GTCO Reports N879.9bn Profit Before Tax in Nine Months.
The N879.9 billion PBT was driven by sustained growth across its core earnings lines, with interest income, fees and commission income and trading income growing year-on-year by five per cent, 1.4per cent and 3.1per cent respectively.
This resilient performance was delivered despite a N87.9 billion fair value loss recognised in the period, with PBT moderating slightly by 2.3per cent from N900.8 billion in Q3 2025.
The Group’s Total Assets grew by 3.5per cent to N18.37 trillion from N17.76 trillion December 2025, while Shareholders’ funds closed at N3.5 trillion.
Capital Adequacy Ratio (CAR) remained very strong at 34.2per cent (Bank: 33.9per cent), and asset quality improved, with IFRS 9 Stage 3 Loans closing at four per cent at Group level (FY 2025: five per cent) and 3.4per cent at Bank level (FY 2025: 3.4per cent). Cost of Risk (COR) also improved to 0.9per cent from 2.2per cent over the same period, while coverage for credit-impaired loans closed at 130.7per cent (FY 2025: 106.9per cent). Deposit liabilities grew by 8.6per cent from N2.87 trillion in December 2025 to N13.98 trillion in September 2026, reflecting the continued strength of the Group’s deposit franchise, while the net loan book moderated by 4.1per cent to N3.00 trillion, in line with the Group’s disciplined approach to risk asset creation. Earnings quality also improved, with funded income rising to 77.8per cent of gross earnings and net core earnings growing by 4.4per cent to N1.505 trillion, while Profit After Tax closed at N614.6 billion (Q3 2025: N699.6 billion), reflecting changes to Companies Income Tax regulation which affected capital allowance reliefs.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with THISDAY.