The Group posted
a Profit Before Tax of ₦879.9 billion, driven by sustained growth across its
core earnings lines, with interest income, fees and commission income and
trading income growing year-on-year by 5.0%, 1.4% and 3.1% respectively. This
resilient performance was delivered despite a ₦87.9 billion fair value loss
recognised in the period, with PBT moderating slightly by 2.3% from ₦900.8
billion in Q3 2025.
The Group’s Total
Assets grew by 3.5% to ₦18.37 trillion (December 2025: ₦17.76 trillion), while
Shareholders’ Funds closed at ₦3.5 trillion. Capital Adequacy Ratio (CAR)
remained very strong at 34.2% (Bank: 33.9%), and asset quality improved, with
IFRS 9 Stage 3 Loans closing at 4.0% at Group level (FY 2025: 5.0%) and 3.4% at
Bank level (FY 2025: 3.4%). Cost of Risk (COR) also improved to 0.9% from 2.2%
over the same period, while coverage for credit-impaired loans closed at 130.7%
(FY 2025: 106.9%).
Deposit
liabilities grew by 8.6% from ₦12.87 trillion in December 2025 to ₦13.98
trillion in September 2026, reflecting the continued strength of the Group’s
deposit franchise, while the net loan book moderated by 4.1% to ₦3.00 trillion,
in line with the Group’s disciplined approach to risk asset creation. Earnings
quality also improved, with funded income rising to 77.8% of gross earnings and
net core earnings growing by 4.4% to ₦1.505 trillion, while Profit After Tax
closed at ₦614.6 billion (Q3 2025: ₦699.6 billion), reflecting changes to
Companies Income Tax regulation which affected capital allowance reliefs.
The Group
continues to maintain a well-structured, healthy, liquid and diversified
balance sheet across all the jurisdictions where it operates a banking
franchise, as well as across its Payments, Pension and Funds Management
businesses
Commenting on the
results, the Group Chief Executive Officer of Guaranty Trust Holding Company
Plc Mr. 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. Looking ahead, we will always
optimise risk-free returns wherever we see them and will always be positioned
to take advantage of arbitrage opportunities as market conditions evolve,
without compromising the quality of our risk assets. We will also continue to
evolve our platforms and adapt to new technologies to meet the changing needs
of our customers, as we remain focused on delivering sustainable value and
superior returns to our shareholders.”
Overall, the
Group continues to post some of the best metrics in the Nigerian Financial
Services Industry, with a Pre-Tax Return on Average Equity (ROAE) of 34.0%,
Pre-Tax Return on Average Assets (ROAA) of 6.5%, Capital Adequacy Ratio (CAR)
of 34.2% and Cost-to-Income Ratio of 31.2%.
GTCO Plc is a
leading financial services group with operations across Africa and the United
Kingdom. Renowned for its strong corporate governance, innovative financial
solutions, and customer-centric approach, the Group provides a wide range of
banking and non-banking services including payments, funds management, and
pension fund administration. The Group is committed to delivering long-term
value to stakeholders while driving growth and development across its markets
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