Guaranty Trust Holding Company Plc (GTCO) has released its H1 2026 financial results, showcasing a pre-tax profit of N603.03 billion, reflecting a marginal increase of 0.35% from N600.90 billion in H1 2025. Gross earnings rose by 3.25% to N1.11 trillion, driven primarily by stronger interest income.
Despite the positive topline growth, earnings per share fell by 17.73% to N11.18 due to increased operating costs and a decline in non-interest income. The Board has proposed an interim dividend of N1.00 per ordinary share, payable to shareholders on record at the closure date.
Key highlights include a 7.51% rise in interest income to N873.39 billion, although interest expenses surged by 24.24%, limiting the net interest income growth to just 2.75%. Notably, loan impairment charges plummeted by 65.94%, significantly boosting net interest income after impairment.
Operating expenses also increased by 7.31%, driven by higher depreciation and personnel costs, resulting in a 7.76% decline in profit after tax to N414.19 billion. On the balance sheet, total assets grew by 4.81% to N18.62 trillion, with customer deposits rising 11.32% to N13.97 trillion, indicating strong liquidity.
GTCO's share price remained steady at N137.00 as of September 28, 2026, marking a 51.05% gain year-to-date, reflecting positive investor sentiment despite the mixed financial performance.