GTCO Sustains Profitability in Q1 2025 with N300.4 Billion Pre-Tax Profit, Solid Core Income Growth
Lagos, Nigeria – April 2025
Guaranty Trust Holding Company Plc (GTCO) has announced a robust start to the 2025 financial year, posting a profit before tax of ₦300.4 billion in its unaudited financial results for the first quarter ended March 31, 2025.
Despite the absence of the ₦331.6 billion fair value gains recorded in Q1 2024, GTCO delivered strong earnings powered by solid growth in core income lines. Interest income rose by 41.1% year-on-year, while fee and commission income climbed by 41.2%, underscoring the group’s resilience and strategic focus.
The Group's loan book grew by 15.6% from ₦2.79 trillion in December 2024 to ₦3.22 trillion in March 2025. Deposit liabilities also saw a healthy increase of 7.7%, rising from ₦10.4 trillion to ₦11.2 trillion within the same period. GTCO’s balance sheet remained solid, with total assets closing at ₦15.9 trillion and shareholders' funds at ₦3.0 trillion.
In terms of asset quality, GTCO continued to record improvements. IFRS 9 Stage 3 Loans declined to 3.3% at the Bank level and 4.5% at the Group level, compared to 3.5% and 5.2%, respectively, in December 2024. Cost of Risk (COR) also dropped significantly to 0.4%, from 4.9% previously.
Commenting on the performance, Mr. Segun Agbaje, Group Chief Executive Officer of GTCO, said:
“Our Q1 2025 results highlight the strength and stability of our diversified business model. Even without the one-off fair value gains seen last year, we delivered solid growth across key income lines, backed by a healthy balance sheet and a growing customer base.”
Agbaje added that the Group is well on track to match or surpass its 2024 full-year pre-tax profit, noting that GTCO remains focused on executing its strategic priorities with discipline and optimism for the year ahead.
GTCO continues to lead in the Nigerian financial services industry with some of the strongest performance metrics. These include a Pre-Tax Return on Equity (ROAE) of 42.2%, Pre-Tax Return on Assets (ROAA) of 7.8%, a Full Impact Capital Adequacy Ratio (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 spanning across Africa and the United Kingdom. The Group offers a wide range of banking and non-banking services, including payments, asset management, and pension fund administration, and remains committed to long-term value creation and inclusive economic growth.
—Corporate Communications
