29th Oct 2026 12:22
Guaranty Trust Holding Company Plc
UNAUDITED Q3 GROUP RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2026: DECLARES A PBT OF N879.9BILLION
Lagos Nigeria - October 27, 2026 - Guaranty Trust Holding Company Plc ("GTCO"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of diversified financial services, announces its unaudited Financial Results for the period ended 30 September 2026 and declares a PBT of N879.9bn.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc Mr. Segun Agbaje, said: "Our performance in Q3 reflects the strength of a franchise built on scale, efficiency and discipline. Despite a challenging operating environment and significant fair value losses in the period, our core earnings continued to grow, our deposit base expanded strongly, our cost efficiency remains among the best in the industry, and our balance sheet remains strong, liquid and well capitalised. Looking ahead, we will always optimise risk-free returns wherever we see them and will always be positioned to take advantage of arbitrage opportunities as market conditions evolve, without compromising the quality of our risk assets. We will also continue to evolve our platforms and adapt to new technologies to meet the changing needs of our customers, as we remain focused on delivering sustainable value and superior returns to our shareholders."
Financial Highlights
● Earnings
- Profit before tax of ₦879.9bn (30 September 2025: N900.8bn) down 2.3% due to significant fair value loss of N87.9bn which offset the 5.0% growth recorded on the funded income line
- Profit after tax dipped by 12.2% to ₦614.6bn in Q3-2026YTD from N699.6bn Q3-2025YTD partly due to changes to CIT regulation which affected Capital allowance reliefs and improvement in earnings quality evidenced by marked funded income whose contribution rose to 77.8% of Gross earnings.
- Earnings per share (EPS) closed at 1,658kobo relative to 2,071kobo per share as of 30 September 2025 due to increase in the number of outstanding shares occasioned by the successful capital raising in FY-2024 and FY-2025.
● Revenue
- Interest income grew y-o-y by 5% to ₦1.291trn (30 September 2025: N1.230trn), on the back of continued expansion in earnings assets volume and a 62% and 9.9% increase in income from Placements and Fixed Income Securities respectively which was adequate to cushion the 66bps moderation in earning-asset yield.
- Non-funded income (NFI) which comprises of Fee and Commission income (58.0%), Net trading gains (21.6%), and Other Income (20.3%) however, declined by 1.5% to ₦368.0bn in Q3-2026YTD from N373.6bn in Q3-2025YTD primarily due to 12.9% reduction in Other Income, reflecting significant increase in Fair value loss by N38.7bn, this negative impact counter the 1.4% growth in Fees and Commission and 3.1% growth in trading income arising from efficient dealing room activities.
- Net interest margin down by 47bps closing at 11.7% (30 September 2025: 12.2%) owing to decline in yield to 13.9% in Q3-2026YTD from 14.6% in Q3-2025YTD, the yield decline was moderated by savings on cost of funds closing at 1.88% (30 September 2025: 2.11%).
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● Balance Sheet
- Total assets of ₦18.374trn (31 December 2025: N17.761trn) up 3.5%.
- Net loans and advances of ₦3.004trn (31 December 2025: N3.132trn) down 4.1%.
- Deposit liabilities of ₦13.976trn (31 December 2025: N12.874trn) up 8.6%.
● Credit Quality
- IFRS 9 Stage 3 facilities to total loans closed at 3.4% (31 December 2025: 3.4%) at Bank level. At Group, it closed at 4.0% (31 December 2025: 5.0%)
- Coverage for lifetime credit impaired loans still top 100% at Group & Bank level closing 130.7% and 213.1% (31 December 2025: 106.9% & 192.5%) respectively.
- Cost of Risk dropped to 0.9% (31 December 2025: 2.2%) on the back of improved Asset quality as the Group continued to benefit from its derisked Balance sheet.
● Continued focus on efficiency.
