Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated
and Separate Financial Statements for the period ended September 30, 2022, to the Nigerian Exchange
Group (NGX) and London Stock Exchange (LSE).
The Group reported profit before tax of ₦169.7billion, representing an increase of 11.7% over
₦151.9billion recorded in the corresponding period ended September 2021. The Group’s loan book (net)
increased by 2.2% from ₦1.80trillion recorded as at December 2021 to ₦1.84trillion in September 2022,
while deposit liabilities increased by 6.4% from ₦4.13trillion in December 2021 to ₦4.39trillion in
September 2022
The Group’s balance sheet remained well structured and resilient with total assets and shareholders’
funds closing at ₦5.81trillion and ₦872.8billion, respectively. Strong Capital Ratios and Asset Quality were
sustained as CAR, NPL ratio, and Cost of Risk (COR) closed at 20.7%, 5.6%, and 0.2% in September
2022 from 23.8%, 6.0%, and 0.5% in December 2021, respectively.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc
(GTCO Plc), Mr. Segun Agbaje, said; “The Group’s 3rd quarter result reaffirms our strategy for long-term
growth and underscores our capacity to deliver sustainable strong performance despite the volatilities in
our operating environment. We have also kept in focus our vision of supporting small and medium
enterprises specifically through our free business platforms to help them stay in business and expand
their offerings. With our non-banking businesses fully operational alongside our core banking subsidiary,
we are well positioned to maximise our earnings potential going into the 4th quarter of the year.”
He further stated; “In creating a thriving financial services ecosystem, our goal is to offer great
experiences to all who interact with our brand whilst continually enhancing access to innovative financial
solutions for individuals and businesses across Africa. We are appreciative of all our customers and other
stakeholders who are with us on this journey of building a truly global African financial services institution.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in
terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 25.8%, Pre-Tax Return on Assets
(ROAA) of 4.0%, Full Impact Capital Adequacy Ratio (CAR) of 20.7% and Cost to Income ratio of 45.1%.
GTCO Plc is a fully-fledged financial services group with banking operations across West and East Africa
and the United Kingdom as well as non-banking businesses in several key industry segments including
payment, funds management, and pension fund management. With ₦5.8trillion in assets and over 28
million customers, the Group remains one of the most profitable and best-managed financial services
companies out of Nigeria providing commercial banking services and non-banking financial services
across eleven countries. Its leadership in the banking industry and efforts at empowering people and
communities have earned it many prestigious awards over the years including Best Banking Group in
Nigeria and Most Innovative Bank in Nigeria at the 2022 World Finance Banking Awards. It also retained
its position as Africa’s Most Admired Financial Services Brand in the 2022 ranking of The Brand Africa
100: Africa's Best Brands.