GTCO Declares Pre-tax Profits Of N300.4bn In Q1

Guaranty Trust Holding Company (GTCO) Plc has recorded profit before tax of N300.4 billion for the period ended March 31, 2025.

The results released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), showed that the Group reported profit before tax of N300.4 billion on the back of strong performance posted on the core earnings lines of interest income which grew Year-on-Year by 41.1 per cent and fee income up by 41.2 per cent.

The strong performance enabled the group to douse the impact of the N331.6 billion fair value gains recognised in Q1, 2024 which did not recur in Q1, 2025.

The Group’s loan book (net) increased by 15.6 per cent from N2.79 trillion recorded as at December 2024 to N3.22 trillion in March 2025, while deposit liabilities grew by 7.7 per cent from N10.40 trillion to N11.20 trillion during the same period.

The Group recorded growth across all its asset lines and continues to maintain a robust, well-structured, highly de-risked, and well-diversified balance sheet in all the jurisdictions wherein it operates.

Total assets and shareholders’ funds closed at N15.9 trillion and N3.0 trillion, respectively. Full Impact Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 34.6 per cent, equally asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.3 per cent at Bank Level and 4.5 per cent at Group in Q1 2025 and Cost of Risk (COR) closed at 0.4 per cent from 4.9 per cent in December 2024.

Speaking on the results, the Group chief executive officer of GTCO, Segun Agbaje, said, “our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings.

“While the fair value gains of N331.6 billion reported in Q1 2024 did not recur this quarter, the Group recorded solid growth across most income lines, underpinned by a diversified revenue base and a healthy, well-structured balance sheet.”

He stated that, “we remain optimistic about the year ahead. The fundamentals of our business are strong, our customer base continues to grow, and we are executing with discipline across our strategic priorities. Importantly, at this pace, the Group is well-positioned to deliver the full year PBT of 2024 at the very minimum by the end of the 2025 full year.”

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios, Pre-Tax Return on Equity (ROAE) of 42.2 per cent, Pre-Tax Return on Assets (ROAA) of 7.8 per cent, Full Impact Capital Adequacy Ratio (CAR) of 34.6 per cent and Cost to Income ratio of 29.0 per cent.