Guaranty Trust Holding Company Plc (GTCO) has released its audited financial statements for the year ended December 31, 2025, reporting a profit before tax of N1.23 trillion and declaring a final dividend of N12.76 per share, significantly higher than the N8.03 paid in the prior year . The results, filed with the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), demonstrate the Group’s underlying earnings resilience against a backdrop of fiscal policy adjustments and currency stability.
The Group’s profit before tax was underpinned by strong growth in core earnings, with interest income and fee income increasing year-on-year by 23.2 per cent and 25.9 per cent, respectively . However, profit after tax declined by 14.94 per cent to N865.75 billion, compared with N1.02 trillion recorded in 2024 . GTCO noted that this decline reflects the impact of recent fiscal policy adjustments to the taxation of investment securities, notably withholding tax on short-term instruments. When normalised for this effect, underlying earnings remain robust, driven by growth in core operating income .
Total assets grew by 11.2 per cent to close at N17.8 trillion, while shareholders’ funds stood at N3.4 trillion. The Group’s loan book (net) grew by 12.4 per cent from N2.79 trillion in 2024 to N3.13 trillion, while deposit liabilities increased by 23.8 per cent from N10.40 trillion to N12.87 trillion over the same period . Asset quality improved, with IFRS 9 Stage 3 loans closing at 3.4 per cent at the bank level, down from 3.5 per cent, while cost of risk improved to 2.2 per cent from 4.9 per cent in December 2024 .
GTCO’s capital adequacy ratio remained robust at 43.8 per cent, significantly above regulatory requirements. The Group also posted strong efficiency metrics, with a post-tax return on equity of 28.3 per cent, a post-tax return on assets of 5.3 per cent, and a cost-to-income ratio of 27.9 per cent . These ratios rank among the best in the Nigerian financial services industry, underscoring the Group’s operational discipline.
Commenting on the results, Group Chief Executive Officer Segun Agbaje noted that the performance reflects the resilience and depth of the Group’s earnings capacity. “Following a record 2024, which included significant fair value gains, our focus has been on strengthening the sustainability of our earnings by driving growth across our core banking and ecosystem businesses,” he said. “The strength of our underlying earnings, despite a stronger Naira and tighter regulatory parameters, reflects the quality of our franchise and the discipline with which we execute our strategy” .
The record dividend payout of N12.76 per share—a 59 per cent increase from the previous year—signals confidence in the Group’s long-term earnings potential. Agbaje added that the Group remains focused on scaling its ecosystem, driving innovation across its financial services platform, and delivering consistent, high-quality earnings that support superior value creation for shareholders .
The financial results come amid broader discussions on the recapitalisation of the banking sector, with GTCO well-positioned to meet new capital requirements given its robust capital adequacy position. The Group’s diversified business model, spanning banking, payments, pension, and funds management, continues to provide a stable foundation for sustained growth across its markets in Africa and the United Kingdom.
