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GTCO Plc Releases 2022 Q3 Unaudited Results…….. Reports Profit Before Tax of ₦169.7billion
GTCO Plc Releases 2022 Q3 Unaudited Results…….. Reports Profit Before Tax of ₦169.7billion
Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Unaudited Consolidated and Separate Financial Statements for the period ended September 30, 2022, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).
The Group reported profit before tax of ₦169.7billion, representing an increase of 11.7% over ₦151.9billion recorded in the corresponding period ended September 2021. The Group’s loan book (net) increased by 2.2% from ₦1.80trillion recorded as at December 2021 to ₦1.84trillion in September 2022, while deposit liabilities increased by 6.4% from ₦4.13trillion in December 2021 to ₦4.39trillion in September 2022
The Group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at ₦5.81trillion and ₦872.8billion, respectively. Strong Capital Ratios and Asset Quality were sustained as CAR, NPL ratio, and Cost of Risk (COR) closed at 20.7%, 5.6%, and 0.2% in September 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 (GTCO Plc), Mr. Segun Agbaje, said; “The Group’s 3rd quarter result reaffirms our strategy for long-term growth and underscores our capacity to deliver sustainable strong performance despite the volatilities in our operating environment. We have also kept in focus our vision of supporting small and medium enterprises specifically through our free business platforms to help them stay in business and expand their offerings. With our non-banking businesses fully operational alongside our core banking subsidiary, we are well positioned to maximise our earnings potential going into the 4th quarter of the year.”
He further stated; “In creating a thriving financial services ecosystem, our goal is to offer great experiences to all who interact with our brand whilst continually enhancing access to innovative financial solutions for individuals and businesses across Africa. We are appreciative of all our customers and other stakeholders who are with us on this journey of building a truly global African financial services institution.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 25.8%, Pre-Tax Return on Assets (ROAA) of 4.0%, Full Impact Capital Adequacy Ratio (CAR) of 20.7% and Cost to Income ratio of 45.1%.
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 ₦5.8trillion in assets and over 28 million customers, the Group remains one of the most profitable and best-managed financial services companies out of Nigeria providing commercial banking services and non-banking financial services across eleven countries. Its leadership in the banking industry and efforts at empowering people and communities have earned it many prestigious awards over the years including Best Banking Group in Nigeria and Most Innovative Bank in Nigeria at the 2022 World Finance Banking Awards. It also retained its position as Africa’s Most Admired Financial Services Brand in the 2022 ranking of The Brand Africa 100: Africa’s Best Brands.
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.
Alpha Morgan Bank Rolls Out Mobile App for Android & iOS — Instant Account Opening on Alpha Morgan Bank Mobile App
Alpha Morgan Bank officially launched its mobile banking application, marking a major milestone in the Bank’s mission to simplify banking experiences for individuals and businesses across Nigeria. The Alpha Morgan Banking App is available for download on both Goole Play Store and iOS App Store.
Built around the principles of simplicity and user-centric innovation, the Alpha Morgan App allows customers to take full control of their finances from the palm of their hand anytime and anywhere. With features that meet the evolving needs of modern banking users, the app provides a secure, intuitive, and efficient digital banking experience, designed to make everyday banking fast, simple, and secure.
Users can enjoy instant onboarding and account access, seamless fund transfers both within and outside Alpha Morgan Bank network and effortless bill payments. The app also offers real-time transaction history for easy tracking, secure login options including biometric authentication, and round-the-clock access to customer service support, all tailored to delivering Satisfying Banking at your fingertips.
According to Mr. Ade Buraimo, Managing Director/CEO of Alpha Morgan Bank, “The launch of the Alpha Morgan App is a digital convenience and a significant step forward in our broader mission of delivering satisfying banking to every customer.”
This digital rollout also complements Alpha Morgan Bank’s commitment to flexible and accessible banking across Nigeria’s diverse population.
Customers can now download the Alpha Morgan App on Google Play Store and iOS App store.
Scan to download Alpha Morgan Bank App
FirstBank Agric and Export Conference: Charting a New Course for Non-Oil Exports
Lagos, 11 August 2025 – FirstBank, the premier West African financial institution and financial inclusion service provider is proud to announce the 2025 edition of the FirstBank Agric and Export Conference themed “The Fundamentals of Building a Non-Oil Export Driven Economy“, which will take place on Tuesday, August 19, 2025, at the Eko Convention Centre. Building on the momentum of previous successful editions, this year’s Expo reaffirms the Bank’s commitment to supporting Nigeria’s agricultural and non-oil export sectors as key drivers of economic development.
The FirstBank Agric and Export Conference aims to keep Nigerians abreast of emerging trends in the agricultural and non- oil export sector, whilst providing them insights into how innovative solutions can contribute to the overall development of the economy, and the nation at large. The conference will adopt a hybrid format, allowing most participants to join virtually while principal stakeholders attend in person. Attendees will have the opportunity to explore exhibition booths featuring major organizations and associations from industry. The event will feature a keynote speech, Goodwill messages, Plenary discussions, where select Speakers will expound on the theme and technical sessions to be handled by subject matter Specialists in the Agriculture and Export Value Chain.
Expected guest speakers include the Honourable Minister of Agriculture & Food Security, Senator Abubakar Kyari as the keynote speaker while the plenary and technical sessions will be enriched by insights from industry leaders like the MD Bank of Agriculture (BOA), Mr. Jafar Abubakar Umar; MD/CEO Nigerian Export-Import Bank (NEXIM), Mr. Abba Bello; National Action Committee on AfCFTA, Mr. Segun Awolowo; President, All Farmers Association of Nigeria, Architect Kabir Ibrahim, CEO Nigerian Export Promotion Council (NEPC), Mrs. Nonye Ayeni and a host of others. These renowned speakers will contribute their expertise and perspectives throughout the various sessions, ensuring participants gain valuable knowledge to enhance their roles within the agricultural and export value chain
Speaking on the Conference, Olusegun Alebiosu, Managing Director, FirstBank Group stated, “The FirstBank Agric and Export Conference is a strategic platform for stakeholders to converge, share knowledge, and drive strategies that can unlock the full potential of Nigeria’s agricultural sector and non-oil export industry. Through this platform, FirstBank is empowering customers and stakeholders by providing them with actionable insights, innovative solutions, and valuable connections that can help them navigate the complexities of the agricultural and nonoil export sectors. In addition, we aim to deliver tangible benefits to our customers, enhance their business prospects, and create lasting value for our stakeholders, while contributing to the growth and development of Nigeria’s economy.”
To participate in the FirstBank Agric and Export Conference, interested participants can click on https://firstbanknigeria.zoom.us/webinar/register/WN_Lit8tD6KSm6kzLMcyHwo8Q to register.
The FirstBank Agric and Export Conference is one of the Bank’s key initiatives to promote collaboration and innovation within the agricultural and non- oil export sectors. By providing a strategic platform for stakeholders, the conference aims to enhance the competitiveness of customers and partners in the global market. With agriculture identified as the most viable alternative to oil for generating foreign exchange earnings, this initiative supports economic diversification and is poised to accelerate national growth and development.
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