Guaranty Trust Holding Company Plc (GTCO) recorded a Profit Before Tax (PBT) of N879.9 billion in the first nine months of 2026, compared with N900.8 billion posted during the corresponding period of 2025.
The figures were contained in the group’s unaudited consolidated and separate financial statements for the nine months ended September 30, 2026.
According to the financial report, GTCO’s total assets increased by 3.5 per cent to N18.37 trillion, while shareholders’ funds stood at N3.5 trillion at the end of the reporting period.
The group’s Capital Adequacy Ratio (CAR) remained strong at 34.2 per cent, while its asset quality recorded further improvement. IFRS 9 Stage 3 Loans declined to 4.0 per cent at the group level and 3.4 per cent at the bank level.
Similarly, the Cost of Risk (COR) dropped to 0.9 per cent from 2.2 per cent recorded in the corresponding period, while coverage for credit-impaired loans stood at 130.7 per cent.
GTCO’s deposit liabilities also increased by 8.6 per cent, rising from N12.87 trillion in December 2025 to N13.98 trillion in September 2026, indicating continued growth in customer deposits.
However, the group’s net loan book declined by 4.1 per cent to N3.00 trillion, which the financial report attributed to its cautious approach to risk asset creation.
The report further showed an improvement in earnings quality, with funded income accounting for 77.8 per cent of gross earnings. Net core earnings also rose by 4.4 per cent to N1.505 trillion.
Meanwhile, Profit After Tax (PAT) fell to N614.6 billion from N699.6 billion recorded in the corresponding period of 2025. The decline was attributed to changes in Companies Income Tax regulations, which affected capital allowance reliefs.
Commenting on the financial performance, GTCO’s Group Chief Executive Officer, 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.”
