GTCO earns a pretax profit of 214 billion in 2022

Similarly, asset quality was maintained as the IFRS 9 Stage 3 Loans ratio; non-profit loans (NPLs) fell to 5.2% in December 2022 from 6% in December 2021. Guaranty Trust Holding Company Plc (GTCO) reported a profit before tax of 214.2 billion in its Audited Consolidated and Separate Financial Statements for the fiscal year ending December 31, 2022 on Friday. According to results made available to the Nigerian Exchange Group (NGX) and the London Stock Exchange (LSE), the decrease in profit before tax was 3.3 percent lower than the 221.5 billion posted in the corresponding year ended December 2021. Overall, the Group maintains one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios, including pre-tax return on equity (ROAE) of 23.6%, pre-tax return on assets (ROAA) of 3.6%, full impact capital adequacy ratio (CAR) of 24.1%, and cost to income ratio of 48%. GTCO is a financial services conglomerate with banking operations in Nigeria, West Africa, East Africa, and the United Kingdom, as well as new ventures in payment, funds management, and pension fund administration.