Guaranty Trust Holding Company Plc (GTCO) has reported a profit before tax of N879.9 billion for the nine months ended Sept. 30.
The figure represents a 2.3 per cent decline from N900.8 billion recorded in the corresponding period of 2025.
The group disclosed this in its unaudited consolidated and separate financial statements released to the Nigerian Exchange Ltd. (NGX) on Wednesday.
GTCO attributed the performance to sustained growth in core earnings, with interest income, fees and commission income, and trading income rising by 5.0 per cent, 1.4 per cent, and 3.1 per cent, respectively.
It, however, recorded a fair value loss of N87.9 billion during the period.
The group’s total assets increased by 3.5 per cent to N18.37 trillion in September, from N17.76 trillion in December 2025.
Shareholders’ funds stood at N3.5 trillion, while its capital adequacy ratio remained strong at 34.2 per cent.
At the banking level, the CAR stood at 33.9 per cent.
The financial statements also showed an improvement in asset quality, with the group’s IFRS 9 Stage 3 loans declining to 4.0 per cent from 5.0 per cent at the end of 2025.
At the bank level, the ratio remained unchanged at 3.4 per cent.
The group’s cost of risk also improved to 0.9 per cent from 2.2 per cent, while coverage for credit-impaired loans rose to 130.7 per cent from 106.9 per cent.
GTCO’s deposit liabilities increased by 8.6 per cent to N13.98 trillion from N12.87 trillion in December 2025.
The net loan book, however, declined by 4.1 per cent to N3 trillion, reflecting the group’s approach to risk asset creation.
The group said funded income accounted for 77.8 per cent of gross earnings, while net core earnings grew by 4.4 per cent to N1.505 trillion.
Profit after tax stood at N614.6 billion, compared with N699.6 billion in the corresponding period of 2025.
It attributed the decline partly to changes in Companies Income Tax regulations, which affected capital allowance reliefs.
Commenting on the results, Mr Segun Agbaje, Group Chief Executive Officer of GTCO, said, “Our performance in the Q3 reflects the strength of a franchise built on scale, efficiency and discipline.
“In spite of a challenging operating environment and significant fair value losses in the period, our core earnings continued to grow.
“Our deposit base expanded strongly, our cost efficiency remains among the best in the industry, and our balance sheet remains strong, liquid and well capitalised.
“Looking ahead, we will always optimise risk-free returns wherever we see them and will always be positioned to take advantage of arbitrage opportunities as market conditions evolve, without compromising the quality of our risk assets.
“We will also continue to evolve our platforms and adapt to new technologies to meet the changing needs of our customers, as we remain focused on delivering sustainable value and superior returns to our shareholders.”
Agbaje noted that the group remained focused on delivering sustainable value and superior returns to shareholders.
GTCO reported a pre-tax return on average equity of 34.0 per cent, pre-tax return on average assets of 6.5 per cent, and a cost-to-income ratio of 31.2 per cent.
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