GTCO Plc Posts ₦900.8bn Profit Before Tax in Q3 2025 Amid Strong Core Earnings and Asset Growth

…Records 16% rise in deposits, maintains 36.5% capital adequacy ratio

By Naija247news Business Desk

Lagos, Nigeria | October 28, 2025 — Guaranty Trust Holding Company Plc (GTCO), one of Nigeria’s leading financial conglomerates, has released its unaudited results for the nine months ended September 30, 2025, showing robust earnings momentum despite a challenging macroeconomic environment.

According to the financials filed with both the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), GTCO posted a Profit Before Tax (PBT) of ₦900.8 billion, reflecting the Group’s resilience and strategic balance across its diversified business portfolio.

The report revealed that the impressive performance was largely driven by strong growth in interest income and fee-based income, which rose year-on-year by 25.6% and 16.8%, respectively. This helped cushion the effect of the ₦523.2 billion fair value gains recognized in Q3 2024 that did not recur in the current financial year.

Despite that one-off adjustment, the Group narrowed the year-on-year decline in PBT to 26%, signaling consistent underlying strength in its core business operations.

Balance Sheet Expansion and Improved Asset Quality

GTCO’s total assets climbed to ₦16.7 trillion in September 2025, from ₦14.5 trillion at the end of 2024, while shareholders’ funds surged to ₦3.3 trillion—a testament to the Group’s disciplined capital management and strategic balance sheet optimization.

The Capital Adequacy Ratio (CAR), a key indicator of financial stability, remained solid at 36.5%, well above the regulatory minimum, reflecting the Group’s strong capital buffers.

Equally, asset quality continued to improve across its banking subsidiaries. IFRS 9 Stage 3 loans—a measure of non-performing credit—stood at 3.3% at the Bank level and 4.4% at the Group level, down from 3.5% and 5.2%, respectively, as of December 2024. The Cost of Risk (COR) also fell significantly to 2.2%, compared to 4.9% recorded at the close of last year.

This improvement was underpinned by stronger risk management processes and enhanced credit recovery strategies across key markets.

Loan and Deposit Growth Signals Investor Confidence

In line with its growth trajectory, GTCO expanded its loan book by 16.5%, from ₦2.79 trillion as of December 2024 to ₦3.24 trillion by the end of September 2025. Deposit liabilities also grew by 16.0%, from ₦10.40 trillion to ₦12.06 trillion during the same period—underscoring sustained customer trust and liquidity strength.

This performance reflects GTCO’s ability to attract stable funding sources while maintaining prudent lending practices in an inflationary environment marked by monetary tightening, FX volatility, and fiscal reforms.

CEO Segun Agbaje: “Our Resilience Reflects a Strong Business Model”

Speaking on the results, Mr. Segun Agbaje, the Group Chief Executive Officer of GTCO Plc, highlighted the company’s consistent performance and long-term focus on value creation.

“Our third-quarter performance underscores the consistency and resilience of our business model, as well as the continued strength of our diversified financial services ecosystem,” Agbaje said.

“We are seeing steady, sustainable growth across our banking and non-banking businesses, supported by disciplined execution and a strong focus on operational efficiency. The improvements we have made to our digital and payments infrastructure are enhancing customer experience, deepening engagement, and driving greater integration across our ecosystem.”

Agbaje further emphasized that the Group remains focused on innovation, operational excellence, and superior customer outcomes, as GTCO positions itself to sustain performance momentum into the fourth quarter and beyond.

“With a clear growth trajectory and strong organizational alignment, we are well-positioned to deliver another year of industry-leading results,” he added.

Financial Ratios Reflect Robust Industry Standing

GTCO continues to outperform peers across key profitability and efficiency metrics. For the review period, the Group posted:

• Pre-Tax Return on Equity (ROAE): 39.5%
• Pre-Tax Return on Assets (ROAA): 7.6%
• Capital Adequacy Ratio (CAR): 36.5%
• Cost-to-Income Ratio: 28.8%

These ratios reaffirm GTCO’s operational efficiency and strong profitability profile, placing it among the most financially sound institutions in Nigeria’s banking industry.

Diversified Operations Across Africa and the UK

Guaranty Trust Holding Company Plc operates an integrated financial services model spanning banking, payments, funds management, and pension fund administration across Africa and the United Kingdom.

The Group’s transition from Guaranty Trust Bank Plc to a holding company structure has continued to yield dividends, allowing for strategic expansion into non-banking verticals and cross-border synergies.

Renowned for its strong corporate governance and innovation-driven culture, GTCO remains committed to delivering sustainable value to shareholders, empowering customers through technology, and contributing to economic growth in its operating markets.

Outlook: Sustained Growth Amid Economic Reforms

Analysts say GTCO’s Q3 results provide a strong foundation heading into the final quarter of 2025, as Nigeria’s financial sector continues to adjust to fiscal reforms, higher interest rates, and exchange rate unification.

With its strong capital base, digital agility, and diversified income streams, GTCO Plc appears well-positioned to leverage emerging opportunities in payments, wealth management, and regional expansion — sustaining its legacy as one of Africa’s most profitable and forward-looking financial groups.

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Reporting by Peter Anene, Business Editor in Lagos, Nigeria.