GTCO Plc Reports Record-Breaking 2024 Full-Year Results, Pays N8.03k Dividend

GTCO Plc Reports Record-Breaking 2024 Full-Year Results, Pays N8.03k Dividend

Ghazali Ibrahim

Guaranty Trust Holding Company Plc (GTCO) has released its audited consolidated and separate financial statements for the year ended December 31, 2024.

According to the statement released, the results show a remarkable 107.8% increase in profit before tax, reaching ₦1.266 trillion, up from ₦609.3 billion in 2023.

The Group’s impressive performance is attributed to its diversified revenue base, robust risk management, and disciplined capital management.

GTCO’s loan book (net) grew by 12.3% to ₦2.79 trillion, while deposit liabilities increased by 37.8% to ₦10.40 trillion.

Total assets and shareholders’ funds stood at ₦14.8 trillion and ₦2.7 trillion, respectively. The Capital Adequacy Ratio (CAR) remained strong at 39.3%, while asset quality was sustained with IFRS 9 Stage 3 Loans at 3.5% at the bank level and 5.2% at the group level.

Commenting on the results, Group CEO Segun Agbaje stated, “Our strong performance underscores the resilience and depth of our business. We have generated sustainable high-quality earnings, maintained strong asset quality, and driven cost efficiencies.”

The Group has declared a record dividend of N8.03k for the 2024 financial year, underpinned by the quality of its earnings.

Looking ahead, GTCO remains committed to building a financial services group that thrives on innovation, operational efficiency, and sustainable profitability.

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