Guaranty Trust Holding Company Plc, GTCO, recorded N603.03 billion in profit before tax for the first half of 2026, while proposing a dividend of N1 per share.

The financial performance was supported by growth in interest and trading income, which increased by 7.5 percent and 24.7 percent year-on-year respectively.

However, the stronger operating performance was partly offset by a N46.2 billion fair value loss recorded during the period. As a result, profit before tax increased marginally by 0.4 percent compared with the corresponding period.

The figures were contained in GTCO’s audited consolidated and separate financial statements for the six months ended June 30, 2026, submitted to the Nigerian Exchange Group and London Stock Exchange.

The financial statements showed that the group’s total assets stood at N18.6 trillion at the end of June, while shareholders’ funds rose to N3.3 trillion.

GTCO’s capital position also remained strong during the period. The Group Capital Adequacy Ratio stood at 34.9 percent, while the banking business recorded a ratio of 29.2 percent.

Asset quality improved during the period, with IFRS 9 Stage 3 loans declining to 3.5 percent at the bank level and 4.6 percent at the group level. This compares with 3.4 percent and 5.0 percent respectively at the end of 2025.

The group’s cost of risk also improved substantially, falling to 0.6 percent from 2.2 percent recorded during the corresponding period.

GTCO’s net loan book recorded modest growth during the six months. It increased by 0.5 percent from N3.13 trillion in December 2025 to N3.15 trillion by June 2026.

Deposits, however, recorded stronger growth, rising by 10.3 percent from N12.87 trillion to N14.19 trillion over the same period.

Commenting on the results, GTCO Group Chief Executive Officer, Segun Agbaje, said the performance reflected the resilience of the group’s franchise and balance sheet.

Agbaje said fair value movements affected reported earnings, while the core business continued to record growth in interest and trading income. He also pointed to stronger deposits and improved asset quality at group level.

According to him, the group’s next priority is disciplined and responsible growth, with digital operations expected to support expansion across banking, payments, pensions and funds management.

GTCO also reported a pre-tax return on equity of 35.9 percent and a pre-tax return on assets of 6.6 percent.

Its cost-to-income ratio stood at 31.5 percent, while the group’s capital adequacy ratio remained at 34.9 percent.