Q32026: GTCO Reports N879bn PBT, Core Earnings Hit N1.5trn

LAGOS – Guaranty Trust Holding Company Plc (GTCO) has strengthened its earn­ings base and balance sheet, with net core earnings rising by 4.4 percent to N1.505 trillion and customer deposits climbing to N13.98 trillion in the nine months ended September 30, 2026.

The financial services group, in its unaudited consolidated and separate financial statements released to the Nigerian Exchange (NGX) and Lon­don Stock Exchange (LSE), reported a profit before tax (PBT) of N879.9 bil­lion, supported by sustained growth in core income streams, improved as­set quality and strong capitalisation.

Although PBT moderated from N900.8 billion recorded in the cor­responding period of 2025, GTCO maintained a robust earnings profile despite a N87.9 billion fair value loss and changes to Companies Income Tax regulations affecting capital al­lowance reliefs.

Profit after tax stood at N614.6 billion, while the group’s growing contribution from core earnings un­derscored the resilience of its under­lying business operations.

Interest income increased by five percent year-on-year, while fees and commission income and trading in­come grew by 1.4 percent and 3.1 per­cent, respectively. Funded income also rose to 77.8 percent of gross earnings, reflecting the strength of the group’s core income-generating activities.

The group’s balance sheet con­tinued to expand, with total assets increasing by 3.5 percent to N18.37 trillion from N17.76 trillion at the end of December 2025. Shareholders’ funds closed at N3.5 trillion, providing a strong financial foundation for its operations across multiple markets.

A key highlight of the perfor­mance was the expansion of GT­CO’s deposit franchise. Deposit lia­bilities rose by 8.6 percent to N13.98 trillion from N12.87 trillion at the end of 2025, demonstrating the group’s capacity to attract and retain cus­tomer funds.

Bamidele Ogunwusi is a financial journalist with a strong analytical mind on issues that surround the financial sector. A graduate of Obafemi Awolowo University, Ile-Ife has garnered experience both locally and internationally in finance reporting. He has received awards and certificates from notable organisations like: the Centre for Investigative Journalism, Lagos, Bloomberg and Press Association, UK.

Save my name, email, and website in this browser for the next time I comment.

Independent Newspapers Limited, registered on July 17, 2001 (RC No: 419927), commenced publication on October 1, 2001. With registered office at 15b, Daranijo Street, off Odusami street, off Wemco road, Ogba, Ikeja