GTCO reports N603bn H1 2026 profit before tax

Guaranty Trust Holding Company Plc (GTCO) has released its audited financial statements for the first half of 2026, reporting a profit before tax of N603.03 billion. This represents a marginal year-on-year increase of 0.4 percent, as strong growth in interest and trading income was offset by a N46.2 billion fair value loss.

Key financial indicators show that interest income rose by 7.5 percent and trading income increased by 24.7 percent. However, profit after tax saw a decline of approximately 7.8 percent to N414.19 billion, driven largely by a significant increase in income tax expenses. The company has proposed an interim dividend of N1.00 per ordinary share.

The Group's balance sheet remains robust, with total assets reaching N18.6 trillion and shareholders' funds at N3.3 trillion. Customer deposits grew by 10.3 percent to N14.19 trillion, while the net loan book saw a slight increase of 0.5 percent to N3.15 trillion. Asset quality also showed improvement, with the cost of risk declining to 0.6 percent from 2.2 percent in the previous year.

Additionally, GTCO's non-banking subsidiaries, including HabariPay, GT Fund Managers, and GT Pension Fund Managers, contributed a combined pre-tax profit of N15.94 billion, reflecting the group's strategic diversification into fintech and asset management.