Guaranty Trust Holding Company Plc (GTCO) has reported a profit after tax of ₦449.01 billion for the half year (H1) ended June 30, 2025, representing a sharp decline from ₦905.57 billion recorded in the corresponding period of 2024.
The results, released in the Group’s Consolidated and Separate Income Statements, show that profit attributable to equity holders of the parent stood at ₦441.29 billion, while non-controlling interests accounted for ₦7.72 billion. This contrasts with H1 2024 when equity holders earned ₦899.89 billion.
GTCO’s net interest income rose to ₦632.24 billion in H1 2025, up from ₦491.51 billion in the same period last year, despite higher loan impairment charges of ₦54.97 billion compared to ₦47.40 billion in 2024. Fee and commission income also grew to ₦151.46 billion, up from ₦113.92 billion.
The Group reported ₦37.92 billion in net trading gains, while other income came in significantly lower at ₦70.92 billion, compared to a one-off boost of ₦630.27 billion in H1 2024.
Operating expenses increased across the board, with personnel costs rising to ₦54.40 billion from ₦41.50 billion, depreciation and amortisation at ₦38.29 billion from ₦27.52 billion, and other operating expenses climbing to ₦165.80 billion from ₦132.78 billion.
Profit before tax stood at ₦600.90 billion, down from ₦1.00 trillion recorded a year earlier. After accounting for an income tax expense of ₦151.89 billion, profit for the period closed at ₦449.01 billion.
Earnings per share fell to ₦13.59 from ₦32.12 in H1 2024, reflecting the weaker bottom line.
On comprehensive income, GTCO posted ₦540.35 billion for the Group, against ₦1.00 trillion in H1 2024. Equity holders accounted for ₦526.17 billion, while non-controlling interests contributed ₦14.18 billion.
The decline highlights the absence of extraordinary income that boosted last year’s results, higher operating costs, and increased impairment provisions despite stronger interest and fee income growth.