Guaranty Trust Holding Company Plc · NSENG:GTCO
Guaranty Trust — FY2024 Earnings Presentation
64 slides from Guaranty Trust's earnings presentation, April 2025
Slide 1: April 2025 Investor Full Year Presentation 2024
April 2025 Investor Full Year Presentation 2024 Guaranty Trust Holding Company Plc
Slide 2: Outline
Outline 01 The GTCO Story 02 Group Overview 03 Group Performance Highlights 04 Operating Environment 05 Business Areas Review 06 Non-Financial Highlights 07 Guidance & Plans for 2025
Slide 3: The GTCO Story
= The GTCO Story
Slide 4: Who We Are
The GTCO Story Who We Are We are an African financial institution, shaping the future of finance in Africa by Group Overview empowering people, facilitating business growth, and developing communities on a foundation of strong governance principles. We are one of Africa’s leading financial services ins
Slide 5: Company history and evolution
The GTCO Story IPO in 2001. Universal banking license in We have evolved from a pure-play 2001. Started operations in Cote Reorganized for growth into d’Ivoire (2012). Banking franchise to become a thriving a Holding Company Group Overview Expansion into Gambia, Sierra Structure. Financial Holding C
Slide 6: Corporate Structure and Geographic Spread
The GTCO Story Corporate Structure and Geographic Spread GTCO comprises its principal banking franchise alongside its fast-growing non-banking businesses Group Overview Guaranty Trust Holding Company Plc Group Performance Guaranty Trust Guaranty Trust Guaranty Trust Bank Ltd HabariPay Funds Manageme
Slide 7: Credit Ratings
The GTCO Story Credit Ratings1 Best in Class’ ratings within its peer group at B-/B- (with both stable outlook) from S&P and Fitch respectively. Group Overview Local Currency Foreign Rating Agency Year Rating Currency Rating Group Performance Highlights 2023 AA(nga) B/Stable Environment 2024 AA(nga)
Slide 8: Delivering Long-Term Shareholder Value - Share Price History and EPS Trend
The GTCO Story Delivering Long-Term Shareholder Value - Share Price History and EPS Trend Group Overview Liquid stock with consistent appreciation in value Higher, growing EPS underpinned by strong profitability Group Performance Highlights Environment Operating Long history of profitability and eff
Slide 9: Strategic Priorities – Diversify Earnings and Position for Transformational Growth
The GTCO Story Strategic Priorities – Diversify Earnings and Position for Transformational Growth Proudly African, Group Overview Connected Diversified Scale Truly International Group Performance Highlights Environment Operating Business Areas Review Unlock and leverage Deliver at scale and Elevate c
Slide 10: Group Overview
E Group Overview
Slide 11: Creating a Connected Ecosystem to Address All of Our Customers' Financial Needs
The GTCO Story Creating a Connected Ecosystem to Address All of Our Customers’ Financial Needs From Banking to Funds Management, Pensions to Payments, we are creating a connected ecosystem that makes financial solutions and services easy to access, helping people and businesses to thrive through thei
Slide 12: Resilient and Adaptive Business Model
The GTCO Story Resilient and Adaptive Business Model We operate a proven, innovation-led model, driven by a consistent strategic framework Group Overview Connected Proudly African, Diversified Scale Truly International Group Performance Highlights Unwavering Well-structured lines Sound business Long-
Slide 13: Growth Strategy and Objectives Going Forward
The GTCO Story Growth Strategy and Objectives Going Forward Ex-Nigeria Group Overview ▪ Deepen market penetration to extract more value from ex-Nigeria banking subsidiaries. ▪ Explore organic new market entry into Senegal, and explore growth expansion for the Kenya and Rwanda 1 Bankin banking subsid
Slide 14: Group Performance Highlights
Group Performance Highlights
Slide 15: Improved Performance Across Banking and Non-Banking Businesses
The GTCO Story Improved Performance Across Banking and Non-Banking Businesses Group Overview ▪ Delivered ₦1.27trn in PBT, exceeding our guidance of ₦806.0bn. ▪ Achieved record revenues in Banking, Fund Management, Pension and Payment verticals. Banking Group Performance Fund Managers Highlights ▪ Y-
