GTCO Reports N879.9bn Profit Before Tax in Nine Months

Guaranty Trust Holding Company Plc (GTCO) has announced its unaudited financial statements for the period ending September 30, 2026, revealing a remarkable Profit Before Tax (PBT) of N879.9 billion. This impressive figure was bolstered by a five percent increase in interest income, a 1.4 percent rise in fees and commission income, and a 3.1 percent growth in trading income compared to the previous quarter.

Notably, despite a N87.9 billion fair value loss, the PBT saw a slight moderation of 2.3 percent, falling from N900.8 billion in Q3 2025 to the current level. The Group's Total Assets expanded by 3.5 percent to N18.37 trillion, while Shareholders' funds remained steady at N3.5 trillion. The Capital Adequacy Ratio (CAR) maintained a robust 34.2 percent, and asset quality improved, with IFRS 9 Stage 3 Loans declining to four percent at the Group level and 3.4 percent at the Bank level.

The Cost of Risk (COR) also showed improvement to 0.9 percent, and coverage for credit-impaired loans reached 130.7 percent. Deposit liabilities surged by 8.6 percent, escalating from N2.87 trillion to N13.98 trillion. Furthermore, funded income expanded to 77.8 percent of gross earnings, and net core earnings increased by 4.4 percent to N1.505 billion.

Gross earnings were affected by recent changes in Companies Income Tax regulation, but the Group remains well-capitalized and liquid, with a strong balance sheet across all jurisdictions and its various business sectors. GTCO's CEO, Mr. Segun Agbaje, emphasized the company's dedication to optimizing returns while maintaining a risk-free approach and adapting to new technologies to cater to evolving customer needs.

Overall, GTCO continues to excel in the Nigerian Financial Services Industry, boasting exceptional metrics such as a Pre-Tax Return on Average Equity (ROAE) of 34 percent, Pre-Tax Return on Average Assets (ROAA) of 6.5 percent, Capital Adequacy Ratio (CAR) of 34.2 percent, and Cost-to-Income Ratio of 31.2 percent.