Business
GTCO Plc Releases Q1 2022 Unaudited Results……..Reports Profit Before Tax of ₦54.3billion
GTCO Plc Releases Q1 2022 Unaudited Results……..Reports Profit Before Tax of ₦54.3billion
Guaranty Trust Holding Company Plc (“GTCO Plc” or “the Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2022, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group reported profit before tax of ₦54.3billion, representing an increase of 1.1% over ₦53.7billion recorded in the corresponding period March 2021. FX translation of the FCY loan book led to a drop in the Group’s net loans by 4.7% from ₦1.80trillion recorded as at December 2021 to ₦1.72trillion in March 2022. Deposit liabilities however grew by 0.7% from ₦4.13trillion in December 2021 to ₦4.16trillion in March 2022.
The Group’s Balance Sheet remained well structured and resilient with Total Assets and Shareholders’ funds closing at ₦5.50trillion and ₦908.8billion, respectively. Strong Capital Ratios and Asset Quality was sustained as CAR, NPL ratio and Cost of Risk (COR) closed at 22.9%, 5.9% and 0.1% in March 2022 from 23.8%, 6.0% and 0.5% in December 2021, respectively.
Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said; “Our first quarter results show a decent improvement across key revenue lines as well as other financial metrics, which demonstrates our ability to effectively navigate the evolving business landscape anchored on our strong business fundamentals.”
He further added, “With this performance, we are optimistic about the rest of 2022 as we rapidly consolidate the gains of our new holding company structure to deliver superior Stakeholder value. Importantly, our non-banking businesses including Pension Management, Wealth Management and Payments will serve to diversify our earnings capacity as we look to create a model financial services ecosystem for all of Africa. As a Group, we are fully committed to providing innovative financial solutions whilst constantly delivering best-in-class customer experiences in line with our long-term strategy.”
In terms of significant performance metrics, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Post-Tax Return on Equity (ROAE) of 19.3%, Post-Tax Return on Assets (ROAA) of 3.2%, Full Impact Capital Adequacy Ratio (CAR) of 22.9% and Cost to Income ratio of 47.0%.
GTCO Plc is a fully-fledged financial services group with banking operations across West and East Africa and the United Kingdom as well as non-banking businesses in several key industry segments including Payment, Funds Management and Pension Fund Management. With over 25 million customers and more than 10,000 employees, the Group remains one of the most profitable and best managed financial services companies out of Nigeria. Its leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years including Africa’s Best Bank and the Best Bank in Nigeria at the 2021 Euromoney Awards for Excellence. It also retained its position as Africa’s Most Admired Financial Services Brand in the 2021 ranking of The Brand Africa 100: Africa’s Best Brands.
Bank
Alpha Morgan Bank Expands Footprint with Three New Branches
Alpha Morgan Bank Expands Footprint with Three New Branches
Alpha Morgan Bank announced the opening of three new branches in Maitama Abuja, Garki Abuja and Olu Obasanjo Road, Port Harcourt, a strategic move that reinforces the bank’s commitment to expanding access to satisfying banking services across Nigeria.
With headquarters in Wuse 2, Abuja, and kickstart with over 14 branches nationwide, the bank’s expansion is expected to create several opportunities, supporting employment opportunities, stimulating small business growth and development initiatives through strategic partnerships and outreach.
“This growth is about deepening our connection to the communities we serve,” said Mr. Ade Buraimo, Managing Director/CEO of Alpha Morgan Bank. “We are not just opening doors; we are opening opportunities.”
The bank also offers tailored banking solutions, through its digital and *734# USSD banking. Alpha Morgan Bank is ensuring that individuals and businesses, regardless of background or digital literacy, can participate fully in the financial ecosystem.

Alpha Morgan Bank’s growth is anchored in a bold commitment to delivering satisfying banking to customers.
As the new branches open their doors, the Bank invites individuals, entrepreneurs, and corporate clients to walk in and experience its approach to Satisfying Banking.
Business
Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes
Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes
– Seals Three-Year Contract
By Oluwaseun Fabiyi
Masterpiece Homes Development and Gardens Limited has taken a bold step in strengthening its brand presence by unveiling celebrated Nollywood actress Joke Lawal as its new brand ambassador. The landmark announcement came with the signing of a three-year contract at the company’s head office in Lagos on Friday, August 22, 2025.
The unveiling ceremony, described as a major milestone in the company’s growth, featured a symbolic presentation of a branded Masterpiece T-shirt and the signing of official documents by Joke Lawal and the company’s Chairman, Prophet Israel Oladele Ogundipe, alongside the Group Managing Director, Mr. Emmanuel Oladimeji. The atmosphere was charged with excitement as dignitaries, industry stakeholders, and guests applauded the partnership.
