GTBank Reports ₦414.19 Billion Profit Decline in 2026

Guaranty Trust Holding Company Plc (GTCO) disclosed its half-year results for the period ending June 30, 2026, revealing a profit after tax of ₦414.19 billion, marking a 7.76% decrease from ₦449.01 billion in the same period of 2025. Despite a growing Nigerian economy and increasing banking sector assets, GTCO's profits contracted.

Profit before tax saw a slight increase of 0.35% to ₦603.03 billion, largely due to a 65.94% reduction in loan impairment charges. However, net fee income fell by 8.98%, and other income decreased from ₦70.92 billion to ₦44.35 billion.

Operating expenses rose by 7.31%, with depreciation and amortization increasing by 41.82%. Income tax expenditures surged by 24.33% to ₦188.85 billion, negatively impacting pre-tax margins.

Customer loans grew minimally by 0.48%, and total equity decreased by 2.82%. The bank's stagnant performance stands in stark contrast to competitors like Zenith Bank, where Dame Adaora Umeoji reported a profit after tax of ₦314.02 billion for Q1 2026, reflecting effective leadership.