Guaranty Trust Holding Company Plc, also known as GTCO, recently shared its financial statements with the Nigerian Exchange Group and London Stock Exchange.
The company reported a profit before tax of ₦900.8 billion, mainly due to the growth in interest income and fee income. This growth helped offset a decrease in profit compared to the previous year.
The company also saw growth in its assets and maintained a strong balance sheet across its banking, payments, pension, and funds management businesses.
The total assets and shareholders’ funds of the Group were ₦16.7 trillion and ₦3.3 trillion, respectively. The Capital Adequacy Ratio (CAR) was 36.5%, showing the company’s financial strength. The asset quality improved, and the cost of risk decreased. The loan book and deposit liabilities also saw significant growth during the period.
The Group’s CEO, Mr. Segun Agbaje, highlighted the company’s consistent performance, resilience, and focus on operational efficiency. He emphasized the importance of innovation, operational excellence, and customer satisfaction for future growth. The company continues to achieve strong financial ratios in the industry.
Overall, Guaranty Trust Holding Company Plc is a prominent financial services group operating in Africa and the UK. Known for its corporate governance, financial solutions, and customer-centric approach, the company offers a wide range of banking and non-banking services. GTCO is dedicated to creating long-term value for stakeholders and driving growth in its markets.
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