Guaranty Trust Holding Company Plc (GTCO) net loan book grew by 15.6 per cent, rising from ₦2.79 trillion as of December 2024 to ₦3.22 trillion in March 2025.
Customer deposit liabilities also increased by 7.7 per cent, reaching ₦11.20 trillion from ₦10.40 trillion, driven by sustained customer confidence and improved deposit mobilisation across various business segments.
This performance shows it sustained its growth momentum in the first quarter of 2025, reporting strong earnings and robust balance sheet expansion despite the absence of one-off fair value gains recorded in the same period last year.
GTCO’s total assets climbed to ₦15.9 trillion, while shareholders’ funds closed the quarter at ₦3.0 trillion. The Group described its balance sheet as well-diversified, resilient, and supported by prudent risk management practices.
Although the Group did not replicate the ₦331.6 billion fair value gains recorded in Q1 2024, it still delivered a solid profit before tax of ₦300.4 billion in Q1 2025, a performance underpinned by a 41.1 per cent year-on-year increase in interest income and a 41.2% rise in fee and commission income.
GTCO continues to rank among the most profitable institutions in Nigeria’s financial sector, posting a pre-tax return on equity (ROAE) of 42.2 per cent and a pre-tax return on assets (ROAA) of 7.8 per cent during the period under review.
Asset quality also saw notable improvement. Stage 3 (non-performing) loans declined to 3.3 per cent at the Bank level from 3.5 per cent at year-end 2024, while Group-level Stage 3 loans dropped to 4.5 per cent from 5.2 per cent. The Group’s cost of risk (COR) significantly decreased to 0.4 per cent, compared to 4.9 per cent in December 2024, reflecting improved loan recoveries and enhanced credit risk management.
GTCO also maintained a strong capital buffer, with a Full Impact Capital Adequacy Ratio (CAR) of 34.6 per cent as of March 2025—well above regulatory thresholds and providing headroom for future expansion and risk absorption.
Commenting on the results, Group CEO 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 ₦331.6 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. At this pace, the Group is well-positioned to deliver the full year profit before tax of 2024 at the very minimum by the end of 2025.”
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