The board of Guaranty Trust Holding Company (GTCO) Plc has recommended distribution of interim dividend of N1 per share for the first half of 2026, in the first declaration expected by major banks this week.
Key extracts of the audited report and accounts of GTCO released yesterday at the Nigerian Exchange (NGX) showed that gross earnings rose modestly from N1.07 trillion in first half 2025 to N1.107 trillion in first half 2026. Profit before tax inched up to N603.03 billion in first half 2026 as against N600.9 billion in corresponding period of 2025.
After taxes, net profit stood at N414.19 billion compared with N449.01 billion in comparable period of 2025. Earnings per share thus closed first half 2026 at N11.18 as against N13.59 in corresponding period of 2025.
The group’s performance was driven by strong growths on the interest and trading income lines, which grew by 7.5 per cent and 24.7 per cent respectively. The strong earnings recorded was moderated by a N46.2 billion fair value loss recognised in first half 2026.
Group’s total assets and shareholders’ funds closed at N18.6 trillion and N3.3 trillion, respectively. Capital Adequacy Ratio (CAR) remained strong, closing at 34.9 per cent while asset quality improved as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5 per cent and 4.6 per cent at both bank and group level in first half 2026 as against -3.4 per cent and 5.0 per cent in full year 2025. Cost of Risk (COR) improved to 0.6 per cent from 2.2 per cent during the same period.
The group’s net loan book grew marginally by 0.5 per cent from N3.13 trillion as of December 2025 to N3.15 trillion in June 2026, converse for improved performance on deposit liabilities which grew by 10.3 per cent from N12.87 trillion to N14.19 trillion during the same period.
Group Chief Executive Officer, Guaranty Trust Holding Company Plc, Mr. Segun Agbaje explained that the group grew across its asset lines, reinforcing a balance sheet that is well structured, liquid and diversified.
He noted that the growth was recorded in each jurisdiction where the group operates a banking franchise, and across its payments, pension and funds management businesses.
He said: ‘Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at group level.
‘The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across banking, payments, pension and funds management, and for building a more diversified and resilient financial services group’.
He underlined that GTCO has continued to post one of the best metrics in the Nigerian financial services industry in terms of key financial ratios, with pre-tax return on equity (ROAE) of 35.9 per cent, pre-tax return on assets (ROAA) of 6.6 per cent, capital adequacy ratio (CAR) of 34.9 per cent for the group and 29.2 per cent for the bank and cost to income ratio of 31.5 per cent.