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29 Oct 2025 10:07
Guaranty Trust Holding Company Plc
UNAUDITED Q3 GROUP RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2025: DECLARES A PBT OF N900.8BILLION
Lagos Nigeria - October 29, 2025 - Guaranty Trust Holding Company Plc ("GTCO"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of diversified financial services, announces its unaudited Financial Results for the period ended 30 September 2025 and declares a PBT of N900.8bn.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: "Our third quarter performance underscores the consistency and resilience of our business model, as well as the continued strength of our diversified financial services ecosystem. We are seeing steady, sustainable growth across our banking and non-banking businesses, supported by disciplined execution and a strong focus on operational efficiency. The improvements we have made to our digital and payments infrastructure are enhancing customer experience, deepening engagement, and driving greater integration across our ecosystem."
He further stated: "Looking ahead, our focus remains on advancing our competitive edge through innovation, operational excellence, and a commitment to superior customer outcomes. With a clear growth trajectory and strong organisational alignment, we are well-positioned to sustain performance momentum and deliver another year of industry-leading results."
Financial Highlights
· Earnings
- Profit before tax of ₦900.8bn (30 September 2024: 1.219tr) down 26.1% due to non-recurrence of N523.2bn fair value gains booked in Q3-2024 which offset 25.6% growth posted on funded income line.
- Profit after tax declined by 35.5% to ₦699.6bn in Q3-2025YTD from N1,085.0bn for the period ended 30 September supported by improvement in earnings quality as funded income constitute 77% of gross earnings.
- Earnings per share (EPS) therefore closed at 2,071kobo relative to 3,841kobo per share as of 30 September 2024.
· Revenue
- Interest income increased materially by 25.6% to ₦1.231tr (30 September 2024: N980.3bn), principally due to growth in Banking Entities Earning Assets (EA) volumes, pick-up in yield and impressive AUM growth recorded by the Non-Banking Business Verticals- GTFM and GTPFA, culminating in 39.9% expansion in interest earned on fixed income securities, 15.1% on Placements and 14.9% on Loans and advances.
- Non-funded income (NFI) which comprises of Fee and Commission income (56.3%), Net trading gains (20.7%), and Other Income (23.0%) dipped materially by 54.3% to ₦373.3bn in Q3-2025YTD from N817.9bn in Q3-2024YTD primarily due to 85.1% reduction in Other Income from N577.4bn in Q3-2024YTD to N85.8bn in Q3-2025YTD which completely offset growth in fee and commission arising from increase in transactional volumes noted across Banking and Non-Banking Verticals.
In specifics, the Group booked N49.2bn fair value loss on the Financial Instrument in the current period as against N523.2bn fair value gain posted in prior corresponding period on the back of 4% appreciation of Naira exchange rate against the USD. The drop in other income thus doused the 16.8% and 28.1% growth recorded on fees and commission income and net trading income, respectively.
- Net interest margin was up by 240bps closing at 12.2% (30 September 2024: 9.8%) owing to yield increase to 14.6% in Q3-2025YTD from 11.96% in Q3-2024YTD, that was adequate to mitigate pick-up in cost funds to 2.1% (30 September 2024: 1.5%).
· Balance Sheet growth came in very strong with robust liquidity and capital positions.
- Total assets of ₦16.659trn (31 December 2024: N14.796trn) up 12.6%.
- Net loans and advances of ₦3.244trn (31 December 2024: N2.786trn) up 16.5%.
- Deposit liabilities of ₦12.062trn (31 December 2024: N10.401trn) up 16.0%.
· Credit Quality
- Ratio of IFRS 9 Stage 3 loans to Total Loans closed at 3.3% (31 December 2024: 3.5%) at Bank level while at Group, it closed at 4.4% (31 December 2024: 5.2%), all within 5% prescribed by Regulator.
- At Bank level, Coverage for lifetime credit impaired loans still top 100% at Group & Bank level closing 136.5% and 95.8% (31 December 2024: 138.7% & 217.7%) respectively.
- Cost of Risk improve to 2.2% (31 December 2024: 4.9%) on the back of improved Asset quality as the Group continued to benefit from its derisked balance sheet.
