Gtco Achieves Over N1 Trillion Profit, Announces Final Dividend Of N7.03

A profit before tax of N1.27 trillion was declared by Guarantee Trust Holding Company Plc GTCO for the fiscal year 2024, which represents a 103.8 increase over the N609.31 billion reported in 2023.

The group also reported an after-tax profit of N1.02 trillion in its audited financial statement, which was made public on the Nigerian Exchange Limited on Friday. This represents an increase of 88.6 from N539.66 billion in 2023.

Due to its outstanding performance, GTCO is now ranked second only behind Zenith Bank Plc, which had reported a PBT of N1.33 trillion for the same time, as one of Nigerias most profitable financial institutions in 2024.

The Board of Directors of GTCO has suggested a final dividend of N7.03 per share in response to the companys remarkable earnings growth. This would raise the total payout for the fiscal year that concluded on December 31, 2024, to N8.03 per share, a substantial increase from the N3.20 per share that was announced in 2023.

In a report to the NGX, the company said, Our strong financial performance underscores the resilience of our business model and our ability to create sustainable value for shareholders.