GTCO Posts ₦603bn Half-Year Profit, Declares ₦1 Interim Dividend
By Oki O. Samson, Trek Africa Newspaper
Guaranty Trust Holding Company Plc (GTCO) has reported a ₦603.03 billion profit before tax for the half year ended June 30, 2026, with stronger interest and trading income helping the financial services group maintain its earnings momentum despite a ₦46.2 billion fair value loss.
The Group also declared an interim dividend of ₦1 per share, according to its audited consolidated and separate financial statements released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE). GTCO said interest income grew by 7.5 per cent year-on-year, while trading income increased by 24.7 per cent. However, the fair value loss recognised during the period moderated the overall performance, resulting in a 0.4 per cent year-on-year increase in profit before tax.
Commenting on the results, Group Chief Executive Officer of GTCO Plc, Mr. Segun Agbaje, said the figures reflected the strength and resilience of the business despite the impact of fair value movements. “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 businesses continued to perform strongly. “Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level,” he said.
Agbaje said the Group’s immediate focus would be on disciplined execution and responsible growth, with digital technology expected to play a key role in expanding its businesses. “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’s total assets increased to ₦18.6 trillion, while shareholders’ funds stood at ₦3.3 trillion. Its Group Capital Adequacy Ratio closed at 34.9 per cent, compared with 29.2 per cent at the banking level. The Group also recorded an improvement in asset quality, with IFRS 9 Stage 3 loans reported at 3.5 per cent at Group level and 4.6 per cent at bank level. Cost of risk declined significantly to 0.6 per cent, from 2.2 per cent during the comparable period. The net loan book grew marginally by 0.5 per cent from ₦3.13 trillion in December 2025 to ₦3.15 trillion in June 2026, while deposits rose substantially by 10.3 per cent from ₦12.87 trillion to ₦14.19 trillion.
GTCO reported a pre-tax return on equity of 35.9 per cent, pre-tax return on assets of 6.6 per cent and cost-to-income ratio of 31.5 per cent. The Group operates across Africa and the United Kingdom, with businesses spanning banking, payments, pension fund administration and funds management.
About GTCO Plc.
GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom. Renowned for its strong corporate governance, innovative financial solutions, and customer-centric approach, the Group provides a wide range of banking and non-banking services including payments, funds management, and pension fund administration. The Group is committed to delivering long-term value to stakeholders while driving growth and development across its markets.
