Guaranty Trust Holding Company Plc has reported a profit before tax of N1.23tn for the financial year ended December 31, 2025, driven by strong growth in its core earnings despite a decline in profit after tax.
The Group disclosed this in its audited consolidated and separate financial statements released to the Nigerian Exchange Group and the London Stock Exchange.
According to the results, interest income and fee income rose year-on-year by 23.2 per cent and 25.9 per cent, respectively, supporting the Group’s earnings performance. The outcome builds on the momentum recorded in 2024, when GTCO posted a record profit before tax of N1.27tn, boosted by N517.5bn in fair value gains that did not recur in 2025.
Profit after tax for the 2025 financial year stood at N865.75bn, compared to N1.02tn recorded in 2024. The decline was attributed to recent fiscal policy changes affecting the taxation of investment securities, particularly the introduction of withholding tax on short-term instruments.
Despite this, the Group noted that its underlying earnings remained strong, supported by sustained growth in core operating income. GTCO also reported a robust balance sheet position, with total assets rising to N17.8tn and shareholders’ funds closing at N3.4tn at the end of the period.
Key prudential ratios showed improvement, with the Capital Adequacy Ratio remaining strong at 43.8 per cent. Asset quality also improved, as IFRS 9 Stage 3 loans declined to 3.4 per cent at the bank level and 5.0 per cent at the Group level, compared to 3.5 per cent and 5.2 per cent, respectively, in December 2024.
The Group’s cost of risk improved significantly to 2.2 per cent from 4.9 per cent in the previous year, reflecting better risk management and loan performance.
Loan growth remained steady, with the Group’s net loan book increasing by 12.4 per cent from N2.79tn in December 2024 to N3.13tn in December 2025. Deposit liabilities also grew by 23.8 per cent, rising from N10.40tn to N12.87tn within the same period.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Segun Agbaje, said the performance highlighted the resilience of the Group’s earnings base.
“Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses,” he said.
Agbaje noted that the strength of the Group’s underlying earnings, despite a stronger naira and tighter regulatory conditions, reflected the quality of its franchise and disciplined execution of its strategy.
“The strength of our underlying earnings, despite a stronger naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns,” he added.
He also highlighted the Group’s dividend payout, describing it as a reflection of both current profitability and confidence in long-term earnings prospects. “Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential,” Agbaje said.
Looking ahead, he stated that the Group would continue to focus on expanding its ecosystem, driving innovation, and delivering consistent returns. “Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders,” he said.
GTCO maintained strong performance across key financial metrics, recording a post-tax return on equity of 28.3 per cent and a post-tax return on assets of 5.3 per cent. Its cost-to-income ratio stood at 27.9 per cent, reflecting operational efficiency.
The Group, which operates across Africa and the United Kingdom, provides a range of banking and non-banking services, including payments, funds management, and pension administration, and continues to position itself for long-term growth across its markets.