Suara Sherif
Guaranty Trust Holding Company Plc has reported total assets of N18.6tn and customer deposits of N14.19tn for the half year ended June 30, 2026, as the financial services group released its audited results to the Nigerian Exchange Group and the London Stock Exchange.
The group’s profit before tax stood at N603.03bn, driven by revenue growth across interest and trading income lines, which expanded year-on-year by 7.5 percent and 24.7 percent respectively.
However, a N46.2bn fair value loss recognised in the first half capped overall profit before tax growth at 0.4 percent year-on-year.
Shareholders’ funds rose to N3.3tn, while the capital adequacy ratio remained strong at 34.9 percent for the group and 29.2 percent for the bank entity.
The balance sheet expansion was recorded across all geographic jurisdictions housing its banking franchises, alongside contributions from its payments, pension and funds management subsidiaries.
Asset quality improved during the period, with International Financial Reporting Standard 9 Stage 3 non-performing loans closing at 3.5 percent at the bank level and 4.6 percent at the group level, compared to 3.4 percent and 5.0 percent recorded in full-year 2025.
Concurrently, the group’s cost of risk dropped significantly to 0.6 percent from 2.2 percent in the corresponding period.
The net loan book posted a marginal 0.5 percent expansion from N3.13tn in December 2025 to N3.15tn in June 2026, while customer deposit liabilities registered a 10.3 percent growth from N12.87tn to N14.19tn over the same window.
Commenting on the financial outcome, the Group Chief Executive Officer of GTCO Plc, Segun Agbaje, said the results speak to the strength of what the group has built.
He described it as a resilient franchise with a strong balance sheet and a business that no longer depends on banking alone, noting that while fair value movements weighed on reported earnings, the core business held firm.
He added that interest and trading income grew, deposits strengthened and asset quality improved at group level, with digital serving as the lever for scaling across banking, payments, pension and funds management.
Key financial ratios for the period demonstrated operational efficiency, with pre-tax return on average equity standing at 35.9 percent, pre-tax return on average assets at 6.6 percent, and a cost-to-income ratio of 31.5 percent.
The holding company continues to maintain banking and non-banking operations across Africa and the United Kingdom, spanning payments, fund management and pension fund administration.
For GTCO, the half-year performance reflects a balance of scale and resilience.
The group’s asset base has grown, deposits have strengthened, and asset quality has improved, positioning it to navigate a challenging operating environment while pursuing its diversification strategy beyond traditional banking.
