By Stanley Onyeka, Lagos
Dual-listed Guaranty Trust Holding Company Plc (GTCO), yesterday, announced a profit before tax of N300.4billion in the first quarter (Q1) of 2025 on the back of strong performance.
The HolsCo in its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2025, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE) on Wednesday, also posted strong core earnings lines of interest income which grew year-on-year (y-o-y) by 41.1%, and fee income up by 41.2%.
GTCO explained that the strong performance enabled it to counter the impact of the N331.6billion fair value gains recognised in Q12024, which did not recur in Q12025.
Additionally, it noted that its loan book (net) increased by 15.6% from N2.79 trillion recorded as of December 2024 to N3.22 trillion in March 2025, while deposit liabilities grew by 7.7% from N10.40 trillion to N11.20 trillion during the same period.
Our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings.
Other highlights:
- Total assets and shareholders’ funds closed at N15.9 trillion and N3.0trillion, respectively;
- Full Impact Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 34.6%,
- Asset quality improved on IFRS 9 Stage 3 Loans to close at 3.3% at Bank Level and 4.5% at Group level;
- Cost of Risk (COR) closed at 0.4% from 4.9% in December 2024.
Commenting on the results, GTCO’s Group Chief Executive Officer (GCEO), Segun Agbaje, said: “Our Q1 2025 performance reflects the strength of all our business verticals and our capacity to generate strong and sustainable earnings.
“While the fair value gains of N331.6 billion reported in Q1 2024 did not recur this quarter, the Group recorded solid growth across most income lines, underpinned by a diversified revenue base and a healthy, well-structured balance sheet.
“We remain optimistic about the year ahead. The fundamentals of our business are strong, our customer base continues to grow, and we are executing with discipline across our strategic priorities.
“Importantly, at this pace, the Group is well-positioned to deliver the full year PBT of 2024 at the very minimum by the end of the 2025 FYE.”
