Guaranty Trust Holding Company Plc (GTCO) reported a 2.3% decline in nine-month pre-tax profit, while deposits expanded and lending contracted, giving investors a mixed picture of the Nigerian financial group’s results.
Unaudited consolidated statements filed with Nigerian Exchange Group show pre-tax profit of 879.9 billion naira for the nine months ended Sept. 30, 2026, compared with 900.8 billion naira in the same period of 2025. The filing separately reports 276.9 billion naira in pre-tax profit for the July-September quarter, down from 299.9 billion naira a year earlier. The quarterly figure adds detail to EconoTimes’ earlier coverage of GTCO’s nine-month earnings.
GTCO’s results announcement, dated Oct. 27, said interest income grew 5% over the nine-month period. Fee and commission income rose 1.4%, and trading income increased 3.1%. The company also reported a fair-value loss of 87.9 billion naira.
Profit after tax fell to 614.6 billion naira from 699.6 billion naira a year earlier. GTCO attributed that decline to changes in Companies Income Tax regulations affecting capital allowance reliefs. The company’s explanation concerned after-tax profit; it did not attribute the decrease in pre-tax profit to those tax changes.
The group’s deposits reached 13.98 trillion naira at Sept. 30, up 8.6% from 12.87 trillion naira at the end of 2025. Its net loan book decreased 4.1% over the same comparison, to 3 trillion naira. Total assets rose to 18.37 trillion naira from 17.76 trillion naira at year-end 2025.
GTCO reported a group capital adequacy ratio of 34.2%. Group Stage 3 loans stood at 4%, compared with 5% at the end of 2025, while cost of risk declined to 0.9% from 2.2%.
Group Chief Executive Officer Segun Agbaje said the results reflected the franchise’s scale, efficiency and discipline. He also said GTCO would pursue “risk-free returns” and “arbitrage opportunities” while protecting the quality of its risk assets.
