Half-year Financial Report

Guaranty Trust Holding Company PLC

28 September 2026

 

Guaranty Trust Holding Company Plc

AUDITED HALF YEAR GROUP RESULTS FOR THE PERIOD ENDED JUNE 30, 2026: DECLARES A PBT OF N603.03BILLION

Lagos Nigeria - September 28, 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 period ended 30 June 2026 and declares a PBT of N603.03bn.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; "Our half year results speak to the strength of what we have built: a resilient franchise, a strong balance sheet and a business that no longer depends on banking alone. Fair value movements weighed on reported earnings, but the core business held firm. Interest and trading income grew, deposits strengthened, and asset quality improved at Group level. The priority now is to execute with discipline and grow responsibly. Digital is our lever for scaling across Banking, Payments, Pension and Funds Management, and for building a more diversified and resilient financial services group."

Financial Highlights

·      Earnings

-  Sustained Profit before tax closing at ₦603.03bn (30 June 2025: N600.9bn) on the back of 7.5% growth recorded on funded income line, despite significant earnings headwinds from fair value loss of N46.21bn and non-recurrence of net N6.5bn derivative gain and fair value loss in H1-2026.

-  Profit after tax dipped by 7.8% to ₦414.2bn in H1-2026YTD from N449.01bn H1-2025YTD partly due to changes to CIT regulation which affected Capital allowance reliefs and improvement in earnings quality evidenced by marked funded income contribution of 78.9% to Gross earnings.

Earnings per share (EPS) closed at 1,118kobo relative to 1,359kobo per share as of 30 June 2025 due to increase in the number of outstanding shares occasioned by the successful capital raising in FY-2024 and FY-2025.

·      Revenue

-  Interest income increased by 7.5% to ₦873.4bn (30 June 2025: N812.4bn), supported by continued expansion in earnings assets and a 55% and 22% increase in income from Placements and Loans respectively adequate to cushion the 80bps moderation in earning-asset yield.

-  Non-funded income (NFI) which comprises of Fee and Commission income (60.8%), Net trading gains (20.2%), and Other Income (18.9%) declined by 10.1% to ₦234.1bn in H1-2026YTD from N260.3bn in H1-2025YTD primarily due to 37.5% reduction in Other Income, reflecting significant rise in Fair value loss and partly due to 6.0% decline in fees and commission earnings, this negative impact counter the 24.7% growth in trading income arising from efficient dealing room activities.

Net interest margin (NIM) down by 47bps closing at 11.8% (30 June 2025: 12.3%) owing to decline in yield to 13.87% in H1-2026YTD from 14.7% in H1-2025YTD, the yield decline was moderated by savings on cost of funds closing at 1.83% (30 June 2025: 2.17%).

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

-  Total assets of ₦18.616trn (31 December 2025: N17.761trn) up 4.8%.

-  Net loans and advances of ₦3.147trn (31 December 2025: N3.132trn) up 0.5%.

-  Deposit liabilities of ₦14.194trn (31 December 2025: N12.874trn) up 10.3%.

·      Credit Quality           

-  Ratio of IFRS 9 Stage 3 loans to Total Loans closed at 3.5% (31 December 2024: 3.4%) at Bank level while at Group, it closed at 4.6% (31 December 2025: 5.0%).

-  Coverage for lifetime credit impaired loans still top 100% at Group & Bank level closing 103.8% and 173.6% (31 December 2025: 106.9% & 192.5%) respectively.

-  Cost of Risk dropped to 0.6% (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% benefitting from growth in funded and trading income of 4.0% (N696.9bn v N670.2bn) that curtailed 7.3% pick up in Operating Expenses (OPEX) (N277.4bn v N258.5bn).

·      Subsidiaries

Contribution to Group PBT from Non-Banking Entities (NBS) increased from 1.4% in H1- 2025 to 2.6% in H1- 2026. During the same period, the contributions from West Africa, East Africa and United Kingdom closed at 30.0%, 1.2% and 1.0% from 30.8%, 1.6% and 1.9% in H1-2025 respectively, Nigeria's contribution remained flat (65.2% v 64.3%) post-intragroup adjustment.

June 2026 Financial Analysis and Ratios

Key Financials (N' billion)	H1-2026	H1-2025	∆%
Interest Income	873.4	812.4	7.5%
Non-interest income	234.1	260.3	-10.1%
Operating Income	845.6	821.3	3.0%
Operating expenses	277.4	258.5	7.3%
Profit before tax	603.0	600.9	0.4%
Profit After Tax	414.2	449.0	-7.8%
Earnings per share (in Naira)	11.2	13.6	-17.8%
	H1-2026	FY-2025	∆%
Total Assets	18,616.1	17,761.2	4.8%
Net Loans	3,147.3	3,132.3	0.5%
Deposit Liabilities	13,967.5	12,547.0	11.3%

Key Ratios	H1-2026	FY-2025
ROAE (post-tax)	24.6%	31.5%
ROAA (post-tax)	4.6%	5.7%
ROAE (pre-tax)	35.9%	42.1%
ROAA (pre-tax)	6.6%	7.6%
Net interest margin	11.8%	12.3%
Cost-to-income ratio	31.5%	30.1%
	H1-2026	FY-2025
Net Loans to deposits	22.2%	24.3%
Liquidity ratio	46.0%	56.7%
Capital adequacy ratio	34.9%	43.8%
IFRS 9 Stage 3 Loans	4.6%	5.0%
Cost of risk	0.6%	2.2%
Coverage (with Reg. Risk Reserves)	103.8%	106.9%

28 September 2026

Enquiries:

Guaranty Trust Oyinade Adegite, Head, Group Communication	[phone]
Bolaji Gbadegesin, Group Communication [e-mail]

Notes to the Editors:

Guaranty Trust Holding Company Plc is a diversified financial services company with N18.616trillion 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