GTCO posts N603bn half-year profit, pays N1 interim dividend

By Adebola Muili

Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of N603.03 billion for the half year ended June 30, 2026, while declaring an interim dividend of N1 per share to shareholders.

The Group disclosed this in its audited consolidated and separate financial statements for the period released to the Nigerian Exchange Group and the London Stock Exchange on Monday, September 28, 2026.

According to the financial results, GTCO’s profit before tax rose marginally by 0.4 per cent year-on-year, despite a N46.2 billion fair value loss recorded during the period.

The Group said the performance was driven by growth in interest and trading income, which increased by 7.5 per cent and 24.7 per cent year-on-year respectively.

GTCO said its total assets and shareholders’ funds stood at N18.6 trillion and N3.3 trillion respectively at the end of June, while its Capital Adequacy Ratio remained strong at 34.9 per cent at Group level and 29.2 per cent at Bank level.

The financial institution also reported an improvement in asset quality, with IFRS 9 Stage 3 loans closing at 3.5 per cent for the Bank and 4.6 per cent for the Group, compared with 3.4 per cent and 5.0 per cent respectively at the end of 2025.

Similarly, the Group’s Cost of Risk improved to 0.6 per cent from 2.2 per cent recorded during the corresponding period.

The Group’s net loan book grew marginally by 0.5 per cent, from N3.13 trillion in December 2025 to N3.15 trillion in June 2026, while deposits rose by 10.3 per cent from N12.87 trillion to N14.19 trillion over the same period.

Commenting on the results, the Group Chief Executive Officer of GTCO, Segun Agbaje, said the performance reflected the strength of the group’s balance sheet and its diversification beyond traditional banking.

“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,” Agbaje said.

He added that while fair value movements affected reported earnings, the group’s core business remained resilient, with growth in interest and trading income, stronger deposits and improved asset quality.

“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,” he said.

GTCO also 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.

The Group operates banking and other financial services businesses across Africa and the United Kingdom, including payments, funds management and pension fund administration.