Slide 16: Key Performance Ratios
The GTCO Story Key Performance Ratios The Group continues to post one of the best metrics in the Nigerian Financial Services Industry Group Overview Dec 31, 2023 Dec 31, 2024 Net Interest Margin 7.88% 10.86% Group Performance Cost to Income Ratio 29.13% 24.14% Highlights Capital Adequacy Ratio 21.94
Slide 17: Balance Sheet Snapshot
The GTCO Story Balance Sheet Snapshot – Strong, Healthy, Well-structured and Diversified Balance Sheet Balance sheet - Group Selected data, for the year ended Dec 31 Group Overview y-o-y Total assets Total liabilities Total deposits In thousands of Nigerian Naira Dec-24 Dec-23 change (%) Assets Group
Slide 18: Balance Sheet Composition – Growth in Deposit and Loans
The GTCO Story Balance Sheet Composition – Growth in Deposit and Loans, Well-diversified Asset Base Group Overview Loans, Deposits, Total Assets (₦'Bn) Components of Asset Base (₦'Bn) Group Performance Highlights Environment Operating Business Areas Review ▪Total assets up 52.7%, largely driven by 12
Slide 19: Balance Sheet Composition – Improved Funding Mix
The GTCO Story Balance Sheet Composition – Improved Funding Mix Group Overview Funding Mix (₦'Bn) ▪Total funding comprises customers deposit (70.3%) and Equity (18.3%). Group Performance Highlights ▪Equity up by 83.6% driven by 88.6% growth in profit after tax and additional equity raise of N208.1 bi
Slide 20: Income Statement Snapshot - Industry Leading Performance
The GTCO Story Income Statement Snapshot - Industry Leading Performance Income statement - Group Group Overview Gross Earnings Selected data, for the year ended Dec 31 PBT (₦'Bn) PAT (₦'Bn) (₦'Bn) y-o-y In thousands of Nigerian Naira Dec-24 Dec-23 change 81.1% 107.8% 88.6% (%) Group Performance Reve
Slide 21: PBT Trend – 1st Nigerian Financial Institution to Cross ₦1 Trillion
Introduction PBT Trend – 1st Nigerian Financial Institution to Cross ₦1 Trillion in Profitability Group Overview PBT (₦'Bn) Return on Average Assets & Equity Group Performance Highlights Environment Operating ▪ Bank Nigeria operations accounted for 77.3% of PBT, West Africa - 18.4%, East Africa - 1.5
Slide 22: Revenue Generation – Diversified Revenue Base
The GTCO Story Revenue Generation – Diversified Revenue Base; Core Earnings Remain Very Strong ▪ Interest income up 143.6% driven by 54.7% growth in earning asset volumes coupled with portfolio yield improvement of 185bps ▪ Non-interest revenue up 26.9% largely driven by increased transactional volum
Slide 23: Margin Metrics – Sustained Competitive Margins
The GTCO Story Margin Metrics – Sustained Competitive Margins Yields on Interest Earning Assets Net Interest Margin Group Overview Group Performance Highlights Environment Operating Cost of Funds ▪ NIM improved to 10.86% in FY-2024 from 7.88% as of FY-2023 as Business Areas Review yield on the earni
Slide 24: Expenses Overview – Enhanced Efficiencies
The GTCO Story Expenses Overview – Enhanced Efficiencies Overview of Expenses (₦’Bn) Cost to Income Ratio (CIR) Group Overview Group Performance Highlights Environment Operating Expense Drivers Business Areas Review ▪ Increased operating cost in Nigeria, West and East African regions Operating Expense
Slide 25: OPEX - Sustaining Cost Discipline While Investing for Growth
The GTCO Story OPEX - Sustaining Cost Discipline While Investing for Growth Group Group Group Overview In billions of Naira FY 2024 FY 2023 Change (Y-o-Y) % Change (Y-o-Y) Depreciation and Amortization 58.0 39.1 18.9 48.4% AMCON Expenses 36.7 27.3 9.3 34.2% Occupancy Costs and Repairs & Maintenance
Slide 26: Risk Asset Mix - Strength in Quality
The GTCO Story Risk Asset Mix - Strength in Quality ▪ The Group continued to maintain a well-distributed loan book with a specific focus on asset quality across select business segments. ▪ The contribution of the oil & gas sector to the gross loans portfolio at the Bank level improved to 48% in FY-20
Slide 27: Improved Asset Quality - Strengthening Portfolio Resilience
