Guaranty Trust Holding Company Plc (GTCO) has released its unaudited financial results for the third quarter of 2025, showing a strong rebound in profitability across its banking and non-banking businesses. The Group reported a Profit Before Tax (PBT) of N299.9 billion, representing a 39 per cent increase year-on-year (YoY) from the N216 billion recorded in the same period of 2024.
According to the financial statement filed with both the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), the company’s gross earnings for the three-month period stood at N532 billion, up by 15.5 per cent compared to N461 billion recorded in Q3 2024.
For the nine-month period ending September 30, 2025, GTCO reported a cumulative PBT of N900.8 billion, supported by strong growth in core revenue streams. The report showed that interest income grew by 25.6 per cent, while fee and commission income increased by 16.8 per cent, reflecting improved business activity across all segments.
The management noted that the strong core performance helped cushion the effect of a one-off N523.2 billion fair value gain recorded in Q3 2024, which did not recur in 2025. Despite this non-recurring gain, GTCO maintained solid profitability, supported by better cost management, balance sheet strength, and stable earnings across its subsidiaries.
The Group also reported healthy growth in its asset base, supported by increased lending activities and strong customer deposits. Total assets rose to N16.7 trillion, while shareholders’ funds stood at N3.3 trillion at the end of the third quarter.
The company’s Capital Adequacy Ratio (CAR) remained strong at 36.5 per cent, well above regulatory requirements, reflecting a robust financial position. Asset quality also improved, as Stage 3 Loans (non-performing loans) declined to 3.3 per cent for the Bank and 4.4 per cent for the Group, compared to 3.5 per cent and 5.2 per cent respectively in December 2024.
In addition, the Cost of Risk (CoR) dropped significantly to 2.2 per cent from 4.9 per cent recorded at the end of 2024, highlighting improved credit risk management and loan recovery efforts.
The company’s loan book (net) grew by 16.5 per cent, rising from N2.79 trillion in December 2024 to N3.24 trillion as of September 2025. Similarly, customer deposits expanded by 16 per cent, moving from N10.40 trillion to N12.06 trillion during the same period. This growth demonstrates sustained customer confidence and deeper market penetration across retail and corporate segments.
GTCO also recorded growth across its non-banking business lines, including Payments, Pension, and Funds Management, as it continues to diversify its revenue sources beyond traditional banking.
Speaking on the performance, the Group Chief Executive Officer, Mr. Segun Agbaje, said the results underscore the strength and stability of GTCO’s business model amid changing market conditions. “Our third-quarter performance underscores the consistency and resilience of our business model, as well as the continued strength of our diversified financial services ecosystem,” Agbaje stated.
He added that the Group remains focused on driving innovation and operational efficiency while deepening its presence across all business segments. “We are seeing steady, sustainable growth across our banking and non-banking businesses, supported by disciplined execution and a strong focus on operational efficiency,” he said.
Analysts note that GTCO’s Q3 2025 results confirm the company’s ability to sustain growth despite macroeconomic challenges such as inflationary pressure, foreign exchange volatility, and rising operating costs. The improved performance also reflects better asset quality and reduced exposure to high-risk loans.
Industry observers expect the company to close the year with a stronger full-year performance, especially as its digital banking and payment subsidiaries continue to expand across Nigeria and other African markets.
GTCO, which operates in Nigeria, Ghana, Kenya, Cote d’Ivoire, Uganda, and the United Kingdom, remains one of the leading financial institutions in West Africa, known for its customer-centric innovation and strong governance framework. The Group’s ongoing digital transformation and strategic diversification are expected to further boost revenue and profitability in subsequent quarters.
