GTCO Reports N302.9bn Q1 2026 Profit

Kayode Tokede

Guaranty Trust Holding Company Plc (GTCO) has released its unaudited financial statements for first quarter (Q1)  ended March 31, 2026 with a profit before tax (PBT) of N302.9 billion.

The N302.9 billion PBT was about 0.9 per cent increase over the N300.26 billion reported in Q1 2025. 

The PBT reported on Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) was on the back of strong performance posted on the core earnings lines of interest income and fee income which grew y-o-y by 17.5 per cent and 7.1 per cent respectively. 

Earnings capacity was driven by 1.3 per cent growth in the Group’s Loan book (net) from N3.13 trillion as of December 2025 to N3.17 trillion in March 2026, enabled by 6.3 per cent growth in Deposit liabilities from N12.87 trillion to N13.69 trillion during the same period.

Total assets and shareholders’ funds closed at N18.7 trillion and N3.6 trillion, respectively. 

Capital Adequacy Ratio (CAR) remained very strong, closing at 39.5per cent, likewise asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 4.4 per cent  in Q1-2026 (five per cent in December 2025).   Also, Cost of Risk (COR) improved to 0.2 per cent from 2.2 per cent in December 2025. 

The Group recorded growths across all its asset lines and continues to maintain a well-structured, healthy liquid and diversified balance sheet in all the jurisdictions wherein it operates a Banking franchise, as well as across its Payments, Pension and Funds Management business verticals.  

Commenting on the results, the Group Chief Executive Officer of GTCO, Mr. Segun Agbaje, said: “Our Q1 2026 results mark a defining shift in the quality and composition of our earnings, with strong underlying performance across our core banking operations and increasing contribution from our ecosystem businesses. 

“Building on the momentum from prior periods, we delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.”

He further added, “Our focus remains on driving sustainable earnings by deepening customer relationships, rapidly scaling our ecosystem businesses, and deploying technology to deliver simpler, faster, and more intuitive financial solutions. 

“We see significant headroom across payments, wealth management, and banking, both in Nigeria and across our West and East African markets, and we are deliberately positioning the Group to capture these opportunities while sustaining strong, long-term value creation.” 

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 34.4per cent, Pre-Tax Return on Assets (ROAA) of 6.6 per cent, Capital Adequacy Ratio (CAR) of 39.5 per cent and Cost to Income ratio of 31.5 per cent.