• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Equities Company Results

GTCO Plc reports Profit Before Tax of N214.2 billion, FY dividend of N3.10

Chris Ugwu by Chris Ugwu
April 15, 2023
in Company Results, Dividends, Markets
GTCO Plc slows down on lending in Ghana after losing billions in country’s debt crisis
Share on FacebookShare on TwitterShare on Linkedin

Key Highlights

  • GTCO reported a profit before tax of N214.2 billion, representing a 3.3% dip from N221.5 billion posted in the corresponding year ended December 2021.
  • The Group reported a net interest income of 30 billion for the year 2022 as against N220.61 billion posted in 2021 representing a growth of 17.54%
  • The Directors recommend the payment of a final dividend of N2.80k per ordinary share of 50 Kobo, bringing the total dividend for the financial year ended December 31, 2022, to N3.10k.

Guaranty Trust Holding Company Plc has released its audited consolidated and separate financial Statements for the year ended December 31, 2022, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

The Group reported profit before tax of N214.2 billion, representing a 3.3% dip from N221.5 billion posted in the corresponding year ended December 2021 on the back of N35.6 billion impairment recognised on Ghanaian sovereign securities.

The Directors recommend the payment of a final dividend of N2.80k per ordinary share of 50 Kobo, bringing the total dividend for the financial year ended December 31, 2022, to N3.10k.

RelatedStories

GTCO to write off Aiteo loan and switch to aggressive recovery plan

GTCO to list ordinary shares on London Exchange, targets global capital and higher market volume 

July 3, 2025
GTCO sustains profitability momentum with growth in core income, Declares a PBT of N300.4billion in Q1 2025

GTCO sustains profitability momentum with growth in core income, Declares a PBT of N300.4billion in Q1 2025

May 1, 2025

The Group had during the 2022 financial year, declared and paid an interim dividend of 30 Kobo per ordinary share on the share capital of 29,431,179,224 Ordinary Shares of 50 Kobo each, for the half-year period ended June 30, 2022.

This is on the back of increasing inflation which the economy continues to struggle with. The headline inflation rate rose to 21.91% in February 2023 compared to 21.82% recorded in the preceding month of January.

The National Bureau of Statistics (NBS), said looking at the trend, the February 2023 inflation rate showed an increase of 0.09% points when compared to January 2023 headline inflation rate.

The Group’s loan book (net) increased by 4.6% from N1.80 trillion as of December 2021 to N1.89 trillion in December 2022, while deposit liabilities grew by 11.6% from N4.13 trillion to N4.61 trillion during the same period.

The Group’s balance sheet remains resilient with total assets and shareholders’ funds closing at N6.45 trillion and N931.1 billion, respectively. Capital Adequacy Ratio (CAR) remained very strong, closing at 24.1%. Similarly, asset quality was sustained as IFRS 9 Stage 3 Loans ratio (NPLs) improved to 5.2% in December 2022 from 6.0% in December 2021, however, Cost of Risk (COR) inched up marginally to 0.6% in FY-2022 from 0.5% in December 2021 due to impact of worsened macros on PDs.

Gross earnings  

  •  2022 FY: N539.23 billion
  •  2021 FY: N447.81 billion
  • Change: +20.41%

Net interest income  

  •  2022 FY: N259.30 billion
  • 2021 FY: N220.61 billion
  • Change: +17.54%

Interest expenses 

  • 2022 FY:  N66.09 billion
  • 2021 FY: N46.28 billion
  • Change: +42.80%

Pre-tax profit 

  • 2022 FY: N214.2 billion
  • 2021 FY: N221.5 billion
  • Change: -3.3%

Net Profit after tax

  • 2022 FY: N169.17 billion
  • 2021 FY: N174.84 billion
  • Change: -3.2%

What the Group said: Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said that the Group’s ability to navigate the peculiar challenges in the different markets where it operates underscores its strong business fundamentals and unwavering commitment to sound business strategies.

  • “Despite the varying challenges and headwinds that weighed on growth in 2022, we were determined to deliver a decent performance and scale effectively to strengthen our competitive edge and drive long-term growth.”
  • He further stated; “As an organisation, 2022 was quite significant for us being the first year after our corporate restructuring into a financial holding company in August 2021. Today, across our Banking, Payment, Funds Management, and Pension businesses, we have successfully built a robust ecosystem with immense potential to deepen our addressable market and create more value for all our stakeholders. We will continue to prioritise innovation, service excellence, and execute seamlessly towards achieving our vision of leading financial services in Africa.”

 


Follow us for Breaking News and Market Intelligence.
Tags: Guaranty Trust Holding Company PlcLondon Stock Exchange (LSE)National Bureau of Statistics (NBS)Nigerian Exchange Group (NGX)
Chris Ugwu

Chris Ugwu

Chris is a Senior Financial Analyst at Nairametrics Advocates Limited with over a decade stint in active journalism and public relations practice.

Related Posts

GTCO to write off Aiteo loan and switch to aggressive recovery plan
Equities

GTCO to list ordinary shares on London Exchange, targets global capital and higher market volume 

July 3, 2025
GTCO sustains profitability momentum with growth in core income, Declares a PBT of N300.4billion in Q1 2025
Companies

GTCO sustains profitability momentum with growth in core income, Declares a PBT of N300.4billion in Q1 2025

May 1, 2025
GTCO plc launches public offer to raise N400.5 billion
Bank Recapitalization

GTCO offer for subscription: The takeaways

July 17, 2024
GTCO,Afex Commodities Exchange
Bank Recapitalization

GTCO rated Nigeria’s strongest brand and best banking brand in Nigeria

June 22, 2024
GTCO,Afex Commodities Exchange
Bank Recapitalization

GTCO notice of proposed offering

June 11, 2024
Top 10 States with the most road accidents in Nigeria in Q3 2023 
Features

Top 10 States with the most road accidents in Nigeria in Q3 2023 

February 25, 2024
Next Post
U.S arrest,charges 21 year old Airman for leaking classified documents

U.S arrest, charges 21 year old Airman for leaking classified documents

Comments 2

  1. Zamani Chintif says:
    April 16, 2023 at 5:55 pm

    When is the commencement date for the gtco dividend payment?

    Reply
  2. Saheed says:
    April 18, 2023 at 4:15 pm

    There is an error in the key highlight

    at the second point you wrote 30 Billion instead of 259.30

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • Fresh Thinking, Fresh Spaces: Godrej reimagines Air Care with AER Power Pocket 
  • Dry Onions up 30%, pepper up 16.67% in Lagos markets as buyers and sellers react to July 2025 price swings 
  • How Fintech Infrastructure powers the modern Trading Industry 

Follow us on social media:

Recent News

Fresh Thinking, Fresh Spaces: Godrej reimagines Air Care with AER Power Pocket 

Fresh Thinking, Fresh Spaces: Godrej reimagines Air Care with AER Power Pocket 

July 17, 2025
When you travel to your village, why do you buy yams, palm oil and bananas and return them to your city?

Dry Onions up 30%, pepper up 16.67% in Lagos markets as buyers and sellers react to July 2025 price swings 

July 17, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics