GTCO Reports NGN 300.4 Billion Pre-Tax Profit in Q1 2025 as Core Banking Strengthens in Nigeria

Guaranty Trust Holding Company reported pre-tax profit of NGN 300.4 billion for the first quarter of 2025, a 41 per cent decline from the NGN 509.3 billion recorded in the same period a year earlier. The headline fall is principally a function of base effects: the first quarter of 2024 included an exceptional fair value gain of NGN 331.6 billion on financial assets that did not recur in 2025.

Profit after tax for the quarter came in at NGN 258 billion, a decline of 44 per cent year-on-year on the same basis, while total revenue reached NGN 523.2 billion.

INCOME, EFFICIENCY AND RETURNS

Net interest income rose 40.1 per cent year-on-year to NGN 318.4 billion, while the loan book expanded 15.6 per cent from the end of December 2024 to N3.22 trillion. Fee income grew 41.2 per cent.

GTCO's cost-to-income ratio was 29.0 per cent.

The group's pre-tax return on average equity reached 42.2 per cent for the quarter, while pre-tax return on average assets was 7.8 per cent.

CAPITAL

GTCO reported a full-impact capital adequacy ratio of 34.6 per cent.