Guaranty Trust Holding Company Plc (GTCO) recorded a profit before tax of N603.03 billion in the first half of 2026, supported by growth in interest and trading income.

The group’s interest income increased by 7.5 per cent year-on-year, while trading income rose by 24.7 per cent during the period. However, a N46.2 billion fair value loss recognised in the first half moderated the overall growth in profit before tax to 0.4 per cent year-on-year.

The financial results, contained in GTCO’s audited consolidated and separate financial statements for the six months ended June 30, 2026, were submitted to the Nigerian Exchange Group and London Stock Exchange.

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

The group also maintained a strong capital position, with its Capital Adequacy Ratio standing at 34.9 per cent, compared with 29.2 per cent at the bank level.

Asset quality improved during the period, with IFRS 9 Stage 3 loans closing at 3.5 per cent at the bank level and 4.6 per cent at the group level. This compared with 3.4 per cent and 5.0 per cent respectively at the end of the 2025 financial year.

GTCO’s Cost of Risk also improved significantly, falling to 0.6 per cent from 2.2 per cent recorded during the corresponding period.

The group’s net loan book grew marginally by 0.5 per cent, increasing from N3.13 trillion in December 2025 to N3.15 trillion in June 2026.

Deposit liabilities, however, recorded stronger growth, rising by 10.3 per cent from N12.87 trillion at the end of 2025 to N14.19 trillion by June 2026.

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

Agbaje said fair value movements affected reported earnings, but noted that the core business continued to perform through growth in interest and trading income, stronger deposits and improved asset quality at group level.

He said the group would focus on disciplined execution and responsible growth, with digital platforms serving as a key lever for expansion across banking, payments, pension and funds management.

GTCO said its performance continued to reflect strong financial ratios across key areas. The group recorded a pre-tax return on equity of 35.9 per cent, pre-tax return on assets of 6.6 per cent and a cost-to-income ratio of 31.5 per cent.

The holding company also maintained a Capital Adequacy Ratio of 34.9 per cent, while the bank recorded a ratio of 29.2 per cent.

The company has proposed a N1 interim dividend following the half-year performance.