Nigeria’s GTCO posts $625 million profit in 2025; customer deposits reach $9 billion

Nigerian financial services provider Guaranty Trust Holding Company Plc (GTCO), led by veteran banker Segun Agbaje, posted a mixed performance for its 2025 fiscal year, with gross earnings rising slightly but profit after tax declining to $625 million. The results reflected higher operating costs and a notable loss on financial instruments compared with the previous year.

GTCO’s annual report for the year ended Dec. 31, 2025, showed profit falling to N865.75 billion ($625.6 million) from N1.017 trillion ($734.9 million) in 2024. Earnings per share declined to N25.43 ($0.018) from N35.44 ($0.025), pressured by an N81.8 billion ($59.11 million) loss on financial instruments, compared with a gain of N517.5 billion ($374 million) in 2024.

GTCO’s gross earnings rise; customer deposits hit $9.06 billion

The group’s gross earnings edged higher, rising from N2.14 trillion ($1.54 billion) to N2.15 trillion ($1.55 billion). The increase was supported by higher net interest income, which grew from N1.06 trillion ($766.02 million) to N1.26 trillion ($910.55 million), while net fee income climbed to N244.4 billion ($176.6 million) from N189.7 billion ($137.1 million).

GTCO also strengthened its liquidity and lending during the year. Cash balances rose to N5.46 trillion ($3.94 billion) from N4.67 trillion ($3.37 billion), customer deposits increased to N12.55 trillion ($9.06 billion) from N10.01 trillion ($7.23 billion), and loans and advances to customers expanded to N3.13 trillion ($2.26 billion) from N2.78 trillion ($2 billion).

Total assets hit $12.83 billion

Headquartered in Lagos, GTCO has grown into a multinational institution with subsidiaries across West and East Africa and in the United Kingdom.

The bank employs more than 12,000 staff and serves individuals, businesses, and public institutions with a wide range of financial products. Agbaje holds a 0.114 percent stake in the group, representing 41.6 million shares.

Total assets rose to N17.76 trillion ($12.83 billion) from N14.8 trillion ($10.7 billion), while shareholders’ equity increased to N3.41 trillion ($2.46 billion) from N2.71 trillion ($1.95 billion). Retained earnings also grew to N1.72 trillion ($1.24 billion) from N1.32 trillion ($954 million). 

Reflecting its stable capital position, the board recommended a final dividend of N11.76 ($0.0085) per share, totaling N429.83 billion ($310.7 million), bringing the full-year dividend to N12.76 ($0.092) per share or N466.38 billion ($337.1 million).