GTCO Posts N603bn Profit in H1 2026, Declares N1 Interim Dividend
- GTCO’s profit before tax rose marginally by 0.4% year-on-year to N603.03 billion in the first half of 2026
- The group’s total assets increased to N18.6 trillion, while deposits rose 10.3% to N14.19 trillion
- GTCO declared an interim dividend of N1 per share as its cost of risk improved to 0.6%
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Legit.ng journalist Dave Ibemere has over a decade of business journalism experience, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Guaranty Trust Holding Company Plc (GTCO) recorded a profit before tax (PBT) of N603.03 billion in the first half of 2026, representing a marginal 0.4% increase from the corresponding period of 2025.
The financial services group also declared an interim dividend of N1 per share to shareholders.
Source: Getty Images
GTCO disclosed this in its audited consolidated and separate financial statements for the six months ended June 30, 2026, released to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The group said its performance was driven mainly by growth in interest and trading income, which increased by 7.5% and 24.7% year-on-year, respectively.
However, the gains were partly offset by a N46.2 billion fair value loss recorded during the period, limiting the growth in profit before tax to 0.4%.
Breakdown of GTCO’s financial performance
- Total assets: N18.6 trillion as of June 2026
- Shareholders’ funds: N3.3 trillion
- Net loan book: N3.15 trillion, up 0.5% from N3.13 trillion in December 2025
- Customer deposits: N14.19 trillion, up 10.3% from N12.87 trillion
- Pre-tax return on equity (ROE): 35.9%
- Pre-tax return on assets (ROA): 6.6%
- Cost-to-income ratio: 31.5%
GTCO reports improvement in asset quality
- Stage 3 loans: 3.5% at the bank level, compared with 3.4% at December 2025
- Stage 3 loans: 4.6% at the group level, compared with 5.0% at December 2025
- Cost of risk: 0.6%, down from 2.2% in the corresponding period of 2025
- Group capital adequacy ratio (CAR): 34.9%
- Banking subsidiary CAR: 29.2%
Source: Getty Images
CEO speaks on performance
Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the strength of the group’s balance sheet and the growth of its operations beyond traditional banking.
Agbaje said fair value movements affected reported earnings during the period but added that the group’s core business remained strong, supported by growth in interest and trading income, higher deposits and improved asset quality.
He said GTCO would continue to focus on disciplined execution and responsible growth, with its digital operations expected to support expansion across its banking, payments, pension and funds management businesses.
GTCO operates banking and other financial services businesses across Africa and the United Kingdom.
Access Bank transfers Kenya business, assets
Earlier, Legit.ng reported that the Central Bank of Kenya (CBK) has given the green light for the transfer of Access Bank (Kenya) Plc's business, assets and liabilities to National Bank of Kenya Limited (NBK).
The CBK said it first granted approval on August 17, 2026, under Section 13(4) of the Banking Act. Kenya's Cabinet Secretary for the National Treasury and Economic Planning.
CBK said the transfer will take effect once the transaction is completed in accordance with the terms of the Business and Assets Transfer Agreement signed between Access Bank Kenya and NBK.
Source: Legit.ng
