REG - Guaranty Trust Hldng - 1st Quarter Results

Guaranty Trust HoldingAnnouncement

30/04/2026 12:15

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RNS Number : 6291C  Guaranty Trust Holding Company PLC  30 April 2026

Guaranty Trust Holding Company Plc

 

UNAUDITED Q1 GROUP RESULTS FOR THE PERIOD ENDED MARCH 31, 2026: DECLARES A PBT
OF N302.9BILLION

 

Lagos Nigeria - April 30, 2026 - Guaranty Trust Holding Company Plc ("GTCO"),
(Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of diversified
financial services, announces its unaudited Financial Results for the period
ended 31 March 2026 and declares a PBT of N302.9bn.

 

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust
Holding Company Plc, Mr. Segun Agbaje, said: "Our Q1 2026 results mark a
defining shift in the quality and composition of our earnings, with strong
underlying performance across our core banking operations and increasing
contribution from our ecosystem businesses. Building on the momentum from
prior periods, we delivered solid growth across our core income lines,
supported by disciplined execution and a well-diversified, strong, and healthy
balance sheet.

 

He further added: "Our focus remains on driving sustainable earnings by
deepening customer relationships, rapidly scaling our ecosystem businesses,
and deploying technology to deliver simpler, faster, and more intuitive
financial solutions. We see significant headroom across payments, wealth
management, and banking, both in Nigeria and across our West and East African
markets, and we are deliberately positioning the Group to capture these
opportunities while sustaining strong, long-term value creation."

 

 

Financial Highlights

 

·      Earnings

-  Profit before tax of ₦302.9bn (31 March 2025: N300.3bn) up 0.9%

-  Profit after tax dropped by 15.4% to ₦218.1bn from N257.9bn as of 31
March 2025 due to improvement in earnings quality as funded income constitute
82% of Gross earnings.

-  Earnings per share (EPS) closed at 589kobo relative to 783kobo per share
as of 31 March 2025 due to increase in the number of shares on the back
successful capital raising in FY-2024 and FY-2025.

 

 

·      Revenue

 

-  Interest income of ₦467.0bn (31 March 2025: N397.4bn) up by 17.5%,
driven by growth in the Earning Assets (EA) volumes of Banking Entities and
impressive AUM and TPV growth recorded by the Non-Banking Business Verticals-
GTFM, GTPFA and Habari, culminating in 30.5% expansion in interest earned on
Placements, 24.8% on Loans and advances and 6.9% on fixed income securities.

 

-  Non-funded income (NFI) down by 17.1% y-o-y (₦104.4bn vs N125.9bn)
primarily due to 105.1% reduction in Other Income from N30.7bn in Q1-2025YTD
to negative N1.6bn in Q1-2026YTD, the decline fully offset the 7.1% growth
from Fee and commission income and 26.9% growth in Net Trading Income as the
Group recorded significant increase in transactional volumes across its
Banking and Non-Banking Verticals. The interplay led to Fee and Commission
income accounting for 76.9%, Net trading gains (24.6%), and Other Income
(-1.5%) of Non-Funded Income.

 

In specifics, the Group booked Negative N40.4bn fair value loss on the
Financial Instrument in the current period as against N1.5bn fair value gain
posted in prior corresponding period owing to 4% appreciation of Naira against
the USD.

 

-  Net interest margin was down by 70bps closing at 11.9% (31 March 2025:
12.6%) due to combined impact of decrease in Earnings Asset yield to 13.99% in
Q1-2026YTD from 15.01% in Q1-2025YTD, and 36 bps improvement in cost of funds
to 1.85% (31 March 2025: 2.21%)

 

 

·      Balance Sheet

-  Total assets of ₦18.746trn (31 December 2025: N17.761trn) up 5.5%.

-  Net loans and advances of ₦3.171trn (31 December 2025: N3.132trn) up
1.3%.

-  Deposit liabilities of ₦13.686trn (31 December 2025: N12.874trn) up
6.3%.

 

·      Credit Quality

-  IFRS 9 Stage 3 loans to total loans closed at 3.8% (31 December 2025:
3.4%) at Bank level. At Group, it closed at 4.4% (31 December 2025: 5.0%)

 

-  Coverage for lifetime credit impaired loans still top 100% at Group &
Bank level closing 117.7% and 188.5% (31 December 2025: 106.9% & 192.5%)
respectively.

 

-  Cost of Risk dropped to 0.2% (31 December 2025: 2.2%) on the back of
improved Asset quality as the Group continued to benefit from its derisked
Balance sheet.

 

·      Continued focus on efficiency.

