Guaranty Trust Holding Company Plc (GTCO) has launched its audited outcomes for the half 12 months ended June 30, 2025, reporting a pre-tax revenue of N601 billion, a decline from N1 trillion recorded in H1 2024.
Revenue after tax stood at N449.01 billion, in comparison with N905.57 billion within the corresponding interval of 2024.
Regardless of the drop in earnings, the Board has authorized an interim dividend of N1.00 per share, sustaining the payout declared in H1 2024.
The dividend will probably be paid to shareholders whose names seem within the Register of Members as of October 7, 2025.
Cursory evaluation of the outcomes;
Regardless of the decline, gross earnings are nonetheless above the N1 trillion mark, highlighting resilience.
The highest-line efficiency was supported by curiosity revenue, which grew by 71% year-on-year to N812.36 billion, with its contribution to gross earnings rising sharply to 76% in H1 2025, from 44% in H1 2024.
A overview of the earnings reveals that:
- Curiosity revenue from investments in securities accounted for over 35% of gross earnings, surpassing the 27% contribution from loans and advances.
Whereas curiosity revenue from loans and advances grew by 22% year-on-year to N299.63 billion, revenue from investments in securities expanded sooner, rising over 44% to N375 billion in H1 2025.
This shift issues as a result of it reveals GTCO most likely relied extra on fixed-income securities for earnings somewhat than conventional mortgage development.
Notably, curiosity revenue earned outdoors Nigeria contributed N256 billion to complete curiosity revenue.
From the core expense line, curiosity bills grew by 43% year-on-year to N154 billion, outpacing the expansion in curiosity revenue.
Nevertheless, it accounted for under 18% of complete curiosity revenue, indicating a comparatively wholesome unfold.
As anticipated, the majority of this value got here from curiosity paid on customer deposits, which rose by 44% to N147 billion in H1 2025.
Consequently, web curiosity revenue stood at a formidable N632.24 billion in H1 2025, representing a 29% year-on-year development.
Impairment costs on loans and advances rose barely to N54.97 billion in H1 2025, in comparison with N47.41 billion in H1 2024.
This was primarily pushed by greater provisions underneath Stage 2 (loans displaying indicators of elevated threat however not but in default), which got here to N58.89 billion, partly offset by a small write-back of N4.27 billion underneath Stage 3 (credit-impaired loans).
Thanks to those comparatively modest impairment costs, web curiosity revenue after provisions nonetheless stood robust at N577.67 billion, up practically 30% year-on-year.
Key highlights: H1 2025 vs. H1 2024:
- Gross earnings: N1.073 trillion; -22.97% YoY
- Curiosity Earnings: N812.360 billion +31.47% YoY
- Curiosity Expense; N180.122 billion +42.53% YoY
- Web curiosity revenue; N632.238 billion +28.63% YoY
- Impairment: N54.971 billion +15.99% YoY
- Web curiosity revenue after impairment: N577.267 billion +29.98% YoY
- Charge and fee revenue: N151.461 billion +32.95% YoY.
- Earnings per share N13.59 -57.69% YoY
- Loans and advances to clients N3.358 trillion +20.54%.
- Money and Money equivalents N4.786 trillion +2.42%
- Whole Property N16.692 trillion +12.82%.
- Prospects’ deposits: N11.878 trillion +18.62%.
Non-interest revenue:
It additionally earned cash from different sources, akin to charges and fee revenue, pushed by:
- Digital banking revenue: N28.614 billion: -11.97%
- Fee on contact factors: N24.782 billion: 616.84%
- Account upkeep charges: N17.580 billion: +12.41%
Stability sheet evaluation
GTCO’s stability sheet continued to be pushed by its deposit base, that means many of the cash it makes use of comes from deposits.
Buyer deposits grew by 19% to N18.878 trillion ,accounting for 71% of the banks’ complete belongings of N16.692 trillion
Market efficiency
As of the shut of buying and selling on September 22, 2025, the shares had been priced at N90 per share, reflecting a YtD acquire of 63.2%.
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