GTCO Sustains Profit Growth, Reports N300.4bn PBT In Q1 2025
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Guaranty Trust Holding Company Plc (GTCO) has announced a profit before tax (PBT) of ₦300.4 billion for the first quarter of 2025, demonstrating strong performance despite the absence of a one-off fair value gain recorded in the same period last year.
The financial results, released to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), highlight a solid year-on-year growth in core income. Interest income rose by 41.1%, while fee and commission income increased by 41.2%, underpinning the Group’s strong showing in Q1.
Despite the non-recurrence of a ₦331.6 billion fair value gain reported in Q1 2024, GTCO managed to sustain profitability through increased core earnings. The Group’s loan book rose by 15.6% to ₦3.22 trillion, up from ₦2.79 trillion in December 2024. Deposit liabilities also saw a 7.7% increase, climbing from ₦10.40 trillion to ₦11.20 trillion.
Total assets stood at ₦15.9 trillion, while shareholders’ funds reached ₦3.0 trillion as of March 31, 2025. The Group reported continued improvement in asset quality, with IFRS 9 Stage 3 loans reducing to 3.3% at the bank level and 4.5% at the group level, down from 3.5% and 5.2% respectively in December 2024. Cost of Risk (CoR) also improved significantly to 0.4% from 4.9% at the end of 2024.
GTCO’s Full Impact Capital Adequacy Ratio remained strong at 34.6%, reinforcing the Group’s sound financial footing.
Commenting on the results, Group Chief Executive Officer Segun Agbaje said, “Our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings. While the fair value gains of ₦331.6 billion reported in Q1 2024 did not recur this quarter, the Group recorded solid growth across most income lines, underpinned by a diversified revenue base and a healthy, well-structured balance sheet.”
Looking ahead, Agbaje expressed confidence in the Group’s trajectory for the year, stating, “We remain optimistic about the year ahead. The fundamentals of our business are strong, our customer base continues to grow, and we are executing with discipline across our strategic priorities. Importantly, at this pace, the Group is well-positioned to deliver the full-year PBT of 2024 at the very minimum by the end of the 2025 financial year.”
GTCO continues to lead the Nigerian financial services industry with top-tier performance metrics, including a Pre-Tax Return on Equity (ROAE) of 42.2%, Pre-Tax Return on Assets (ROAA) of 7.8%, and a Cost-to-Income ratio of 29.0%.
