By Habeeb Ibrahim
Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of ₦603.03 billion for the six months ended June 30, 2026, alongside an interim dividend of ₦1 per share.
The group released its audited half-year financial statements for the period, reporting growth in key income lines despite the impact of fair value losses.
GTCO said interest income and trading income increased by 7.5 per cent and 24.7 per cent respectively year-on-year, supporting earnings during the period.
However, a ₦46.2 billion fair value loss recorded in the first half moderated the overall performance, leaving profit before tax up 0.4 per cent compared with the corresponding period of 2025.
The group’s total assets rose to ₦18.6 trillion, while shareholders’ funds stood at ₦3.3 trillion at the end of June.
Its capital adequacy ratio stood at 34.9 per cent at group level and 29.2 per cent for the banking business.
GTCO also reported an improvement in asset quality, with IFRS 9 Stage 3 loans standing 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.
The group’s cost of risk also declined to 0.6 per cent from 2.2 per cent recorded during the comparable period.
Its net loan book increased marginally from ₦3.13 trillion in December 2025 to ₦3.15 trillion in June 2026, representing a 0.5 per cent increase.
Deposits, however, recorded stronger growth, rising by 10.3 per cent from ₦12.87 trillion to ₦14.19 trillion during the six-month period.
Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the strength of the group’s balance sheet and the expansion of its businesses beyond traditional banking.
Agbaje said fair value movements affected reported earnings, while interest and trading income increased, deposits strengthened and asset quality improved at group level.
He added that the group would focus on disciplined execution and responsible growth, with digital platforms expected to support its banking, payments, pension and funds management businesses.
GTCO 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 for the period.
The group said its performance reflected continued growth across its banking and non-banking businesses, including payments, pension and funds management.
