- Posts N1.27 trillion PBT in 2024 Financial Year
Guaranty Trust Holding Company Plc (“GTCO) has declared a remarkable N8.03 dividend for shareholders whose names appear in the company’s register by the date of its closure, in consideration of the 2024 financial year final dividend.
The record dividend declaration was made by the group, following the release of its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The group’s financial statement reported profit before tax of N1.266trilion, representing an increase of 107.8 percent over N609.3 billion recorded in the corresponding year ended December 2023. This performance reflects not just strong earnings but also the quality and sustainability of our earnings, underpinned by a well-diversified revenue base, robust risk management practice, and disciplined capital management.
The Group recorded growth across all financial and non-financial metrics, and continues to maintain a well-structured, healthy, and diversified balance sheet. The Group’s loan book (net) increased by 12.3% from N2.48trillion in December 2023 to N2.79trillion in December 2024, while deposit liabilities grew by 37.8% from N7.55trillion to N10.40trillion during the same period. Total assets and shareholders’ funds closed at N14.8trillion and 2.7trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 39.3%, likewise, asset quality was sustained as evidenced by IFRS 9 Stage 3 Loans which closed at 3.5% at Bank Level and 5.2% at Group in December 2024 (2023: Bank, 2.5%; Group, 4.2%) and cost of risk (COR) closed at 4.9% from 4.5% in December 2023.
Mr. Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), commenting on the results, said; “Our strong performance for 2024 underscores the resilience and depth of our business, driven by a well-diversified earnings base across our banking and non-banking subsidiaries, all of which are P&L positive. Our capacity to generate sustainable high-quality earnings, maintain strong asset quality, and drive cost efficiencies reflects the soundness of our long-term strategy and disciplined execution.
