GT: Nigeria’s Most Valuable Bank Keeps Minting Cash
Guaranty Trust Holding Company reported a profit before tax of N300.4 billion, indicating stability in its core earnings and ongoing leadership in Nigeria's financial services sector.
Quick overview
- Guaranty Trust Holding Company reported a profit before tax of N300.4 billion, reflecting stability in its core earnings.
- Interest income increased by 41% year-over-year, while fee and commission income rose by 42%, despite the absence of a one-time fair value gain from the previous quarter.
- The Group's net loan book grew by 15.6% and customer deposit liabilities rose by 7.7%, indicating strong financial health.
- GT's capital adequacy ratio stood at 34.6%, showcasing a robust capital base and improved asset quality.
Guaranty Trust Holding Company reported a profit before tax of N300.4 billion, indicating stability in its core earnings and ongoing leadership in Nigeria’s financial services sector.
According to the results submitted to the London Stock Exchange and the Nigerian Exchange Group, GTCO’s interest income increased by 41% year-over-year, while fee and commission income rose by 42%. The non-recurrence of a one-time fair value gain of N331.6 billion recorded in the first quarter of 2024 partially mitigated these earnings.
The Group’s net loan book increased by 15.6 percent, from N2.79 trillion as of December 2024 to N3.22 trillion by the end of March 2025.
Customer deposit liabilities also improved during the reviewed period, rising from N10.40tn to N11.20tn, a 7.7 percent increase. The closing value of the shareholders’ funds was N3 trillion, while the total assets reached N15.9 trillion.
GT’s Full Impact Capital Adequacy Ratio closed at 34.6 percent, well above the legal minimum, demonstrating a strong capital base.
The Group also noted improvements in asset quality, as IFRS 9 Stage 3 loans decreased to 4 percent at the Group level (from 5 percent in December 2024) and 3 percent at the Bank level (from 3 percent). “Our Q1 2025 performance demonstrates the resilience of all our business verticals and our ability to produce robust and long-term profits.” Segun Agbaje said.
A diversified revenue base and a sound, well-structured balance sheet supported the Group’s strong growth across most income lines, even though the N331.6 billion in fair value gains reported in Q1 2024 did not occur this quarter. He also stated, “We are still hopeful about the coming year. Our customer base keeps expanding, our business’s foundation is solid, and our strategic priorities are disciplined.”
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