Guaranty Trust Holding Company Plc (GTCO) has released its half-year financials for 2025, showing a pre-tax profit of N601 billion, down from N1 trillion in the same period of 2024.
Profit after tax also fell to N449.01 billion from N905.57 billion the previous year.
Despite the earnings decline, the board maintained an interim dividend of N1.00 per share, identical to what was paid in H1 2024. The payout will go to shareholders registered as of October 7, 2025.
Gross earnings remained above the N1 trillion threshold, supported largely by a surge in interest income. Interest income climbed 71% year-on-year to N812.36 billion, contributing 76% of gross earnings, compared to 44% in H1 2024.
The bulk of this growth came from investments in securities, which contributed over 35% of gross earnings, surpassing the 27% from loans and advances. Income from loans rose 22% year-on-year to N299.63 billion, while securities income grew 44% to N375 billion.
International operations also played a role, generating N256 billion in interest income.
Interest expenses increased 43% year-on-year to N154 billion, driven largely by higher deposit costs. Nevertheless, they accounted for only 18% of total interest income. Net interest income rose nearly 29% to N632.24 billion, even after impairment charges on loans, which climbed to N54.97 billion.
Other income sources included fees and commissions, which rose 33% year-on-year to N151.46 billion. Electronic banking contributed N28.61 billion (down 11.97%), while commissions on touch points surged over 600% to N24.78 billion.
GTCO’s balance sheet reflected steady growth, with customer deposits rising 19% to N11.88 trillion, accounting for most of the bank’s total assets of N16.69 trillion.
The bank’s shares closed at N90 on September 22, 2025, representing a 63.2% year-to-date gain.
