GTCO Reports N299.9bn Q3 Profit, Up 39% Year-on-Year

Guaranty Trust Holding Company Plc (GTCO) has announced a pretax profit of N299.9 billion for the third quarter of 2025, representing a 39% year-on-year increase, as strong growth in core banking operations and non-interest income lifted its performance.

According to the company’s unaudited financials, gross earnings rose 15.5% year-on-year to N532 billion, from N461 billion in Q3 2024. This brought the nine-month pre-tax profit to N900.8 billion, down 26% from the previous year, reflecting the absence of the exceptional foreign exchange gains that had inflated earnings in 2024.

Key Performance Metrics

GTCO reported net interest income of N319.9 billion in Q3 2025, up 10.3% year-on-year, and a significant jump in non-interest revenue to N102.3 billion, a 292% increase from the same period last year.
Operating profit before impairment stood at N408.6 billion, while post-tax profit climbed 39.7% to N250.6 billion, translating to an earnings per share (EPS) of N7.54 – up 17.6% year-on-year.

The Group’s total assets reached N16.66 trillion, a 13.4% increase, while customer deposits rose to N11.85 trillion, up 18.3%. Customer loans and advances expanded 16.5% to N3.24 trillion, and shareholders’ funds surged 24.1% to N3.37 trillion.

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Earnings Drivers

GTCO’s growth was largely driven by a 15.5% increase in interest income, which rose to N418.5 billion, reflecting the expansion of its loan portfolio.
However, interest expense also grew sharply by 36% to N98.6 billion, mirroring the high deposit pricing and costlier wholesale funding trend across Nigeria’s banking sector.
Despite the pressure on funding costs, net interest income rose to N319.9 billion, while loan impairment charges dropped 8.3% to N14.8 billion.

Non-interest revenue provided an additional boost, as trading income climbed to N39.3 billion from N29.8 billion, supported by improved treasury and foreign exchange operations. Other income rebounded to a gain of N14.9 billion, compared to a loss of N52.9 billion in Q3 2024.

Balance Sheet Insights

The Group’s balance sheet showed sustained strength, with total investment securities increasing 25% to N4.91 trillion. The mix between loans and investments suggests a more cautious stance focused on liquidity, yield optimization, and portfolio safety.

Retained earnings rose 26.2% to N1.67 trillion, while the share premium account jumped 48.6% to N489.4 billion, reflecting strong internal capital generation and a capital injection during the period.

While profit for the first nine months of 2025 declined to N699.64 billion from N1.085 trillion in 2024, GTCO’s solid core earnings underline a more sustainable profit path anchored in traditional banking operations rather than one-off revaluation gains.