KEY POINTS
- GTCO profit slumps 50 percent to N449 billion H1 2025.
- Drop in GTBank dividends drives earnings decline.
- Group assets rise to $11.2 billion despite profit slide.
Guaranty Trust Holding Company Plc (GTCO), led by Nigerian banker Segun Agbaje, posted a steep profit decline in the first half of 2025 as dividend income from its flagship banking unit dried up.
Profit fell more than 50 percent to N449 billion ($301.4 million) in the six months to June 30, down from N905.7 billion ($608 million) a year earlier, the Lagos-based group said in a filing. Dividend income from Guaranty Trust Bank tumbled to N70.9 billion ($47.6 million) from N630.2 billion ($422.9 million), accounting for most of the slide.
Core banking income shows resilience
The slump in dividends offset gains from GTCO’s operating businesses. Net interest income rose 29 percent to N632.2 billion ($424.3 million), while fee and commission income jumped 33 percent to N151.5 billion ($101.4 million). The group also booked a net impairment reversal of N38.1 billion ($25.5 million), compared with a charge of N357.5 million ($0.24 million) last year.
GTBank strengthens capital to meet CBN rules
GTBank bolstered its capital base with a $238.5 million injection, raising paid-up capital to $328.5 million and ensuring compliance with the Central Bank of Nigeria’s N500 billion minimum for lenders with international licenses. The bank remains wholly owned by GTCO, with no director holding a personal stake.
Assets grow despite GTCO profit decline 2025
GTCO’s total assets expanded to N16.7 trillion ($11.2 billion) from N14.8 trillion ($9.94 billion), while shareholders’ equity climbed to N2.99 trillion ($2 billion). Retained earnings grew to N1.44 trillion ($967 million). The board declared an interim dividend of N1 ($0.00067) per share, unchanged from the prior year.
