Q1 2026: GTCO reports ₦485.2bn PBT

Guaranty Trust Holding Company PLC (GTCO) has reported a Profit Before Tax (PBT) of ₦485.2 billion for the first quarter of 2026.

The unaudited financial statements for the first quarter ended March 31, 2026 demonstrated a robust balance sheet and sustained profitability despite a challenging macroeconomic environment.

This is as the financial giant also reported a notable surge in its total assets, which grew by approximately 4% in the first three months of the year to reach ₦18.5 trillion up from ₦17.8 trillion at the end of December 2025.

This growth was largely driven by a strategic expansion in the group’s loan book and an increase in investment securities.

While the group faced higher interest expenses due to the prevailing high-interest-rate regime, its interest income saw a significant year-on-year jump of 32%, supported by optimal asset pricing.

The Group’s gross earnings for the period also hit ₦645.8 billion, a substantial increase compared to the corresponding period in 2025.

This performance was bolstered by the non-banking subsidiaries including the Payments (HabariPay), Pension and Fund Management businesses which contributed significantly to the diversified revenue stream.

Despite inflationary pressures driving up operating expenses (OPEX), GTCO managed to keep its Cost-to-Income Ratio within a competitive range of 28.4%.

The Bank’s management attributed this efficiency to its continued investment in digital transformation, which has lowered the cost of service delivery across its African and UK operations.

The Group’s asset quality also remained stable, with the Non-Performing Loan (NPL) ratio closing at 3.2%, well below the regulatory threshold of 5%. This reflects the bank’s cautious approach to lending and a strong risk management framework in a volatile credit environment.

Commenting on the results, Group Chief Executive Officer Segun Agbaje noted that the Q1 2026 performance reinforces the group’s ability to navigate complex market dynamics while delivering value.

He emphasized that the group remains focused on scaling its digital ecosystem and deepening its presence in the payments and wealth management space.

The market has reacted positively to the results, with GTCO’s share price experiencing a moderate uptick on the Nigerian Exchange (NGX) following the announcement. Investors remain optimistic about the bank’s full-year outlook as it continues its capital raising and expansion initiatives.