Follow Us on Google Discover
Guaranty Trust Holding Company Plc (GTCO) generated a combined profit before tax of N15.94 billion from its three non-banking subsidiaries in the first half of 2026, underscoring the growing contribution of its fintech, asset management and pension businesses to Group earnings.
The performance came from HabariPay Limited, Guaranty Trust Fund Managers Limited (GT Fund Managers) and Guaranty Trust Pension Managers Limited (GT Pension Fund Administrator), according to notes accompanying the Group’s audited financial statements for the six months ended June 30, 2026.
The three subsidiaries collectively grew pre-tax profit by about 85% from N8.62 billion recorded in the corresponding period of 2025, driven largely by strong earnings growth at HabariPay and GT Fund Managers.
HabariPay profit jumps 94% to N7.81 billion
HabariPay, GTCO’s fintech and payment services subsidiary, delivered the strongest earnings growth among the non-banking businesses during the period.
Also Read
Operating income rose to N9.44 billion in H1 2026 from N5.05 billion in the corresponding period of 2025.
After operating expenses of N1.63 billion, profit before tax increased to N7.81 billion, compared to N4.02 billion a year earlier, representing a 94% year-on-year increase.
The company reported no tax expense for the period, leaving profit after tax unchanged at N7.81 billion.
GT Fund Managers nearly doubles earnings
GT Fund Managers also recorded a strong performance, with operating income increasing to N8.83 billion from N4.61 billion in H1 2025.
After operating expenses of N1.62 billion, profit before tax rose to N7.21 billion, almost double the N3.71 billion reported in the corresponding period of last year.
Following a tax charge of N1.49 billion, profit after tax stood at N5.72 billion, up from N3.60 billion in H1 2025.
Pension business records steady growth
GT Pension Fund Administrator posted more modest growth compared to the Group’s fintech and asset management businesses.
- Operating income increased to N2.15 billion in H1 2026 from N1.96 billion a year earlier.
- After operating expenses of N1.22 billion, profit before tax rose slightly to N927.84 million from N900.03 million recorded in the corresponding period of 2025.
The pension subsidiary recorded no tax charge during the period, resulting in a profit after tax of N927.84 million.
Contribution to Group earnings
Combined, the three subsidiaries generated N15.94 billion in profit before tax during the six-month period, compared with N8.62 billion in H1 2025.
- While the contribution remains relatively small compared to GTCO’s overall profit before tax of N603.03 billion, the results highlight the increasing role of the Group’s non-banking businesses in its diversification strategy.
HabariPay and GT Fund Managers accounted for more than 94% of the combined pre-tax profit generated by the three subsidiaries during the period.
Assets under management drive balance sheet growth
The financial statements also showed significant balance sheet expansion across the subsidiaries.
- HabariPay’s total assets increased to N23.18 billion as of June 30, 2026, from N18.31 billion at the end of December 2025.
- GT Fund Managers recorded the most significant growth, with total assets rising to N1.42 trillion from N880.06 billion, reflecting growth in assets under management and investor participation.
- GT Pension Fund Administrator’s total assets increased to N16.33 billion from N15.73 billion over the same period.
- GTCO maintain a full ownership
- GTCO owns 100% of HabariPay, GT Fund Managers and GT Pension Fund Administrator.
According to the Group’s financial statements, GT Pension Fund Administrator was valued at N17.63 billion in GTCO’s books as of June 2026, while GT Fund Managers and HabariPay were valued at N4.04 billion and N3.10 billion respectively.
The Group noted that all three subsidiaries operate under governance frameworks aligned with GTCO’s standards, with independent boards responsible for oversight and compliance within their respective businesses.
The latest results highlight GTCO’s continued push beyond traditional banking, with fintech, wealth management and pension administration emerging as increasingly important growth drivers within the Group’s holding company structure.
