GTCO posts N302.9bn Q1 profit before tax

Guaranty Trust Holding Company Plc (GTCO) reported profit before tax of N302.9 billion for the period ended March 31, 2026.

The group disclosed this on Thursday in Lagos, in its unaudited consolidated and separate financial statements for the first quarter.

Interest income and fee income rose by 17.5 per cent and 7.1 per cent year-on-year, reflecting sustained momentum in banking operations.

The loan book grew by 1.3 per cent to N3.17 trillion, supported by a 6.3 per cent rise in deposits to N13.69 trillion.
Total assets stood at N18.7 trillion, while shareholders’ funds closed at N3.6 trillion, underscoring a strong capital position.

Capital Adequacy Ratio remained robust at 39.5 per cent during the period.
Asset quality improved, with IFRS 9 Stage 3 loans declining to 4.4 per cent from 5.0 per cent in December 2025.

Cost of Risk also improved significantly to 0.2 per cent from 2.2 per cent in the previous period.

“The Group recorded growth across all asset lines and maintains a healthy, liquid, diversified balance sheet across its banking, payments, pension and funds businesses,” the statement read.

Group Chief Executive Officer, Segun Agbaje, said, “Our Q1 2026 results mark a defining shift in the quality and composition of earnings.

“We delivered solid growth across core income lines, supported by disciplined execution and a diversified, strong and healthy balance sheet.

“Our focus remains on sustainable earnings through deeper customer relationships, scaling ecosystem businesses, and deploying technology for simpler, faster financial solutions.

“We see significant headroom across payments, wealth management and banking in Nigeria and across West and East Africa.
“We are positioning the group to capture these opportunities while sustaining strong, long-term value creation.”

The group posted strong performance indicators, including pre-tax ROAE of 34.4 per cent and ROAA of 6.6 per cent.

It also recorded a cost-to-income ratio of 31.5 per cent, reflecting continued operational efficiency.