GTCO Plc reports N879.9 billion profit before tax in Q3 2026 unaudited results
Guaranty Trust Holding Company Plc, GTCO, has released its unaudited consolidated and separate financial statements for the period ended September 30, 2026 to the Nigerian Exchange Group, NGX, and London Stock Exchange, LSE.
The group posted a profit before tax of N879.9 billion for the third quarter of 2026, driven by sustained growth across core earnings. Interest income grew by 5.0 percent, fees and commission income by 1.4 percent and trading income by 3.1 percent year on year.
The performance was delivered despite a N87.9 billion fair value loss recognised in the period. Profit before tax moderated slightly by 2.3 percent from N900.8 billion recorded in Q3 2025.
GTCO total assets grow to N18.37 trillion, deposit liabilities rise by 8.6 percent
GTCO total assets grew by 3.5 percent to N18.37 trillion as at September 2026 compared to N17.76 trillion in December 2025, while shareholders funds closed at N3.5 trillion.
Capital Adequacy Ratio remained strong at 34.2 percent for the group and 33.9 percent for the bank. Asset quality also improved with IFRS 9 Stage 3 Loans closing at 4.0 percent at group level from 5.0 percent in full year 2025 and 3.4 percent at bank level. Cost of Risk improved to 0.9 percent from 2.2 percent, while coverage for credit impaired loans closed at 130.7 percent from 106.9 percent in full year 2025.
Deposit liabilities grew by 8.6 percent from N12.87 trillion in December 2025 to N13.98 trillion in September 2026, showing the strength of the group deposit franchise, while net loan book moderated by 4.1 percent to N3.00 trillion in line with disciplined approach to risk asset creation.
Earnings quality also improved with funded income rising to 77.8 percent of gross earnings and net core earnings growing by 4.4 percent to N1.505 trillion, while profit after tax closed at N614.6 billion compared to N699.6 billion in Q3 2025, reflecting changes to Companies Income Tax regulation which affected capital allowance reliefs.
The group continues to maintain a well structured, healthy, liquid and diversified balance sheet across all jurisdictions where it operates a banking franchise, as well as across its payments, pension and funds management businesses.
Segun Agbaje speaks on GTCO Q3 2026 performance
Commenting on the results, Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said the Q3 performance reflects strength of a franchise built on scale, efficiency and discipline.
He said despite challenging operating environment and significant fair value losses in the period, core earnings continued to grow, deposit base expanded strongly, cost efficiency remains among the best in the industry and balance sheet remains strong, liquid and well capitalised.
He added that going forward the group will continue to optimise risk free returns wherever it sees them and will always be positioned to take advantage of arbitrage opportunities as market conditions evolve, without compromising quality of risk assets. The group will also continue to evolve its platforms and adapt to new technologies to meet changing needs of customers while remaining focused on delivering sustainable value and superior returns to shareholders.
Overall, GTCO continues to post some of the best metrics in the Nigerian financial services industry with pre-tax Return on Average Equity of 34.0 percent, pre-tax Return on Average Assets of 6.5 percent, Capital Adequacy Ratio of 34.2 percent and Cost to Income Ratio of 31.2 percent.
GTCO Plc is a leading financial services group with operations across Africa and the United Kingdom, known for strong corporate governance, innovative financial solutions and customer centric approach. The group provides banking and non banking services including payments, funds management and pension fund administration.
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