GTCO reports N865.75 billion in profits, down 15% YoY

Guaranty Trust Holding Company Plc reported a pre-tax profit of N1.23 trillion for the year ended December 2025, representing a decline of 2.78% compared to N1.27 trillion recorded in the prior year.

Profit after tax also declined 14.94% to N865 billion, compared to the record N1 trillion posted a year earlier.

Gross earnings printed N2.215 trillion, reflecting a relatively flat revenue profile, increasing marginally year-on-year.

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**Key Highlights  **

• Gross earnings: N2.15 trillion (Up 0.09% YoY from N2.15 trillion)
• Pre-tax profit: N1.23 trillion (Down 2.78% YoY from N1.27 trillion)
• Profit after tax: N865.75 billion (Down 14.94% YoY from N1.02 trillion)
• Earnings per share (EPS): 25.43 kobo (Down 28.24% YoY from 35.44 kobo)
• Total assets: N17.7 trillion (Up 20.04% YoY from N14.7 trillion)
• Retained earnings: N1.7 trillion (Up 30.2% YoY from N1.3 trillion)

**Driving the numbers **

A review of the company’s top-line shows interest income rose to N1.6 trillion from N1.3 trillion in the previous year.

• Loans and advances to customers made up the largest portion, totaling N559.3 billion of the interest income.

• Investment securities contributed N489.4 billion at FVOCI and N269.2 billion at amortized cost.

After accounting for an interest expense of N392.5 billion, up 38.6%, net interest income settled at N1.26 trillion, rising from N1.05 trillion the previous year.

• Impairment charges narrowed significantly to N66.4 billion from N136.6 billion previously, leaving net interest income after impairments at N1.19 trillion.

On the non-interest side, fees and commissions increased to N278.5 billion, and after N34.1 billion in related expenses, the net amount stood at N244.3 billion, up 28.8% YoY.

The group also earned N78.7 billion from holding gains on tradable financial instruments and reported N139.9 billion in other income, largely driven by recoveries and FX revaluation gains.

However, rising personnel expenses of N101 billion, depreciation and amortization of N89.5 billion, and other operating expenses of N284.8 billion pressured earnings, leaving pretax profit flat at N1.23 trillion, with N865.7 billion after tax.

**Balance sheet **

On the balance sheet, total assets increased to N17.7 trillion from N14.7 trillion in the previous year.

• Investment securities formed the largest portion at N5.5 trillion, followed by cash and bank balances of N5.4 trillion, while loans and advances to customers rose 12.44% to N3.1 trillion.

Total liabilities spiked from N12.08 trillion to N14.3 trillion, with customer deposits making up N12.5 trillion of the obligations.

Equity rose to N3.4 trillion from N2.7 trillion, supported mainly by retained earnings, which increased to N1.7 trillion from N1.3 trillion the previous year.

Management commentary

Commenting on the 2025 results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, highlighted the company’s financial performance and strategic priorities.

• _“Our 2025 result shows the resilience and depth of our earnings capacity, while our record dividend reflects confidence in the Group’s long-term earnings potential,” he stated. _

He noted that following a strong 2024, the focus has been on building sustainable earnings by growing core banking and ecosystem businesses despite tighter regulations and a stronger Naira.

• _“Looking ahead, management remains committed to scaling the ecosystem, delivering shareholder value, and maintaining sustainable growth while navigating market and regulatory challenges,” he said. _

Market reaction

The results were published after market close on 31 March 2026, so the market is yet to fully react and may adjust in the coming trading sessions.

However, year-to-date the stock has gained over 24% on the NGX, with more than 1.6 billion shares traded so far.