· Continued focus on efficiency
- Cost to income (CIR) at Group level closed at 28.8% benefitting from strong net-Core earnings growth of 21% (N1.163 Trn v N961.7bn) that curtailed Opex pick up of 24% (N364.9bn v N294.3bn).
· Subsidiaries
Contribution to Group PBT from West Africa, United Kingdom and Non-Banking Entities (NBS) increased to 30.8%, 1.7% and 1.6% in Q3-2025YTD from 16.4%, 1.3% and 0.9% in Q3-2024YTD, respectively, while East Africa contribution declined to 1.47% from 1.52% during the same period. The improved contribution from NBS and Banking Entities outside Nigeria (WA & EA) caused contribution from the Nigeria Banking Subsidiary to drop from 81.8% in Q3-2024YTD to 68.6% in Q3-2025YTD.
September 2025 Financial Analysis and Ratios
Key Financials (N' billion) | Q3-2025 | Q3-2024 | ∆% |
Interest income | 1,230.9 | 980.3 | 25.6% |
Non-interest income | 373.6 | 817.9 | -54.3% |
Operating income | 1,228.6 | 1,514.1 | -18.9% |
Operating expenses | 365.0 | 294.3 | 24.0% |
Profit before tax | 900.8 | 1,219.5 | -26.1% |
Profit after Tax | 699.6 | 1,085.0 | -35.5% |
Earnings per share (in Naira) | 20.7 | 38.4 | -46.1% |
Q3-2025 | FY-2024 | ∆% | |
Total assets | 16,659.4 | 14,795.7 | 16,659.4 |
Net loans | 3,244.6 | 2,785.8 | 3,244.6 |
Deposit liabilities | 12,062.4 | 10,401.4 | 16.0% |
Key Ratios | Q3-2025 | Q3-2024 |
ROAE (post-tax) | 30.7% | 70.4% |
ROAA (post-tax) | 5.9% | 11.4% |
ROAE (pre-tax) | 39.5% | 79.1% |
ROAA (pre-tax) | 7.6% | 12.8% |
Net interest margin | 12.2% | 9.8% |
Cost-to-income ratio | 28.8% | 19.4% |
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Q3-2025 | FY-2024 | |
Net loans to deposits | 26.9% | 26.8% |
Liquidity ratio | 49.6% | 49.2% |
Capital adequacy ratio | 36.5% | 39.3% |
IFRS 9 Stage 3 Loans | 4.4% | 5.2% |
Cost of risk | 2.2% | 4.9% |
Coverage (with Reg. Risk Reserves) | 136.5% | 138.7% |
29 October 2025
Enquiries:
Guaranty Trust Oyinade Adegite, Head, Group Communication |
+234-1-2715227 |
Charles Eremi, Group Communication ir@gtcoplc.com |
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Notes to the Editors:
Guaranty Trust Holding Company Plc is a diversified financial services company with N16.659trillion in assets, providing commercial banking services and non-banking financial services across eleven countries.
The Group operates as one of the leading Nigerian financial services companies offering a wide range of commercial banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom. The Group is rated B- by S&P, a reflection of the Group's stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.
The Group has the following Banking subsidiaries (including sub-subsidiaries) and non-banking subsidiaries within and outside of Nigeria -
1) Guaranty Trust Bank (Nigeria) Limited ("GTB Nigeria"),
2) Guaranty Trust Bank (Gambia) Limited ("GTB Gambia"),
3) Guaranty Trust Bank (Sierra Leone) Limited ("GTB Sierra Leone"),
4) Guaranty Trust Bank (Ghana) Limited ("GTB Ghana"),
5) Guaranty Trust Bank (Liberia) Limited ("GTB Liberia"),
6) Guaranty Trust Bank (United Kingdom) Limited ("GTB UK")
7) Guaranty Trust Bank (Cote D'Ivoire) ("GTB Cote D'Ivoire"),
8) Guaranty Trust Bank (Kenya) Limited ("GTB Kenya"),
9) Guaranty Trust Bank (Rwanda) Plc Limited ("GTB Rwanda"),
10) Guaranty Trust Bank (Uganda) Limited ("GTB Uganda")
11) Guaranty Trust Bank (Tanzania) Limited ("GTB Tanzania")
12) Habari Pay (Nigeria) Limited
13) Guaranty Fund Managers
14) Guaranty Pension Managers.
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