GTCO posts H1 2026 results as HabariPay’s profit jumps 94% to ₦7.8bn

Guaranty Trust Holding Company (GTCO) is seeing significant growth in its fintech, pension, and funds management sectors, marking a shift beyond traditional banking. A big contributor to this success is HabariPay, GTCO’s payments subsidiary, which nearly doubled its profits in the first half of 2026 compared to the same period last year.

Between January and June 2026, HabariPay, along with GT Fund Managers and GT Pension Fund Administrator, reported a remarkable profit before tax of ₦15.94 billion. This is a notable jump from ₦8.62 billion recorded during the same period in 2025, highlighting strong performance of these financial services.

These figures are detailed in GTCO’s audited financial statements for the six months ending June 30, 2026. This growth story underscores GTCO’s strategic move to venture beyond its conventional banking roots, as it explores new opportunities in payments, wealth management, and pensions.

As the group diversifies, it aims to position itself as a leader in the evolving financial landscape, offering a wider range of services to meet the needs of its customers.

HabariPay nearly doubles profit

HabariPay, the fintech and payments division of GTCO, has emerged as a standout performer among its non-banking subsidiaries, showing remarkable growth in the first half of 2026. The company reported a profit before tax of ₦7.81 billion, a staggering 94% increase from ₦4.02 billion in the same period the previous year. Its operating income surged to ₦9.44 billion, up from ₦5.05 billion, highlighting significant momentum in its business operations.

After accounting for operating expenses of ₦1.63 billion, HabariPay’s impressive earnings illustrate its growing importance within GTCO. Remarkably, this fintech entity single-handedly contributed nearly half of the total pre-tax profit generated from GTCO’s various operations, including payments, pensions, and funds management.

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This shift underscores GTCO’s strategy to elevate payments and digital financial services into a standalone business, rather than simply an add-on to its traditional banking model. The organisation recognises that digital services are crucial for expanding its overall banking and financial services portfolio.

In the same period, GT Fund Managers also showcased substantial growth, surpassing HabariPay in operating income. Its operating income climbed to ₦8.83 billion, a significant rise from ₦4.61 billion in H1 2025. Similarly, profit before tax jumped to ₦7.21 billion, up from ₦3.71 billion, while profit after tax reached ₦5.72 billion after a ₦1.49 billion tax charge.

The fund manager’s assets have expanded greatly, totalling around ₦1.42 trillion by the end of June 2026, a noticeable increase from ₦880.06 billion just six months prior. This growth indicates a successful strategy in managing assets for customers and investors, shifting away from merely taking deposits and issuing loans.

GT Pension Fund Administrator showed modest progress during the same period, with its operating income rising to ₦2.15 billion from ₦1.96 billion. Its profit before tax also saw an increase, reaching ₦927.84 million compared to ₦900.03 million in H1 2025. Total assets also grew to ₦16.33 billion from ₦15.73 billion at the close of 2025.

Overall, the combined pre-tax profit from HabariPay, GT Fund Managers, and GT Pension stood at ₦15.94 billion, reflecting an impressive 85% rise from the ₦8.62 billion recorded a year earlier. Notably, HabariPay and GT Fund Managers contributed more than 94% of this collective profit, showcasing their pivotal roles in GTCO’s evolving financial landscape. With these developments, GTCO clearly illustrates its commitment to harnessing digital innovation to drive growth across its financial services.

GTCO made ₦603bn overall

GTCO continues to showcase a diverse range of operations, but the contributions of its non-banking segments are still small compared to its traditional banking activities. In the first half of 2026, the group reported a profit before tax of ₦603.03 billion, reflecting a modest increase of 0.4% compared to the same period in 2025.

This slight growth comes amid notable contributions from various sectors: interest income jumped by 7.5%, and trading income soared by an impressive 24.7%. However, a significant fair-value loss of ₦46.2 billion tempered the overall profit growth.

By the end of June, GTCO’s total assets reached a substantial ₦18.6 trillion. In a positive sign for the bank, customer deposits rose by 10.3%, climbing from ₦12.87 trillion in December 2025 to ₦14.19 trillion. As a show of confidence in its continued success, the group declared an interim dividend of ₦1 per share.

These first-half results tell a compelling story about GTCO’s evolution. While its traditional banking operations remain the backbone of its earnings, the rapid growth in its payments, fund management, and pension businesses reveals a promising shift. This diversification is not only bolstering revenue but also positioning GTCO for a more robust future beyond the confines of conventional banking.

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