GTCO Reports N603 Billion Pre-Tax Profit for H1 2026
Guaranty Trust Holding Company Plc (GTCO) announced its H1 2026 financial results, revealing a pre-tax profit of N603.03 billion, marking a marginal increase of 0.35% from N600.90 billion in H1 2025. Gross earnings rose by 3.25% to N1.11 trillion, primarily driven by a 7.51% increase in interest income, which reached N873.39 billion.
However, earnings per share fell by 17.73% to N11.18. The Board proposed an interim dividend of N1.00 per ordinary share.
While loan impairment charges significantly decreased by 65.94% to N18.72 billion, total operating expenses increased by 7.31% to N277.39 billion, impacting profit growth. Consequently, profit after tax declined by 7.76% to N414.19 billion, largely due to a 24.33% rise in income tax expense to N188.85 billion.
Total assets grew by 4.81% to N18.62 trillion, supported by an 11.32% increase in customer deposits to N13.97 trillion.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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