Guaranty Trust Holding Company Plc (GTCO) has launched its unaudited Q3 2025 outcomes, reporting pretax revenue of N299.9 billion, up 39% year-on-year.
Based on the report, gross earnings for the three-month interval stood at N532 billion, up 15.5% YoY from N461 billion in Q3 2024.
This robust quarter lifted the nine-month pre-tax revenue to N900.8 billion down 26% year-on-year, reflecting the excessive base from 2024, which was buoyed by outsized FX features that haven’t recurred this yr.
Key highlights (Q3 2025 vs. Q3 2024)
- Internet Curiosity Revenue: N319.9 billion (+10.3% YoY)
- Non-Curiosity Income (Price, Buying and selling & Different Revenue): N102.3 billion (+292% YoY)
- Working Revenue (Pre-Impairment): N408.6 billion (+28.6% YoY)
- Submit-Tax Revenue: N250.6 billion (+39.7% YoY)
- Earnings Per Share (EPS): N7.54 per share (+17.6%)
- Whole Property: N16.66 trillion (+13.4%)
- Buyer Deposits: N11.85 trillion (+18.3%)
- Buyer Loans & Advances: N3.24 trillion (+16.5%)
- Shareholders’ Funds: N3.37 trillion (+24.1%)
The drivers
GTCO’s robust third-quarter efficiency was underpinned by the expansion in core banking operations, and a turnaround in non-interest earnings
- The Group’s curiosity earnings rose by 15.5% year-on-year to N418.5 billion in Q3 2025. This was pushed by an growth within the Group’s mortgage e book.
Nonetheless, this was partly offset by a pointy enhance in curiosity expense, which climbed to N98.6 billion, up 36% from N72.5 billion in Q3 2024.
The rise in funding prices mirrors the broader development of elevated deposit pricing and costlier wholesale funding throughout the Nigerian banking sector.
Even with the rise in funding prices, internet curiosity earnings nonetheless grew to N319.9 billion, up 10.3% year-on-year, and moved the nine-month internet curiosity earnings to N952.140 billion up 21% YoY
When it comes to credit score high quality, the Group recorded an 8.3% discount in mortgage impairment costs, which fell to N14.8 billion from N16.2 billion in Q3 2024, taking the 9-month impairment cost to N69.791 billion, up 9.81% YoY.
After accounting for mortgage impairment costs, internet curiosity earnings after impairment got here in at N305.1 billion, reflecting an 11.4% enhance in comparison with Q3 2024, and taking the nine-month internet curiosity earnings after impairment to N882.3 billion, up 23% year-on-year.
Non-interest income additionally supported earnings.
- Buying and selling earnings rose to N39.3 billion from N29.8 billion, indicating improved international alternate positioning and treasury efficiency.
- Extra notably, different earnings rebounded strongly, swinging from a lack of N52.9 billion in Q3 2024 to a achieve of N14.9 billion this quarter.
Steadiness sheet insights
GTCO’s stability sheet continued to point out robust development momentum.
Whole belongings rose to N16.66 trillion, up 13.4%, pushed primarily by an growth within the mortgage e book and a rise in funding securities.
- Buyer loans and advances grew by 16.5% to N3.24 trillion.
- Whole funding securities stood at N4.91 trillion, up 25%, supported by increased holdings in each amortized price and honest worth via OCI devices
GTCO’s bigger place in funding securities relative to loans suggests a strategic shift towards security, liquidity, and yield optimization,
Whereas not inherently detrimental, it does increase questions on credit score urge for food, mortgage demand, and the way GTCO plans to stability development with danger within the quarters forward.
On the funding aspect, customer deposits surged to N11.85 trillion, marking an 18.3% enhance from year-end 2024.
- Importantly, shareholders’ funds elevated to N3.37 trillion, representing a 24.1% year-to-date development.
This was boosted by retained earnings, which rose by 26.2% to N1.67 trillion, and by a big capital injection mirrored within the share premium account, which jumped by 48.6% to N489.4 billion. Share capital additionally elevated to N18.21 billion, up 6.7% from the beginning of the yr.
General, the bank reported a decline in revenue for the primary 9 months of 2025, with internet revenue falling to N699.64 billion, in comparison with N1.085 trillion in the identical interval final yr.
The drop largely displays the absence of remarkable international alternate features that had considerably boosted earnings in 2024.
For context, GTCO closed the total yr 2024 with a revenue of N1.07 trillion, which means its present run price, although supported by robust core earnings, alerts a extra average revenue trajectory in 2025, anchored on conventional banking earnings somewhat than one-off revaluation windfalls.
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