Guaranty Trust Holding Company Plc (GTCO) has released its Unaudited Consolidated and Separate Financial Statements as of September 30, 2026, to the Nigerian Exchange Limited (NGX) and London Stock Exchange (LSE).
The Group posted a Profit Before Tax of N879.9 billion, driven by sustained growth across its core earnings lines, with interest income, fees and commission income and trading income growing year-on-year by 5 percent, 1.4 percent and 3.1 percent respectively.
This resilient performance was delivered despite a N87.9 billion fair value loss recognised in the period, with PBT moderating slightly by 2.3 percent from N900.8 billion in Q3 2025.
The Group’s Total Assets grew by 3.5 percent to N18.37 trillion (December 2025: N17.76 trillion), while Shareholders’ Funds closed at N3.5 trillion.
Capital Adequacy Ratio (CAR) remained very strong at 34.2 percent (Bank: 33.9 percent), and asset quality improved, with IFRS 9 Stage 3 Loans closing at 4 percent at Group level (FY 2025: 5 percent) and 3.4 percent at Bank level (FY 2025: 3.4 percent).
Cost of Risk (COR) also improved to 0.9 percent from 2.2 percent over the same period, while coverage for credit-impaired loans closed at 130.7 percent (FY 2025: 106.9 percent).
Deposit liabilities grew by 8.6 percent from N12.87 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 4.1 percent to N3 trillion, in line with the Group’s disciplined approach to risk asset creation.
Earnings quality also improved, with funded income rising to 77.8 percent of gross earnings and net core earnings growing by 4.4 percent 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.
Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company Plc 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.’
GTCO noted that 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 34 percent, Pre-Tax Return on Average Assets (ROAA) of 6.5 percent, Capital Adequacy Ratio (CAR) of 34.2 percent and Cost-to-Income Ratio of 31.2 percent.