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

Kayode Tokede 

Guaranty Trust Holding Company Plc (GTCO) yesterday released its unaudited consolidated and separate financial statements as of September 30, 2026, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) with a Profit Before Tax of N879.9 billion.

The N879.9 billion PBT was driven by sustained growth across its core earnings lines, with interest income, fees and commission income and trading income growing year-on-year by five per cent, 1.4per cent and 3.1per cent respectively. 

This resilient performance was delivered despite a N87.9 billion fair value loss recognised in the period, with PBT moderating slightly by 2.3per cent from N900.8 billion in Q3 2025.

The Group’s Total Assets grew by 3.5per cent to N18.37 trillion from N17.76 trillion December 2025,  while Shareholders’ funds closed at N3.5 trillion. 

Capital Adequacy Ratio (CAR) remained very strong at 34.2per cent (Bank: 33.9per cent), and asset quality improved, with IFRS 9 Stage 3 Loans closing at four per cent at Group level (FY 2025: five per cent) and 3.4per cent at Bank level (FY 2025: 3.4per cent). 

Cost of Risk (COR) also improved to 0.9per cent from 2.2per cent over the same period, while coverage for credit-impaired loans closed at 130.7per cent (FY 2025: 106.9per cent).

Deposit liabilities grew by 8.6per cent from N2.87 trillion in December 2025 to N13.98 trillion in September 2026, reflecting the continued strength of the Group’s deposit franchise, while the net loan book moderated by 4.1per cent to N3.00 trillion, in line with the Group’s disciplined approach to risk asset creation. 

Earnings quality also improved, with funded income rising to 77.8per cent of gross earnings and net core earnings growing by 4.4per cent to N1.505 trillion, while Profit After Tax closed at N614.6 billion (Q3 2025: N699.6 billion), reflecting changes to Companies Income Tax regulation which affected capital allowance reliefs.

The Group continues to maintain a well-structured, healthy, liquid and diversified balance sheet across all the jurisdictions where it operates a banking franchise, as well as across its Payments, Pension and Funds Management businesses

Commenting on the results, the Group Chief Executive Officer of GTCO, Mr. Segun Agbaje, in a statement said: “Our performance in the Q3 reflects the strength of a franchise built on scale, efficiency and discipline.

Despite a challenging operating environment and significant fair value losses in the period, our core earnings continued to grow, our deposit base expanded strongly, our cost efficiency remains among the best in the industry, and our balance sheet remains strong, liquid and well capitalised. 

“Looking ahead, we will always optimise risk-free returns wherever we see them and will always be positioned to take advantage of arbitrage opportunities as market conditions evolve, without compromising the quality of our risk assets. 

“We will also continue to evolve our platforms and adapt to new technologies to meet the changing needs of our customers, as we remain focused on delivering sustainable value and superior returns to our shareholders.”

Overall, the Group continues to post some of the best metrics in the Nigerian Financial Services Industry, with a Pre- Tax Return on Average Equity (ROAE) of 34per cent, Pre-Tax Return on Average Assets (ROAA) of 6.5per cent, Capital Adequacy Ratio (CAR) of 34.2per cent and Cost-to-Income Ratio of 31.2per cent.