Guaranty Trust Holding Company Plc (GTCO) recorded N603.03 billion profit before tax (PBT) in the first half of 2026, driven by growth in interest and trading income, while a N46.2 billion fair-value loss limited earnings growth to 0.4 per cent year-on-year.

The group, in its audited consolidated and separate financial statements for the period ended June 30, 2026, filed with the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), said interest income and trading income grew by 7.5 per cent and 24.7 per cent respectively.

Despite the strong operating performance, the N46.2 billion fair-value loss recognised during the period moderated the growth in reported profit.

The company also declared an interim dividend of N1 per share for the period.

GTCO’s total assets rose to N18.6 trillion, while shareholders’ funds stood at N3.3 trillion at the end of June.

Its capital position remained strong, with the Group’s Capital Adequacy Ratio (CAR) at 34.9 per cent, compared with 29.2 per cent for the bank.

Asset quality also improved during the period. IFRS 9 Stage 3 loans declined to 3.5 per cent at the bank level and 4.6 per cent at the Group level, compared with 3.4 per cent and 5.0 per cent respectively at the end of 2025.

The Group’s cost of risk also improved significantly to 0.6 per cent from 2.2 per cent during the corresponding period.

However, loan growth remained subdued, with the Group’s net loan book rising marginally by 0.5 per cent from N3.13 trillion at the end of December 2025 to N3.15 trillion in June 2026.

Deposits recorded stronger growth, rising by 10.3 per cent from N12.87 trillion to N14.19 trillion over the same period.

The Group recorded a pre-tax return on equity of 35.9 per cent and pre-tax return on assets of 6.6 per cent, while its cost-to-income ratio stood at 31.5 per cent.

Commenting on the results, the Group Chief Executive Officer, Segun Agbaje, said the performance reflected the strength of the group’s franchise, balance sheet and diversification beyond banking.

He said fair-value movements affected reported earnings during the period, but the underlying business remained resilient, supported by growth in interest and trading income, stronger deposits and improved asset quality at the Group level.

Agbaje said the group’s priority was to execute with discipline and pursue responsible growth, adding that digital technology remained a key lever for expanding its banking, payments, pension and funds-management businesses.

“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,” he said.