Guaranty Trust Holding Company Plc (GTCO) has announced impressive financial results for the year ending December 31, 2024, showcasing a profit before tax of ₦1.266 trillion. This marks a remarkable increase of 107.8% from ₦609.3 billion recorded the previous year, highlighting the Group’s robust earnings and diverse revenue streams.
In delivering these results, GTCO maintained a disciplined approach to capital management and risk, evidenced by a growth in their net loan book, which rose by 12.3% to ₦2.79 trillion. Meanwhile, deposit liabilities surged by 37.8%, reaching ₦10.40 trillion. The Group’s total assets and shareholders’ funds also showed healthy growth, closing at ₦14.8 trillion and ₦2.7 trillion, respectively.
Group CEO Mr. Segun Agbaje emphasized the strength and resilience of the Group’s performance, attributing it to their diversified earnings across banking and non-banking subsidiaries. GTCO’s commitment to financial health is further illustrated by their capital adequacy ratio of 39.3% and a cost of risk of 4.9%.
In an encouraging move for shareholders, GTCO announced a record dividend payout of ₦8.03, reflecting the quality of their earnings and their long-standing tradition of increasing payouts annually. Agbaje expressed confidence in the Group’s future, focusing on innovation and operational efficiency to drive sustainable growth across all business sectors.
GTCO Plc continues to be a leader in the Nigerian financial services industry, renowned for its strong governance and customer-centric approach. The Group’s performance metrics, including a Pre-Tax Return on Equity of 60.5% and a Cost to Income ratio of 24.1%, affirm its commitment to delivering long-term value and growth across its markets.