Guaranty Trust Holding Company Plc (GTCO) has announced a profit before tax (PBT) of ₦600.9 billion for the half year ended June 30, 2025, despite the absence of last year’s extraordinary fair value gains.
According to the audited consolidated and separate financial statements released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), the Group’s performance was driven by strong growth in interest income and fee income, which rose by 31.5% and 33.0% year-on-year, respectively.
Although PBT declined 40% compared to H1 2024 due to the non-recurrence of the ₦493.01 billion fair value gains recorded last year, the Group reported solid growth across its asset lines. Total assets closed at ₦16.7 trillion, while shareholders’ funds stood at ₦3.0 trillion.
GTCO also maintained a strong capital adequacy ratio of 36.2% and improved asset quality, with IFRS 9 Stage 3 loans declining to 3.2% at the Bank level and 4.5% at Group level, compared to 3.5% and 5.2% in December 2024. Cost of Risk also improved to 1.7% from 4.9% in December 2024.
The Group’s loan book grew by 20.5% to ₦3.36 trillion, up from ₦2.79 trillion in December 2024, while deposit liabilities increased by 16.6% to ₦12.13 trillion.
The Board of Directors has approved an interim dividend of ₦1.00 per share for H1 2025.
Commenting on the results, Group Chief Executive Officer, Mr. Segun Agbaje, said the performance underscores GTCO’s resilience and long-term strategy.
“Our half year performance reflects the strength of our core business and the progress we are making in building a truly diversified financial services ecosystem. Beyond the extraordinary one-off gains of last year, we are now driving sustainable growth with recurring earnings that highlight the resilience and scalability of our model,” Agbaje stated.
He added that continued investments in technology and a de-risked balance sheet across banking, funds management, pensions, and payments provide a strong foundation for long-term growth and value creation.
GTCO continues to rank among the industry’s top performers with a pre-tax return on equity (ROAE) of 60.4%, pre-tax return on assets (ROAA) of 10.6%, and a cost-to-income ratio of 30.1%.
The Group operates across Africa and the United Kingdom, offering banking and non-banking services including payments, funds management, and pension fund administration.