REG - Guaranty Trust Hldng - Half-year Report

Guaranty Trust HoldingAnnouncement

23/09/2025 14:00

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RNS Number : 4896A  Guaranty Trust Holding Company PLC  23 September 2025

Guaranty Trust Holding Company Plc

 

AUDITED HALF YEAR GROUP RESULTS FOR THE PERIOD ENDED JUNE 30, 2025: DECLARES A
PBT OF N600.9BILLION

 

Lagos Nigeria - September 23, 2025 - Guaranty Trust Holding Company Plc
("GTCO"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of
diversified financial services, announces its audited Financial Results for
the period ended 30 June 2025 and declares a PBT of N600.9bn.

 

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust
Holding Company Plc, Mr. Segun Agbaje, said: "Our half year performance
reflects the strength of our core business and the progress we are making in
building a truly diversified financial services ecosystem. Beyond the
extraordinary one-off gains of last year, we are now driving sustainable
growth with recurring earnings that highlight the resilience and scalability
of our model. A key driver of this momentum is our continued investment in
technology, particularly the comprehensive upgrade of our core banking
systems, which is already delivering stronger uptime, greater efficiency, and
increased capacity to scale as our customer base grows."

 

He added: "Across Banking, Funds Management, Pension, and Payments, we are
leveraging a fully de-risked balance sheet to reinforce our market position
while maintaining strategic flexibility for growth. This foundation positions
us to take advantage of emerging opportunities and deliver lasting value for
all stakeholders."

 

Financial Highlights

 

·      Earnings

-  Profit before tax of ₦600.9bn (30 June 2024: N1.004tr) down 40.1% due to
non-recurrence of N493.01bn fair value gains booked in H1-2024, which offset
growth posted on funded income line.

-  Profit after tax therefore declined by 50.4% to ₦449.0bn from N905.6bn
as of 30 June 2024. Earnings Per Share closed at 1,359kobo relative to
3,212kobo per share as of 30 June 2024.

 

·      Revenue

-  Interest income grew significantly by 31.5% to ₦812.4bn (30 June 2024:
N617.9bn), principally due to Earning Assets (EA) volumes growth and improved
yield posted by the Banking Vertical and impressive AUM growth recorded by the
Non-Banking Business Verticals- GTFM and GTPFA, culminating in 43.6% expansion
in interest earned on fixed income securities, 22.6% on Placements and 22.1%
on Loans and advances.

 

-  Non-funded income (NFI) which comprises of Fee and Commission income
(58.2%), Net trading gains (14.6%), and Other Income (27.2%) dipped materially
by 66.4% to ₦260.3bn in H1-2025 from N774.7bn in H1-2024 primarily due to
marked reduction in Other Income line by 88.7% from N630.3bn in H1-2025 to
N70.9bn in H1-2025 that negates fee income growth arising from increase in
transactional volumes across Non-Banking and Banking verticals.

 

The Group booked N4.4bn fair value loss on the Financial Instrument in the
current period as against gain of N493.01bn of prior corresponding period on
the back of exchange rate stability. The drop in other income doused the 33.0%
and 24.4% growth recorded on fees and commission income and net trading
income, respectively.

 

-  Net interest margin was up by 180bps closing at 12.3% (30 June 2024:
10.5%) amidst pick-up in cost funds closing at 2.2% (30 June 2024: 1.54%).

 

·      Balance Sheet

-  Total assets of ₦16.692trn (31 December 2024: N14.796trn) up 12.8%.

-  Net loans and advances of ₦3.358trn (31 December 2024: N2.786trn) up
20.5%.

-  Deposit liabilities of ₦12.128trn (31 December 2024: N10.401trn) up
16.6%.

 

 

 

 

·      Credit Quality

-  IFRS 9 Stage 3 loans to total loans closed at 3.2% (31 December 2024:
3.5%) at Bank level. At Group, it closed at 4.5% (31 December 2024: 5.2%).

-  At Bank level, Coverage for lifetime credit impaired loans still top 100%
closing 193.5% (31 December 2024: 217.7%) while at Group, it closed at 124.1%
(31 December 2024: 138.7%).

-  Cost of Risk down to 1.7% (31 December 2024: 4.9%) 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) closed at 30.2% benefitting from strong core earnings
that curtailed cost pick up to 60bps from 24.2% for the period ended 30 June
2024.

 

·      Subsidiaries

 

Contribution to Group PBT from West Africa, East Africa and United Kingdom
increased to 30.8%, 1.6% and 1.7% in June 2025 from 13.0%, 1.1% and 1.1% in
June 2024, respectively. The improved contribution from Banking Entities
outside Nigeria led to decline in the contribution from the Nigeria Banking
Subsidiary from 84.0% as of June 2024 to 70.8% in June 2025. Also, Non-Banking
Entities contribution improved to 1.4% from 0.7% during the same period.

 

June 2025 Financial Analysis and Ratios

 

 Key Financials (N' billion)    H1-2025   H1-2024   ∆%
 Interest income                812.4     617.9     31.5%
 Non-interest income            260.3     774.7     -66.4%
 Operating income               821.3     1,205.9   -31.9%
 Operating expenses             258.5     201.8     28.1%
 Profit before tax              600.9     1,003.8   -40.1%
 Profit after tax               449.0     905.6     -50.4%
 Earnings per share (in Naira)  13.6      32.1      -57.7%

                                H1-2025   FY-2024   ∆%
 Total Assets                   16,692.1  14,795.7  12.8%
 Net Loans                      3,358.0   2,785.8   20.5%
 Deposit Liabilities            12,128.1  10,401.4  16.6%

 

 

 Key Ratios                          H1-2025  H1-2024
 ROAE (post-tax)                     31.5%    93.4%
 ROAA (post-tax)                     5.7%     15.0%
 ROAE (pre-tax)                      42.1%    103.6%
 ROAA (pre-tax)                      7.6%     16.6%
 Net interest margin                 12.3%    10.45%
 Cost-to-income ratio                30.1%    16.7%

                                     H1-2025  FY-2024
 Net loans to deposits               27.7%    26.8%
 Liquidity ratio                     43.0%    49.2%
 Capital adequacy ratio              36.2%    39.3%
 NPL/total loans                     4.5%     5.2%
 Cost of risk                        1.7%     4.9%
 Coverage (with Reg. Risk Reserves)  124.1%   138.7%

 

 

 

23 September 2025

 

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 N16.692trillion 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 Trust Fund Managers

14) Guaranty Trust Pension Manager

 

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