Guaranty Trust Holding Company Plc (GTCO) has announced a Profit Before Tax (PBT) of ₦300.4 billion for the first quarter ended March 31, 2025, reflecting a strong start to the year and reinforcing its dominance in Nigeria’s financial services landscape.
The unaudited Q1 results, filed with both the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), reveal a 41.1% year-on-year surge in interest income, while fee and commission income also rose by 41.2%.
These income streams helped buffer the impact of the absence of a one-off fair value gain of ₦331.6 billion that had boosted earnings in Q1 2024.
GTCO’s loan portfolio expanded by 15.6%, growing from ₦2.79 trillion at the end of December 2024 to ₦3.22 trillion by March 2025. Meanwhile, customer deposits increased by 7.7%, rising from ₦10.40 trillion to ₦11.20 trillion over the same period.
The Group’s total assets stood at ₦15.9 trillion, with shareholders’ equity closing at ₦3.0 trillion. GTCO also maintained a robust capital position, as its Full Impact Capital Adequacy Ratio reached 34.6%, well above the regulatory threshold.
Significant improvements were also recorded in asset quality. Non-performing loans (IFRS 9 Stage 3) dropped to 4.5% at the Group level (from 5.2% in December 2024) and to 3.3% at the Bank level (down from 3.5%).
The cost of risk declined sharply to 0.4%, compared to 4.9% at year-end 2024, signalling enhanced credit quality and more effective risk management.
Commenting on the performance, Group Chief Executive Officer Segun Agbaje noted, “Our first-quarter results reflect the resilience of our business model and the strength of our diversified earnings base. The Group’s balance sheet remains solid, and we are well-positioned to deliver long-term value to all stakeholders.”
