|
Listen now
Getting your Trinity Audio player ready...
|
Guaranty Trust Holding Company (GTCO) recorded a slide in profit in three out of its four regions of operations as it struggled to grow revenues in the Half Year 2025 period.
The Group operates in four geographic regions, being: · Nigeria, Rest of West Africa (comprising Ghana, Gambia, Sierra Leone, Liberia, Cote D’Ivoire), East Africa (comprising Kenya, Uganda, Rwanda and Tanzania), and Europe (UK).
Profit before income tax slumped by 51.5% to N411.8 billion at GTCO Nigeria operations in H1, 2025, compared to N850.6 billion in the 2024 period, data from its most recent financials seen by MoneyCentral show.
East Africa profit fell to N9.5 billion from N11.49 billion, while profit from Europe operations fell to N10.2 billion from N11.08 billion in H1, 2024.
The Rest of West Africa region was the only one to see profit growth which rose by 30% to N169.35 billion in June 2025.
Revenue also fell broadly in Nigeria and East Africa, while remaining flat in Europe and rising in Rest of West Africa for the Half Year 2025 period.
For the first six months through June 2025, GTCO’s profit after tax (PAT) dipped by 50.41 percent to N449.01 billion from N905.56 billion as at June 2025.
The sharp fall at the bottom line (profit) was caused by deterioration in FX related exceptional gains which had been a major driver of earnings growth in the past.
Follow the MoneyCentral Nigeria channel on WhatsApp: Click here!
 recorded a slide in profit in 3 out of its four regions of operations as it struggled to grow revenues){kind=link}