Guaranty Trust Holding Company Plc has released its unaudited consolidated and separate financial statements for the quarter ended March 31, 2025. The results show a resilient performance, with the Group reporting a profit before tax (PBT) of ₦300.4 billion, underscoring its ability to sustain profitability despite the absence of last year’s non-recurring gains.
The Group’s core earnings showed strong growth, with interest income rising year-on-year by 41.1% and fee and commission income up by 41.2%. These gains helped offset the impact of the ₦331.6 billion in fair value gains recorded in Q1 2024, which did not recur in the current reporting period.
GTCO’s balance sheet remained solid and well-diversified. The Group’s loan book (net) expanded by 15.6% from ₦2.79 trillion in December 2024 to ₦3.22 trillion in March 2025. Deposit liabilities also grew by 7.7%, increasing from ₦10.40 trillion to ₦11.20 trillion over the same period.
Total assets rose to ₦15.9 trillion, while shareholders’ funds stood at ₦3.0 trillion. Asset quality improved significantly, as reflected in the reduction of IFRS 9 Stage 3 loans, which dropped to 3.3% at the bank level and 4.5% at the Group level, from 3.5% and 5.2%, respectively, as at December 2024. Cost of Risk (CoR) also improved markedly to 0.4%, down from 4.9% at year-end 2024. The Group’s Full Impact Capital Adequacy Ratio (CAR) remained strong at 34.6%.
Commenting on the financial performance, Segun Agbaje, Group Chief Executive Officer of GTCO, said:
“Our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings. While the fair value gains of ₦331.6 billion reported in Q1 2024 did not recur this quarter, the Group recorded solid growth across most income lines, underpinned by a diversified revenue base and a healthy, well-structured balance sheet.”
He added, “We remain optimistic about the year ahead. The fundamentals of our business are strong, our customer base continues to grow, and we are executing with discipline across our strategic priorities. Importantly, at this pace, the Group is well-positioned to deliver at least the full-year PBT achieved in 2024 by the end of 2025.”
GTCO continues to lead the Nigerian financial services industry in key performance metrics, with a Pre-Tax Return on Equity (ROAE) of 42.2%, Pre-Tax Return on Assets (ROAA) of 7.8%, Full Impact CAR of 34.6%, and a Cost-to-Income ratio of 29.0%.
Guaranty Trust Holding Company Plc is a foremost financial services group with operations across Africa and the United Kingdom. Known for its strong corporate governance, innovative financial products, and commitment to customer satisfaction, GTCO offers a range of banking and non-banking services, including payments, asset management, and pension fund administration. The Group remains committed to delivering long-term value to all stakeholders and promoting economic development across its markets.
