 per cent and 5.2 per cent, respectively, in 2024.

Cost of risk moderated significantly to 2.2 per cent from 4.9 per cent, reflecting improved credit risk management.

In terms of business growth, the Group’s net loan book expanded by 12.4 per cent to N3.13trn from N2.79trn in the prior year, while deposit liabilities grew by 23.8 per cent to N12.87 trillion, underscoring continued customer confidence and strong liquidity.

Commenting on the results, the Group Chief Executive Officer, Segun Agbaje, said the performance highlights the resilience and depth of GTCO’s earnings capacity, particularly following a record 2024 financial year.

“Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses,” he said.

He added that the strength of the Group’s underlying earnings, despite a stronger naira and tighter regulatory conditions, reflects the quality of its franchise and disciplined execution of strategy.

Agbaje noted that the record dividend payout demonstrates both current profitability and management’s confidence in the Group’s long-term earnings trajectory, adding that GTCO will continue to focus on scaling its ecosystem, deepening innovation, and delivering consistent, high-quality returns.

Further analysis of key performance indicators showed that the Group sustained one of the strongest profitability and efficiency metrics in the Nigerian financial services industry, with post-tax return on equity of 28.3 per cent, return on assets of 5.3 per cent, and a cost-to-income ratio of 27.9 per cent.

GTCO’s diversified business model, spanning banking, payments, pension, and funds management, continued to support earnings stability across its operating markets, positioning the Group for sustained growth amid evolving macroeconomic and regulatory dynamics.