Guaranty Trust Holding Company Plc (“GTCO” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2025, to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE).
The Group posted a Profit Before Tax (PBT) of ₦300.4 billion, driven by strong growth in core income lines. Interest income rose year-on-year by 41.1%, while fee income increased by 41.2%, underscoring the strength and resilience of GTCO’s diversified business model. The robust performance helped offset the non-recurrence of the ₦331.6 billion fair value gains recognized in Q1 2024.
GTCO's loan book (net) grew by 15.6%, rising from ₦2.79 trillion in December 2024 to ₦3.22 trillion in March 2025. Deposit liabilities also increased by 7.7%, from ₦10.40 trillion to ₦11.20 trillion. The Group’s total assets closed at ₦15.9 trillion, while shareholders’ funds stood at ₦3.0 trillion.
Maintaining a well-diversified, de-risked balance sheet, the Group posted a Full Impact Capital Adequacy Ratio (CAR) of 34.6%, a strong indication of financial health. Asset quality also improved, with IFRS 9 Stage 3 Loans closing at 3.3% at the Bank level and 4.5% at the Group level, compared to 3.5% and 5.2%, respectively, in December 2024. Cost of Risk (CoR) dropped significantly to 0.4%, down from 4.9%.
Commenting on the results, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO Plc, stated: “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.”
He added: “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 rank among the best in Nigeria’s financial services industry, with leading metrics including a Pre-Tax Return on Equity (ROAE) of 42.2%, Pre-Tax Return on Assets (ROAA) of 7.8%, Capital Adequacy Ratio of 34.6%, and a Cost-to-Income Ratio of 29.0%.
Guaranty Trust Holding Company Plc (GTCO Plc) is a top-tier financial services group with operations across Africa and the United Kingdom. The Group is well-regarded for its strong corporate governance, innovative financial services, and commitment to delivering long-term value to stakeholders. Its service offerings span banking, payments, asset and pension fund management, and other non-banking financial services, all aimed at fostering inclusive growth across its markets.
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