1st Quarter Results

Guaranty Trust Holding Company PLC

30 April 2026

 

Guaranty Trust Holding Company Plc

UNAUDITED Q1 GROUP RESULTS FOR THE PERIOD ENDED MARCH 31, 2026: DECLARES A PBT OF N302.9BILLION

Lagos Nigeria - April 30, 2026 - 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 31 March 2026 and declares a PBT of N302.9bn.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: "Our Q1 2026 results mark a defining shift in the quality and composition of our earnings, with strong underlying performance across our core banking operations and increasing contribution from our ecosystem businesses. Building on the momentum from prior periods, we delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.

He further added: "Our focus remains on driving sustainable earnings by deepening customer relationships, rapidly scaling our ecosystem businesses, and deploying technology to deliver simpler, faster, and more intuitive financial solutions. We see significant headroom across payments, wealth management, and banking, both in Nigeria and across our West and East African markets, and we are deliberately positioning the Group to capture these opportunities while sustaining strong, long-term value creation."

Financial Highlights

·      Earnings

-  Profit before tax of ₦302.9bn (31 March 2025: N300.3bn) up 0.9%

-  Profit after tax dropped by 15.4% to ₦218.1bn from N257.9bn as of 31 March 2025 due to improvement in earnings quality as funded income constitute 82% of Gross earnings.

-  Earnings per share (EPS) closed at 589kobo relative to 783kobo per share as of 31 March 2025 due to increase in the number of shares on the back successful capital raising in FY-2024 and FY-2025.

·      Revenue

-  Interest income of ₦467.0bn (31 March 2025: N397.4bn) up by 17.5%, driven by growth in the Earning Assets (EA) volumes of Banking Entities and impressive AUM and TPV growth recorded by the Non-Banking Business Verticals- GTFM, GTPFA and Habari, culminating in 30.5% expansion in interest earned on Placements, 24.8% on Loans and advances and 6.9% on fixed income securities.

-  Non-funded income (NFI) down by 17.1% y-o-y (₦104.4bn vs N125.9bn) primarily due to 105.1% reduction in Other Income from N30.7bn in Q1-2025YTD to negative N1.6bn in Q1-2026YTD, the decline fully offset the 7.1% growth from Fee and commission income and 26.9% growth in Net Trading Income as the Group recorded significant increase in transactional volumes across its Banking and Non-Banking Verticals. The interplay led to Fee and Commission income accounting for 76.9%, Net trading gains (24.6%), and Other Income (-1.5%) of Non-Funded Income.

In specifics, the Group booked Negative N40.4bn fair value loss on the Financial Instrument in the current period as against N1.5bn fair value gain posted in prior corresponding period owing to 4% appreciation of Naira against the USD.

-  Net interest margin was down by 70bps closing at 11.9% (31 March 2025: 12.6%) due to combined impact of decrease in Earnings Asset yield to 13.99% in Q1-2026YTD from 15.01% in Q1-2025YTD, and 36 bps improvement in cost of funds to 1.85% (31 March 2025: 2.21%)

·      Balance Sheet

-  Total assets of ₦18.746trn (31 December 2025: N17.761trn) up 5.5%.

-  Net loans and advances of ₦3.171trn (31 December 2025: N3.132trn) up 1.3%.

-  Deposit liabilities of ₦13.686trn (31 December 2025: N12.874trn) up 6.3%.

·      Credit Quality    

-  IFRS 9 Stage 3 loans to total loans closed at 3.8% (31 December 2025: 3.4%) at Bank level. At Group, it closed at 4.4% (31 December 2025: 5.0%)

-  Coverage for lifetime credit impaired loans still top 100% at Group & Bank level closing 117.7% and 188.5% (31 December 2025: 106.9% & 192.5%) respectively.

-  Cost of Risk dropped to 0.2% (31 December 2025: 2.2%) 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 31.5% (Bank: 31.2%) benefitting from strong net-Core earnings growth of 10.6% (N428.1bn v N385.3bn) that curtailed 13.7% pick up in Operating Expenses (OPEX) (N139.2bn v N122.4bn)  

·      Subsidiaries

Contribution to Group PBT from West Africa, Non-Banking Entities (NBS) and East Africa increased to 28.2%, 2.5% nd 1.5% in March 2026 from 26.7%, 1.3% and 1.4% in March 2025 respectively. while United Kingdom contribution declined to 1.0% from 1.8% during the same period. The improvement in contributions from NBS, East Africa and West Africa Banking Entities outside Nigeria caused contribution from the Nigeria Banking Subsidiary to drop from 68.7% in March-2025 to 66.6% in March-2026.

March 2026 Financial Analysis and Ratios

Key Financials (N' billion)	Q1-2026	Q1-2025	∆%
Interest Income	467.0	397.4	17.5%
Non-interest income	104.4	125.9	-17.1%
Operating Income	442.3	422.7	4.6%
Operating expenses	139.2	122.4	13.7%
Profit before tax	302.9	300.3	0.9%
Profit After Tax	218.1	257.9	-15.4%
Earnings per share (in Naira)	6.2	7.8	-20.9%
	Q1-2026	FY-2025	∆%
Total Assets	18,745.6	17,761.2	5.5%
Net Loans	3,171.5	3,132.3	1.3%
Deposit Liabilities	13,686.3	12,874.0	6.3%

Key Ratios	Q1-2026	Q1-2025
ROAE (post-tax)	24.8%	36.3%
ROAA (post-tax)	4.8%	6.7%
ROAE (pre-tax)	34.4%	42.2%
ROAA (pre-tax)	6.6%	7.8%
Net interest margin	11.9%	12.6%
Cost-to-income ratio	31.5%	29.0%
	Q1-2026	FY-2025
Net Loans to deposits	23.2%	24.3%
Liquidity ratio	57.6%	56.7%
Capital adequacy ratio	39.5%	43.8%
IFRS 9 Stage 3 Loans	4.4%	5.0%
Cost of risk	0.2%	2.2%
Coverage (with Reg. Risk Reserves)	117.7%	106.9%

30 April 2026

Enquiries:

Guaranty Trust Oyinade Adegite, Head, Group Communication	[phone]
Charles Eremi, Group Communication [e-mail]

Notes to the Editors:

Guaranty Trust Holding Company Plc is a diversified financial services company with N17.467trillion 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 Fund Administrator.

 

END