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23 Sep 2025 13:58
Guaranty Trust Holding Company Plc
AUDITED HALF YEAR GROUP RESULTS FOR THE PERIOD ENDED JUNE 30, 2025: DECLARES A PBT OF N600.9BILLION
Lagos Nigeria - September 23, 2025 - Guaranty Trust Holding Company Plc ("GTCO"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of diversified financial services, announces its audited Financial Results for the period ended 30 June 2025 and declares a PBT of N600.9bn.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: "Our half year performance reflects the strength of our core business and the progress we are making in building a truly diversified financial services ecosystem. Beyond the extraordinary one-off gains of last year, we are now driving sustainable growth with recurring earnings that highlight the resilience and scalability of our model. A key driver of this momentum is our continued investment in technology, particularly the comprehensive upgrade of our core banking systems, which is already delivering stronger uptime, greater efficiency, and increased capacity to scale as our customer base grows."
He added: "Across Banking, Funds Management, Pension, and Payments, we are leveraging a fully de-risked balance sheet to reinforce our market position while maintaining strategic flexibility for growth. This foundation positions us to take advantage of emerging opportunities and deliver lasting value for all stakeholders."
Financial Highlights
· Earnings
- Profit before tax of ₦600.9bn (30 June 2024: N1.004tr) down 40.1% due to non-recurrence of N493.01bn fair value gains booked in H1-2024, which offset growth posted on funded income line.
- Profit after tax therefore declined by 50.4% to ₦449.0bn from N905.6bn as of 30 June 2024. Earnings Per Share closed at 1,359kobo relative to 3,212kobo per share as of 30 June 2024.
· Revenue
- Interest income grew significantly by 31.5% to ₦812.4bn (30 June 2024: N617.9bn), principally due to Earning Assets (EA) volumes growth and improved yield posted by the Banking Vertical and impressive AUM growth recorded by the Non-Banking Business Verticals- GTFM and GTPFA, culminating in 43.6% expansion in interest earned on fixed income securities, 22.6% on Placements and 22.1% on Loans and advances.
- Non-funded income (NFI) which comprises of Fee and Commission income (58.2%), Net trading gains (14.6%), and Other Income (27.2%) dipped materially by 66.4% to ₦260.3bn in H1-2025 from N774.7bn in H1-2024 primarily due to marked reduction in Other Income line by 88.7% from N630.3bn in H1-2025 to N70.9bn in H1-2025 that negates fee income growth arising from increase in transactional volumes across Non-Banking and Banking verticals.
The Group booked N4.4bn fair value loss on the Financial Instrument in the current period as against gain of N493.01bn of prior corresponding period on the back of exchange rate stability. The drop in other income doused the 33.0% and 24.4% growth recorded on fees and commission income and net trading income, respectively.
- Net interest margin was up by 180bps closing at 12.3% (30 June 2024: 10.5%) amidst pick-up in cost funds closing at 2.2% (30 June 2024: 1.54%).
· Balance Sheet
- Total assets of ₦16.692trn (31 December 2024: N14.796trn) up 12.8%.
- Net loans and advances of ₦3.358trn (31 December 2024: N2.786trn) up 20.5%.
- Deposit liabilities of ₦12.128trn (31 December 2024: N10.401trn) up 16.6%.
· Credit Quality
- IFRS 9 Stage 3 loans to total loans closed at 3.2% (31 December 2024: 3.5%) at Bank level. At Group, it closed at 4.5% (31 December 2024: 5.2%).
- At Bank level, Coverage for lifetime credit impaired loans still top 100% closing 193.5% (31 December 2024: 217.7%) while at Group, it closed at 124.1% (31 December 2024: 138.7%).
- Cost of Risk down to 1.7% (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) closed at 30.2% benefitting from strong core earnings that curtailed cost pick up to 60bps from 24.2% for the period ended 30 June 2024.
· Subsidiaries
Contribution to Group PBT from West Africa, East Africa and United Kingdom increased to 30.8%, 1.6% and 1.7% in June 2025 from 13.0%, 1.1% and 1.1% in June 2024, respectively. The improved contribution from Banking Entities outside Nigeria led to decline in the contribution from the Nigeria Banking Subsidiary from 84.0% as of June 2024 to 70.8% in June 2025. Also, Non-Banking Entities contribution improved to 1.4% from 0.7% during the same period.
June 2025 Financial Analysis and Ratios
Key Financials (N' billion) | H1-2025 | H1-2024 | ∆% |
Interest income | 812.4 | 617.9 | 31.5% |
Non-interest income | 260.3 | 774.7 | -66.4% |
Operating income | 821.3 | 1,205.9 | -31.9% |
Operating expenses | 258.5 | 201.8 | 28.1% |
Profit before tax | 600.9 | 1,003.8 | -40.1% |
Profit after tax | 449.0 | 905.6 | -50.4% |
Earnings per share (in Naira) | 13.6 | 32.1 | -57.7% |
H1-2025 | FY-2024 | ∆% | |
Total Assets | 16,692.1 | 14,795.7 | 12.8% |
Net Loans | 3,358.0 | 2,785.8 | 20.5% |
Deposit Liabilities | 12,128.1 | 10,401.4 | 16.6% |
Key Ratios | H1-2025 | H1-2024 |
ROAE (post-tax) | 31.5% | 93.4% |
ROAA (post-tax) | 5.7% | 15.0% |
ROAE (pre-tax) | 42.1% | 103.6% |
ROAA (pre-tax) | 7.6% | 16.6% |
Net interest margin | 12.3% | 10.45% |
Cost-to-income ratio | 30.1% | 16.7% |
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H1-2025 | FY-2024 | |
Net loans to deposits | 27.7% | 26.8% |
Liquidity ratio | 43.0% | 49.2% |
Capital adequacy ratio | 36.2% | 39.3% |
NPL/total loans | 4.5% | 5.2% |
Cost of risk | 1.7% | 4.9% |
Coverage (with Reg. Risk Reserves) | 124.1% | 138.7% |
23 September 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 N16.692trillion 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 Trust Fund Managers
14) Guaranty Trust Pension Manager
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