GTCO Reports ₦600.9bn Pre-Tax Profit in H1 2025 as Core Income Grows

Guaranty Trust Holding Company Plc has posted profit before tax of ₦600.9 billion for the half-year ended June 30, 2025, as growth in core income lines helped cushion the effect of one-off gains that supported performance in the prior year.

In its audited consolidated and separate financial statements filed with the Nigerian Exchange Group and the London Stock Exchange, GTCO said interest income rose 31.5 per cent year-on-year, while fee income increased 33.0 per cent.

The group said those gains in core earnings moderated the impact of the ₦493.01 billion fair value gains recognised in H1 2024 that did not recur in H1 2025. As a result, year-on-year pre-tax profit declined by 40 per cent.

GTCO also reported expansion across asset lines and said its balance sheet remains diversified and de-risked across banking operations and non-banking businesses, including payments, pensions and funds management.

Total assets closed at ₦16.7 trillion, while shareholders’ funds stood at ₦3.0 trillion. The group’s Capital Adequacy Ratio was reported at 36.2 per cent, underscoring what management described as a strong capital position.

On asset quality, GTCO said IFRS 9 Stage 3 loans improved to 3.2 per cent at bank level and 4.5 per cent at group level in H1 2025, compared with 3.5 per cent and 5.2 per cent respectively in December 2024. Cost of Risk improved to 1.7 per cent from 4.9 per cent in December 2024.

The update points to improved credit quality and lower impairment pressure in the period under review, even as the operating environment remained tight for lenders due to inflation, exchange-rate volatility and policy adjustments.

GTCO’s numbers are likely to draw investor attention for two reasons. First, they show continued strength in recurring income from lending and transaction services. Second, they offer evidence that the group is preserving capital and balance-sheet resilience despite lower contribution from fair-value income relative to last year.

For analysts tracking Nigeria’s banking sector, the half-year result adds to the conversation on earnings quality, particularly the balance between recurring operating income and market-related valuation effects.

The group did not indicate any change to its broader strategic direction in the filing, but reaffirmed its multi-vertical model spanning banking and financial services beyond traditional lending.

With profitability still high in absolute terms and key prudential indicators holding firm, GTCO enters the second half of the year with attention on cost management, loan growth quality and how macroeconomic shifts could influence margins and risk levels through year-end.