-  Cost to income (CIR) at Group level closed at 31.5% (Bank: 31.2%)
benefitting from strong net-Core earnings growth of 10.6% (N428.1bn v
N385.3bn) that curtailed 13.7% pick up in Operating Expenses (OPEX) (N139.2bn
v N122.4bn)

 

 

·      Subsidiaries

 

Contribution to Group PBT from West Africa, Non-Banking Entities (NBS) and
East Africa increased to 28.2%, 2.5% nd 1.5% in March 2026 from 26.7%, 1.3%
and 1.4% in March 2025 respectively. while United Kingdom contribution
declined to 1.0% from 1.8% during the same period. The improvement in
contributions from NBS, East Africa and West Africa Banking Entities outside
Nigeria caused contribution from the Nigeria Banking Subsidiary to drop from
68.7% in March-2025 to 66.6% in March-2026.

 

 

March 2026 Financial Analysis and Ratios

 

 

 Key Financials (N' billion)    Q1-2026   Q1-2025   ∆%
 Interest Income                467.0     397.4     17.5%
 Non-interest income            104.4     125.9     -17.1%
 Operating Income               442.3     422.7     4.6%
 Operating expenses             139.2     122.4     13.7%
 Profit before tax              302.9     300.3     0.9%
 Profit After Tax               218.1     257.9     -15.4%
 Earnings per share (in Naira)  6.2       7.8       -20.9%

                                Q1-2026   FY-2025   ∆%
 Total Assets                   18,745.6  17,761.2  5.5%
 Net Loans                      3,171.5   3,132.3   1.3%
 Deposit Liabilities            13,686.3  12,874.0  6.3%

 

 

 

 Key Ratios                          Q1-2026  Q1-2025
 ROAE (post-tax)                     24.8%    36.3%
 ROAA (post-tax)                     4.8%     6.7%
 ROAE (pre-tax)                      34.4%    42.2%
 ROAA (pre-tax)                      6.6%     7.8%
 Net interest margin                 11.9%    12.6%
 Cost-to-income ratio                31.5%    29.0%

                                     Q1-2026  FY-2025
 Net Loans to deposits               23.2%    24.3%
 Liquidity ratio                     57.6%    56.7%
 Capital adequacy ratio              39.5%    43.8%
 IFRS 9 Stage 3 Loans                4.4%     5.0%
 Cost of risk                        0.2%     2.2%
 Coverage (with Reg. Risk Reserves)  117.7%   106.9%

 

 

30 April 2026

 

 

 

 

 

Enquiries:

 

 Guaranty Trust

 Oyinade Adegite, Head, Group Communication   +234-1-2715227

 Charles Eremi, Group Communication

 ir@gtcoplc.com (mailto:ir@gtcoplc.com)

 

Notes to the Editors:

 

Guaranty Trust Holding Company Plc is a diversified financial services company
with N17.467trillion in assets, providing commercial banking services and
non-banking financial services across eleven countries.

 

The Group operates as one of the leading Nigerian financial services companies
offering a wide range of commercial banking as well as non-banking financial
services in Nigeria, West Africa, East Africa, and the United Kingdom. The
Group is rated B- by S&P, a reflection of the Group's stability and
reputation of being a well-established franchise with strong asset quality and
consistent excellent financial performance.

 

The Group has the following Banking subsidiaries (including sub-subsidiaries)
and non-banking subsidiaries within and outside of Nigeria -

 

1)   Guaranty Trust Bank (Nigeria) Limited     ("GTB Nigeria"),

2)   Guaranty Trust Bank (Gambia) Limited    ("GTB Gambia"),

3)   Guaranty Trust Bank (Sierra Leone) Limited ("GTB Sierra Leone"),

4)   Guaranty Trust Bank (Ghana) Limited      ("GTB Ghana"),

5)   Guaranty Trust Bank (Liberia) Limited     ("GTB Liberia"),

6)   Guaranty Trust Bank (United Kingdom) Limited ("GTB UK")

7)   Guaranty Trust Bank (Cote D'Ivoire)        ("GTB Cote
D'Ivoire"),

8)   Guaranty Trust Bank (Kenya) Limited      ("GTB Kenya"),

9)   Guaranty Trust Bank (Rwanda) Plc Limited ("GTB Rwanda"),

10) Guaranty Trust Bank (Uganda) Limited    ("GTB Uganda")

11) Guaranty Trust Bank (Tanzania) Limited ("GTB Tanzania")

12) Habari Pay (Nigeria) Limited

13) Guaranty Fund Managers

14) Guaranty Pension Fund Administrator.

 

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