Annual Financial Report

Guaranty Trust Holding Company PLC

31 March 2026

 

Guaranty Trust Holding Company Plc

RELEASES AUDITED FULL-YEAR CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS AS AT DECEMBER 31, 2025; DECLARES PBT OF N1.231TRILLION

Lagos, London - March 31, 2026 - Guaranty Trust Holding Company Plc ("GTCO"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of diversified financial services, announces its audited Financial Results for the year ended 31 December 2025 and declares a PBT of N1.231tr.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: "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. 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. 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. 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."

Financial Highlights

·      Earnings

-  Sustained profit before tax closing at ₦1.231tr (31 December 2024: ₦1.266tr) in-spite of non-recurrence of N517.5bn fair value gains recognized in FY-2024 which offset the 23.2% growth recorded on funded income line.

-  Profit after tax dipped by 14.9% to ₦865.7bn in FY-2025YTD from N1,017.8bn FY-2024YTD due to the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments.

Earnings per share (EPS) closed at 2,543kobo relative to 3,544kobo per share as of 31 December 2024 due to increase in the number of shares on the back successful capital raising in FY-2024 and FY-2025.

·      Revenue

-  Interest income increased significantly by 23.2% to ₦1.653tr (31 December 2024: N1,341.8bn), principally due to growth in the earning assets (EA) volumes of Banking Entities, pick-up in yield and impressive AUM and TPV growth recorded by the Non-Banking Business Verticals- GTFM, GTPFA and Habari, culminating in 34.8% expansion in interest earned on fixed income securities, 22.5% on placements and 9.8% on loans and advances.

-  Non-funded income (NFI) which comprises of fee and commission income (56.0%), Net trading gains (15.8%), and Other Income (28.1%) declined by 38.4% to ₦497.2bn in FY-2025YTD from N806.5bn in FY-2024YTD primarily due to 72.0% reduction in Other Income from N499.1bn in FY-2024YTD to N140.0bn in FY-2025YTD, this negative impact was doused by 25.9% growth in Fee and commission earnings on the back significant increase in transactional volumes noted across Banking and Non-Banking Verticals.

In specifics, the Group booked N81.8bn fair value loss on the Financial Instrument in the current period as against N517.5bn fair value gain posted in prior corresponding period as Naira appreciated 7% against the USD.

-  Net interest margin (NIM) was up by 140bps closing at 12.3% (31 December 2024: 10.9%) owing to increase in yield to 14.6% in FY-2025YTD from 11.7% in FY-2024YTD, the yield pick-up was adequate to counter rise in cost funds to 2.1% (31 December 2024: 1.7%)

·      Balance Sheet growth came in very strong with robust liquidity and capital positions.

-  Total assets of ₦17.761trn (31 December 2024: N14.796trn) up 20.0%.

-  Net loans and advances of ₦3.132trn (31 December 2024: N2.786trn) up 12.4%.

-  Deposit liabilities of ₦12.874trn (31 December 2024: N10.401trn) up 23.8%.

·      Credit Quality            

-  Ratio of IFRS 9 Stage 3 loans to Total Loans closed at 3.4% (31 December 2024: 3.5%) at Bank level while at Group, it closed at 5.0% (31 December 2024: 5.2%).

-  Coverage for lifetime credit impaired loans still top 100% at Group & Bank level closing 106.9% and 192.5% (31 December 2024: 138.7% & 217.7%) respectively.

-  Cost of Risk dropped 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 27.9% benefitting from strong net-Core earnings growth of 20.6% (N1.505 Trn v N1.248 Trn) that curtailed 17.9% pick up in Operating Expenses (OPEX) (N475.4bn v N403.0bn)  

·      Subsidiaries

Contribution to Group PBT from West Africa and Non-Banking Entities (NBS) increased to 28.1% and 1.7% in FY-2025YTD from 18.4% and 1.2% in FY-2024YTD respectively while United Kingdom and East Africa contribution declined to 1.5% and 0.9% from 1.7% and 1.5% respectively during the same period. The improved contribution from NBS and West Africa Banking Entities outside Nigeria caused contribution from the Nigeria Banking Subsidiary to drop from 79.2% in FY-2024YTD to 70.8% in FY-2025YTD.

December 2025 Financial Analysis and Ratios

Key Financials (N' billion)	FY-2025	FY-2024	∆%
Interest income	1,653.2	1,341.8	23.2%
Non-interest income	497.2	806.5	-38.4%
Operating income	1,657.3	1,696.9	-2.3%
Operating expenses	475.4	403.0	17.9%
Profit before tax	1,231.1	1,266.2	-2.8%
Profit after Tax	865.7	1,017.8	-14.9%
Earnings per share (in Naira)	25.4	35.4	-28.2%
	FY-2025	FY-2024	∆%
Total assets	17,761.2	14,795.7	20.0%
Net loans	3,132.3	2,785.8	12.4%
Deposit liabilities	12,874.0	10,401.4	23.8%

Key Ratios	FY-2025	FY-2024
ROAE (post-tax)	28.3%	48.6%
ROAA (post-tax)	5.3%	8.3%
ROAE (pre-tax)	40.2%	60.5%
ROAA (pre-tax)	7.6%	10.3%
Net interest margin	12.3%	10.86%
Cost-to-income ratio	27.9%	24.1%
	FY-2025	FY-2024
Net loans to deposits	24.3%	26.8%
Liquidity ratio	56.7%	49.2%
Capital adequacy ratio	43.8%	39.3%
IFRS 9 Stage 3 Loans	5.0%	5.2%
Cost of risk	2.2%	4.9%
Coverage (with Reg. Risk Reserves)	106.9%	138.7%

31 March 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 N17.761trillion 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) HabariPay (Nigeria) Limited ("HabariPay")

13) Guaranty Fund Managers Limited ("GTFM")

14) Guaranty Pension Managers Limited ("GTPM").

 

END