GTCO’s interest income jumps as bank doubles dollar card limit
Guaranty Trust Holding Company Plc (GTCO) has reported a significant rise in its interest income, driven by higher interest rates and expanding assets. The company’s banking arm, Guaranty Trust Bank, has also doubled the international spending limit for customers using naira cards. These changes reflect the evolving financial environment for Nigerian banks since the pandemic. The move is expected to benefit both the bank and its customers.
TLDR
- GTCO’s interest income surged from N77.04bn in the first quarter of 2020 to N467bn in Q1 2026, marking a 506% increase.
- The Q1 2026 interest income was 17.5% higher than the N397.4bn recorded in the same period of 2025.
- Net interest income rose to N356.29bn from N64.28bn in Q1 2020, and the group’s net loan book grew 1.3% to N3.17tn.
- GTBank increased the quarterly international spending limit on naira cards from $20,000 to $40,000, after previously raising it from $6,000.
- In Q1 2026, GTCO reported gross earnings of N571.42bn, profit before tax of N302.89bn, and profit after tax of N218.13bn, which fell 15.42% due to higher tax liabilities.