- Cost to income (CIR) at Group level closed at 31.2% benefitting from net-Core earnings growth of 4.4% (N1.505trn v N1.441trn) that curtailed 9.5% pick up in Operating Expenses (OPEX) (N399.8bn v N365.0bn)
● Subsidiaries
Contribution to Group PBT from Non-Banking Entities (NBS) increased from 1.6% in Q3- 2025 to 2.7% in Q3- 2026. During the same period, the contributions from West Africa, East Africa and United Kingdom closed at 29.5%, 1.2% and 1.0% relative to prior period contribution of 30.8%, 1.5% and 1.7% in Q3-2025 respectively, Nigeria's contribution remained flat (65.6% v 64.5%) post-intragroup adjustment.
September 2026 Financial Analysis and Ratios
Key Financials (N' billion) | Q3-2026 | Q3-2025 | ∆% |
Interest Income | 1,291.9 | 1,230.9 | 5.0% |
Non-interest income | 368.0 | 373.6 | -1.5% |
Operating Income | 1,243.7 | 1,228.6 | 1.2% |
Operating expenses | 399.8 | 365.0 | 9.5% |
Profit before tax | 879.9 | 900.8 | -2.3% |
Profit After Tax | 614.6 | 699.6 | -12.2% |
Earnings per share (in Naira) | 16.6 | 20.7 | -20.0% |
Q1-2026 | FY-2025 | ∆% | |
Total Assets | 18,374.1 | 17,761.2 | 3.5% |
Net Loans | 3,004.5 | 3,132.3 | -4.1% |
Deposit Liabilities | 13,976.4 | 12,874.0 | 8.6% |
Key Ratios | Q3-2026 | Q3-2025 |
ROAE (post-tax) | 23.8% | 30.7% |
ROAA (post-tax) | 4.5% | 5.9% |
ROAE (pre-tax) | 34.0% | 39.5% |
ROAA (pre-tax) | 6.5% | 7.6% |
Net interest margin | 11.7% | 12.2% |
Cost-to-income ratio | 31.2% | 28.8% |
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Q3-2026 | FY-2025 | |
Net Loans to deposits | 21.5% | 24.3% |
Liquidity ratio | 50.1% | 56.7% |
Capital adequacy ratio | 34.2% | 43.8% |
IFRS 9 Stage 3 Loans | 4.0% | 5.0% |
Cost of risk | 0.9% | 2.2% |
Coverage (with Reg. Risk Reserves) | 130.7% | 106.9% |
Enquiries:
Guaranty Trust Oyinade Adegite Head, Group Corporate Communication |
+234-2012715227 |
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Notes to the Editors:
Guaranty Trust Holding Company Plc is a diversified financial services company with N18.374trillion in assets, providing commercial banking services and non-banking financial services across eleven countries.
The Group operates as one of the leading Nigerian financial services companies offering a wide range of commercial banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom. The Group is rated B- by S&P, a reflection of the Group's stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.
The Group has the following Banking subsidiaries (including sub-subsidiaries) and non-banking subsidiaries within and outside of Nigeria -
1) Guaranty Trust Bank (Nigeria) Limited ("GTB Nigeria"),
2) Guaranty Trust Bank (Gambia) Limited ("GTB Gambia"),
3) Guaranty Trust Bank (Sierra Leone) Limited ("GTB Sierra Leone"),
4) Guaranty Trust Bank (Ghana) Limited ("GTB Ghana"),
5) Guaranty Trust Bank (Liberia) Limited ("GTB Liberia"),
6) Guaranty Trust Bank (United Kingdom) Limited ("GTB UK")
7) Guaranty Trust Bank (Cote D'Ivoire) ("GTB Cote D'Ivoire"),
8) Guaranty Trust Bank (Kenya) Limited ("GTB Kenya"),
9) Guaranty Trust Bank (Rwanda) Plc Limited ("GTB Rwanda"),
10) Guaranty Trust Bank (Uganda) Limited ("GTB Uganda")
11) Guaranty Trust Bank (Tanzania) Limited ("GTB Tanzania")
12) HabariPay (Nigeria) Limited ("HabariPay")
13) Guaranty Fund Managers Limited ("GTFM")
14) Guaranty Pension Managers Limited ("GTPM")
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