Guaranty Trust Holding Company Plc (GTCO), a Nigerian financial services company, has released its unaudited consolidated and separate financial statements for the period ended March 31, 2024. The results, disclosed to the Nigerian Exchange Group and London Stock Exchange, show a notable increase in profit before tax to 509.3 billion naira ($365.2 million), reflecting a significant surge compared to the corresponding period in 2023. The Group’s loan book (net) and deposit liabilities also saw substantial growth, reaching $2.1 billion and $7 billion, respectively.
With total assets and shareholders’ funds closing at $9.3 billion and $1.4 billion, respectively, the company maintains strong metrics, including a full impact capital adequacy ratio of 24.9 percent and sustained asset quality.