Guaranty Trust Holding Company Plc (GTCO) generated a combined profit before tax of N15.94 billion from its three non-banking subsidiaries in the first half of 2026, underscoring the growing contribution of its fintech, asset management and pension businesses to Group earnings.
The performance came from HabariPay Limited, Guaranty Trust Fund Managers Limited (GT Fund Managers) and Guaranty Trust Pension Managers Limited (GT Pension Fund Administrator), according to notes accompanying the Group’s audited financial statements for the six months ended June 30, 2026.
The three subsidiaries collectively grew pre-tax profit by about 85% from N8.62 billion recorded in the corresponding period of 2025, driven largely by strong earnings growth at HabariPay and GT Fund Managers.
HabariPay, GTCO’s fintech and payment services subsidiary, delivered the strongest earnings growth among the non-banking businesses during the period.
Operating income rose to N9.44 billion in H1 2026 from N5.05 billion in the corresponding period of 2025.
After operating expenses of N1.63 billion, profit before tax increased to N7.81 billion, compared to N4.02 billion a year earlier, representing a 94% year-on-year increase.
The company reported no tax expense for the period, leaving profit after tax unchanged at N7.81 billion.
GT Fund Managers also recorded a strong performance, with operating income increasing to N8.83 billion from N4.61 billion in H1 2025.
After operating expenses of N1.62 billion, profit before tax rose to N7.21 billion, almost double the N3.71 billion reported in the corresponding period of last year.
Following a tax charge of N1.49 billion, profit after tax stood at N5.72 billion, up from N3.60 billion in H1 2025.
GT Pension Fund Administrator posted more modest growth compared to the Group’s fintech and asset management businesses.
The pension subsidiary recorded no tax charge during the period, resulting in a profit after tax of N927.84 million.
Combined, the three subsidiaries generated N15.94 billion in profit before tax during the six-month period, compared with N8.62 billion in H1 2025.
HabariPay and GT Fund Managers accounted for more than 94% of the combined pre-tax profit generated by the three subsidiaries during the period.
The financial statements also showed significant balance sheet expansion across the subsidiaries.
According to the Group’s financial statements, GT Pension Fund Administrator was valued at N17.63 billion in GTCO’s books as of June 2026, while GT Fund Managers and HabariPay were valued at N4.04 billion and N3.10 billion respectively.
The Group noted that all three subsidiaries operate under governance frameworks aligned with GTCO’s standards, with independent boards responsible for oversight and compliance within their respective businesses.
The latest results highlight GTCO’s continued push beyond traditional banking, with fintech, wealth management and pension administration emerging as increasingly important growth drivers within the Group’s holding company structure.
