GTCO Posts N879.9bn Profit Before Tax In Q3

Guaranty Trust Holding Company (GTCO) Plc has posted a profit before tax of N879.9 billion for the nine months ended September 30, 2026.

The Group disclosed this in its unaudited consolidated and separate financial statements as of September 30, 2026, released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

According to the results, the profit before tax was driven by sustained growth across core earnings lines, with interest income, fees and commission income and trading income growing year-on-year by 5.0 per cent, 1.4 per cent and 3.1 per cent respectively.

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

The Group’s total assets grew by 3.5 per cent to N18.37 trillion from N17.76 trillion in December 2025, while shareholders’ funds closed at N3.5 trillion.

Deposit liabilities grew by 8.6 per cent 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 per cent to N3.00 trillion, in line with disciplined approach to risk asset creation.

Capital Adequacy Ratio (CAR) remained strong at 34.2 per cent, and asset quality improved, with IFRS 9 Stage 3 Loans closing at 4.0 per cent at Group level from 5.0 per cent in full year 2025, and 3.4 per cent at Bank level. Cost of Risk improved to 0.9 per cent from 2.2 per cent.

Profit after tax closed at N614.6 billion compared to N699.6 billion in Q3 2025, reflecting changes to Companies Income Tax regulation which affected capital allowance reliefs.

Speaking on the results, Group chief executive officer, Segun Agbaje, 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.”