Guaranty Trust Holding Company Plc (Guaranty Trust Holding Company Plc/GTCO) has released its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2025, posting a profit before tax of N1.23 trillion. The results, filed with both the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), underscore the Group’s resilience and its ability to generate sustainable earnings despite a challenging macroeconomic and regulatory environment.
Notably, the group announced an interim dividend of N11.76 kobo per 50 kobo ordinary share, marking a 67 per cent increase compared with the N7.03 kobo final dividend paid in 2024.
The group had previously paid an interim dividend of N1 per share, bringing the total dividend for the year to N12.76 per share, a 59 per cent rise over the total payout of N8.03 per share in 2024. However, the final dividend is subject to withholding tax, which will be deducted at the point of payment, in accordance with the audited financial statements.
GTCO’s performance was driven by strong growth in core operating income. Interest income rose 23.2 per cent year-on-year, while fee income increased by 25.9 per cent, showcasing GTCO’s ability to leverage both its banking and ecosystem businesses. This growth trajectory builds on the momentum from 2024, when GTCO delivered a record profit of N1.27 trillion, partly boosted by N517.5 billion in fair value gains that did not recur in 2025.
Profit after tax for 2025 came in at N865.75 billion, compared with N1.02 trillion in 2024. The decline reflects fiscal policy adjustments affecting the taxation of investment securities, including higher withholding tax on short-term instruments. Analysts note that when normalised for these effects, underlying earnings remain healthy, highlighting the Group’s capacity to generate strong core revenue streams in a disciplined and sustainable manner.
GTCO’s balance sheet remains well-structured and diversified across its banking, payments, pension, and funds management verticals. Total assets closed at N17.8 trillion, with shareholders’ funds of N3.4 trillion. The Group maintained a highly robust Capital Adequacy Ratio (CAR) of 43.8 per cent, reflecting its strong capitalisation. Asset quality also improved, as IFRS 9 Stage 3 loans closed at 3.4 per cent at the Bank level and 5.0 per cent at the Group level, down from 3.5 per cent and 5.2 per cent in December 2024, respectively. The cost of risk fell to 2.2 per cent, compared with 4.9 per cent in 2024.
Loan growth remained solid, with the net loan book expanding 12.4 per cent from N2.79 trillion to N3.13 trillion, while deposit liabilities grew 23.8 per cent to N12.87 trillion. These metrics reinforce GTCO’s capacity to mobilise low-cost funding and deploy it effectively across the Nigerian and African markets.
Commenting on the results, Segun Agbaje, GTCO Group chief executive officer, said: “Our 2025 result underscores the resilience and depth of our earnings capacity. Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses.
“The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy. Importantly, this strong core earnings performance underpins our capacity to sustain and grow shareholder returns. Our record dividend payout this year is not only a reflection of our current profitability but also of our confidence in the Group’s long-term earnings potential. Looking ahead, we remain focused on scaling our ecosystem, driving innovation across our financial services platform, and delivering consistent, high-quality earnings that support superior value creation for our shareholders.”
Overall, GTCO continues to post some of the best metrics in the Nigerian financial services industry. Key ratios for 2025 include a post-tax Return on Equity (ROAE) of 28.3 per cent, post-tax Return on Assets (ROAA) of 5.3 per cent, CAR of 43.8 per cent, and a cost-to-income ratio of 27.9 per cent.
As a leading financial services group with operations across Africa and the United Kingdom, GTCO has established a reputation for strong corporate governance, innovative financial solutions, and a customer-centric approach. Its portfolio spans banking, payments, funds management, and pension fund administration, positioning the Group to drive growth and long-term value across its markets.
