AUDITED HALF YEAR GROUP RESULTS FOR THE PERIOD ENDED
Commenting on the results, the Group Chief Executive Officer of
He added: "Across Banking, Funds Management, Pension, and Payments, we are leveraging a fully de-risked balance sheet to reinforce our market position while maintaining strategic flexibility for growth. This foundation positions us to take advantage of emerging opportunities and deliver lasting value for all stakeholders."
Financial Highlights
· Earnings
- Profit before tax of ₦600.9bn (
- Profit after tax therefore declined by 50.4% to ₦449.0bn from N905.6bn as of
· Revenue
- Interest income grew significantly by 31.5% to ₦812.4bn (
- Non-funded income (NFI) which comprises of
The Group booked N4.4bn fair value loss on the Financial Instrument in the current period as against gain of N493.01bn of prior corresponding period on the back of exchange rate stability. The drop in other income doused the 33.0% and 24.4% growth recorded on fees and commission income and net trading income, respectively.
- Net interest margin was up by 180bps closing at 12.3% (
· Balance Sheet
- Total assets of ₦16.692trn (
- Net loans and advances of ₦3.358trn (
- Deposit liabilities of ₦12.128trn (
· Credit Quality
- IFRS 9 Stage 3 loans to total loans closed at 3.2% (
- At Bank level, Coverage for lifetime credit impaired loans still top 100% closing 193.5% (
- Cost of Risk down to 1.7% (
· Continued focus on efficiency
- Cost to income (CIR) closed at 30.2% benefitting from strong core earnings that curtailed cost pick up to 60bps from 24.2% for the period ended
· Subsidiaries
Contribution to Group PBT from
|
Key Financials (N' billion) |
H1-2025 |
H1-2024 |
∆% |
|
Interest income |
812.4 |
617.9 |
31.5% |
|
Non-interest income |
260.3 |
774.7 |
-66.4% |
|
Operating income |
821.3 |
1,205.9 |
-31.9% |
|
Operating expenses |
258.5 |
201.8 |
28.1% |
|
Profit before tax |
600.9 |
1,003.8 |
-40.1% |
|
Profit after tax |
449.0 |
905.6 |
-50.4% |
|
Earnings per share (in Naira) |
13.6 |
32.1 |
-57.7% |
|
|
|
|
|
|
|
H1-2025 |
FY-2024 |
∆% |
|
Total Assets |
16,692.1 |
14,795.7 |
12.8% |
|
Net Loans |
3,358.0 |
2,785.8 |
20.5% |
|
Deposit Liabilities |
12,128.1 |
10,401.4 |
16.6% |
|
Key Ratios |
H1-2025 |
H1-2024 |
|
ROAE (post-tax) |
31.5% |
93.4% |
|
ROAA (post-tax) |
5.7% |
15.0% |
|
ROAE (pre-tax) |
42.1% |
103.6% |
|
ROAA (pre-tax) |
7.6% |
16.6% |
|
Net interest margin |
12.3% |
10.45% |
|
Cost-to-income ratio |
30.1% |
16.7% |
|
|
|
|
|
|
H1-2025 |
FY-2024 |
|
Net loans to deposits |
27.7% |
26.8% |
|
Liquidity ratio |
43.0% |
49.2% |
|
Capital adequacy ratio |
36.2% |
39.3% |
|
NPL/total loans |
4.5% |
5.2% |
|
Cost of risk |
1.7% |
4.9% |
|
Coverage (with Reg. Risk Reserves) |
124.1% |
138.7% |
Enquiries:
|
Oyinade Adegite, Head, Group Communication |
+234-1-2715227 |
|
Charles Eremi, Group Communication |
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Notes to the Editors:
The Group operates as one of the leading Nigerian financial services companies offering a wide range of commercial banking as well as non-banking financial services in
The Group has the following Banking subsidiaries (including sub-subsidiaries) and non-banking subsidiaries within and outside of
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13) Guaranty Trust Fund Managers
14) Guaranty Trust Pension Manager
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