GTCO Records N1.1trn Gross Earnings, to Pay N1 Interim Dividend

By Aduragbemi Omiyale

The Audited Consolidated and Separate Financial Statements of Guaranty Trust Holding Company (GTCO) Plc for the period ended June 30, 2026, showed that gross earnings increased slightly by 3.26 per cent to N1.108 trillion from N1.073 trillion in the same period last year.

In the results submitted to the Nigerian Exchange (NGX) Limited and the London Stock Exchange (LSE), it was revealed that the profit before tax marginally increased to N603.0 billion from N600.9 billion due to better interest and trading income lines, which grew y-o-y by 7.5 per cent and 24.7 per cent, respectively, while the net profit shrank by 7.68 per cent to N414.5 billion from N449.0 billion as a result of the higher income tax expense.

The group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified. This growth was recorded in each jurisdiction where we operate a banking franchise, and across its Payments, Pension and Funds Management businesses.

The total assets and shareholders’ funds closed at N18.6 trillion and N3.3 trillion, respectively, while the Capital Adequacy Ratio (CAR) remained very strong at 34.9 per cent (bank 29.2 per cent), and asset quality improved as evidenced by IFRS 9 Stage 3 Loans, which closed at 3.5 per cent and 4.6 per cent at both bank and group level in H1-2026 (bank -3.4 per cent, group 5.0 per cent in FY-2025).

In addition, Cost of Risk (COR) improved to 0.6 per cent from 2.2 per cent during the same period, whole the loan book (net) grew marginally by 0.5 per cent from N3.13 trillion as of December 2025 to N3.15 trillion in June 2026, conversely for improved performance on deposit liabilities, which grew by 10.3 per cent from N12.87 trillion to N14.19 trillion during the same period.

In line with its tradition of rewarding shareholders, the board proposed the payment of an interim dividend of N1.00 per ordinary share on the issued capital, to be paid on October 20, 2026, to those whose names appear in the register of members as of the close of business on October 12, 2026.

Commenting on the results, the chief executive of GTCO, Mr Segun Agbaje, said, “Our half-year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm.

“Interest and trading income grew, deposits strengthened, and asset quality improved at group level.

“The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group.”