Speaking at the event, Prophet Ogundipe expressed pride in the company’s achievements despite industry challenges. He emphasized the importance of youth participation in Nigeria’s real estate sector for long-term sustainability. “Masterpiece Homes continues to be a trailblazer in the industry. This partnership with Joke Lawal is a testament to our vision of connecting heritage, innovation, and trust,” he said.
Group Managing Director, Mr. Oladimeji, hailed the initiative as a strategic move that positions Masterpiece Homes beyond the confines of a conventional real estate firm. “This is more than business—it is about celebrating our resilience and creativity as Nigerians. Our new brand ambassador will play a pivotal role in reinforcing our value chain while ensuring we preserve a genuine real estate culture for generations,” he stated.
Joke Lawal, visibly elated, described Masterpiece Homes as a symbol of innovation and authenticity in Nigerian real estate. “This unveiling represents a bold step in redefining the real estate sector in Nigeria. Masterpiece Homes is not just a company—it is a celebration of identity, trust, and vision,” she remarked.
The event featured vibrant performances, with guests clad in branded attires, reflecting the company’s culture of community celebration.
Masterpiece Homes Development and Gardens Limited has long been recognized as a reputable real estate brand connecting Nigerians at home and abroad to legitimate homeownership opportunities. With Nigeria’s real estate now ranked as the nation’s third-largest sector—behind crop production and trade—the company has renewed its commitment to bridging investment opportunities between Africa and the diaspora.
The unveiling of Joke Lawal as brand ambassador, according to Mr. Oladimeji, is not only a milestone for Masterpiece Homes but also a stimulus for broader industry growth. “Diaspora investments in Nigerian real estate remain vital. By creating systems that make homeownership seamless, Masterpiece ensures a win-win for all stakeholders,” he noted.
With this partnership, Masterpiece Homes Development and Gardens Limited positions itself to expand its influence and uphold its reputation as a trusted leader in Africa’s booming real estate market.
Oluwaseun Fabiyi is the official media consultant to Masterpiece Homes Development and Gardens Limited
Business
Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership
Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership
The newly approved Ibeju-Lekki Branch of the Nigerian Society of Engineers (NSE), which recently emerged as the 91st branch of the Society, has paid a courtesy visit to the Chairman/CEO of Adron Homes and Properties Limited, Sir Aare Adetola Emmanuel King KOF, at the company’s headquarters.
The delegation of engineers, led by Engr. Olufemi Dare, FNSE, the Chairman of the Branch, described the visit as a strategic step towards strengthening relationships with corporate organizations that have consistently upheld professionalism and structural integrity in their projects.
In his remarks, Engr. Dare praised Adron Homes for its exceptional commitment to quality housing delivery across Nigeria and beyond, emphasizing that its reputation for structural integrity and innovation in real estate development stands as a reference point for engineering excellence. He further informed the Adron Chairman that the branch would be conferring an award of recognition on him at their forthcoming official inauguration ceremony, in acknowledgment of his outstanding contributions to housing development and infrastructural growth in Nigeria.
The discussions also explored potential partnership opportunities between NSE Ibeju-Lekki and Adron Homes in engineering, professional development, and sustainable housing innovations.
Responding, the Chairman of Adron Homes, Sir Aare Adetola Emmanuel King, warmly welcomed the delegation and expressed delight at the prospect of a lasting partnership. He acknowledged the critical role engineers play in national development, while also noting the numerous challenges facing the engineering sector in Nigeria. He stressed that these challenges can only be surmounted by engaging qualified and dedicated professionals, a principle upon which Adron Homes has built its reputation.
According to him, “Engineering is the backbone of any meaningful infrastructural advancement, and as developers, we cannot afford to compromise on professionalism. This is why I am excited about this partnership and look forward to building a mutually beneficial relationship with the NSE Ibeju-Lekki branch.”
The NSE Ibeju-lekki delegation included Engr. Tiramisu Bello, MNSE (Vice Chairman); Engr. Omolola Adetola, FNSE (General Secretary); Engr. Taiwo Musa, MNSE (Assistant General Secretary); Engr. Ayodele Agunloye, MNSE (Financial Secretary); Engr. Opeyemi Olabisi, MNSE (Technical Secretary); Engr. Oluwadare Raji, MNSE, among several others.
On the part of Adron Homes, the Chairman was joined by key members of the executive team, including Adenike Ajobo, Managing Director; Tolani Roberts, Deputy Managing Director, Business Investment and Development; Mr. Kunle Ifeanyi Konwea, Director of Brand and Communications; Maureen Echefu, Chief Press Secretary, among others.
The visit not only highlighted Adron Homes’ enduring commitment to professional engineering standards, but also set the tone for a new chapter of collaboration between the real estate giant and the newly inaugurated NSE Ibeju-Lekki Branch, with both parties pledging to drive innovations that will redefine housing and infrastructural development in Nigeria.
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