The GTCO Story Improved Asset Quality - Strengthening Portfolio Resilience Gross Loans Staging Loan Impairment Charge Group Overview Group Performance Highlights Environment Operating ▪ Strong asset quality with contribution of stage 2 loans (₦75.2bn) dropping to 2.6% in FY-2024 from 16.3% in FY-202
Slide 28: Asset Quality - Supported by Disciplined Credit Practices
The GTCO Story Asset Quality - Supported by Disciplined Credit Practices and Enterprise-Wide Risk Management Framework. NPL and Coverage Group Overview ▪ The Group’s IFRS 9 stage 3 loans closed at 5.2% (Bank: 3.5%) in FY-2024 from 4.2% (Bank: 2.5%) in FY-2023. Education and others emerged as sectors
Slide 29: Strong Capital Ratio - Sustaining Robust Capital Buffers
The GTCO Story Strong Capital Ratio - Sustaining Robust Capital Buffers ▪ The Group continued to maintain strong capital positions with Full IFRS 9 Capital Adequacy Ratio (Basel II) Group Overview impact Capital Adequacy Ratio (CAR) of 39.3%; 2400bps above the regulatory minimum of 15% and 2300bps if
Slide 30: Liquidity Ratio - Strong Liquidity Position
The GTCO Story Liquidity Ratio - Strong Liquidity Position Group Overview ▪ Liquidity ratio closed at 49.2% in FY-2024 up from 31.1% in FY-2023 well above the regulatory minimum Group Performance requirement of 30%. Highlights ▪ Despite the pressure from competition and the need to cover for regulat
Slide 31: Banking and Non-Banking Subsidiary Overview
The GTCO Story Banking and Non-Banking Subsidiary Overview Well-integrated banking and non-banking businesses create a diversified financial services ecosystem Millions of Naira Assets Loans Total Deposit PBT FY 2024 FY 2023 % Change FY 2024 FY 2023 % Change FY 2024 FY 2023 % Change FY 2024 FY 2023 %
Slide 32: Performance of Regional Banking Subsidiaries
The GTCO Story Performance of Regional Banking Subsidiaries Reinforcing the Group’s leadership across key African markets Group Overview ▪ 80 branches, 1 e-branch West Africa ▪ FY 2024 Gross Earnings: N467.85 bn (FY 2023: N187.97 bn) 148.9% y-o-y (ex. Nigeria) ▪ FY 2024 PBT: N232.74 bn (FY 2023: N10
Slide 33: Operating Environment
“Operating Environment
Slide 34: Global Currency Review
Global Currency Review The GTCO Story 2024 was another year of strong dollar performance, with its appreciation impacting global trade balances, financial markets, and monetary policies globally, with the U.S. Dollar Index (DXY) appreciating by approximately 7.1% over the year. In contrast, the euro
Slide 35: Global Interest Rates and Inflation Highlights
The GTCO Story Global Interest Rates and Inflation Highlights Interest Rate Inflation Group Overview Central banks took varied approaches to interest rates in 2024—while the Federal Inflation eased in the U.S. and Eurozone in 2024, with the latter falling below 2% for the Reserve and European Centra
Slide 36: Sub-Saharan Africa Interest Rates and Inflation Highlights
The GTCO Story Sub-Saharan Africa Interest Rates and Inflation Highlights Interest Rate Inflation Sub-Saharan Africa’s central banks maintained high interest rates Elevated inflation, driven by currency depreciation and persistent food price Group Overview in 2024 to curb inflation and support curre
Slide 37: Nigeria Macroeconomic Review
Nigeria Macroeconomic Review The GTCO Story The decline in crude oil prices and slow growth in production continued to impact Nigeria’s foreign The Central Bank of Nigeria's monetary tightening led to higher Treasury Bill rates, with the exchange reserves in 2024. Tight monetary policies and improve
Slide 38: Nigeria Regulatory Environment - Monetary & Fiscal Policy Review
The GTCO Story Nigeria Regulatory Environment - Monetary & Fiscal Policy Review Implication/Action taken Group Overview In 2024 FYE, we’ve prudently ▪ FGN moves to amend The Finance provided for all our forbearance Implication/Action taken Act 2023 to introduce a one-off loans, whilst fully accruing
Slide 39: World Economy Outlook
The GTCO Story World Economy Outlook Global Sub-Saharan West Africa East Africa Africa Group Overview Group Performance Highlights Global growth is projected at 3.3% in Sub-Saharan Africa’s economy is Sub-Saharan Africa’s economy is Growth in East Africa is projected 2025, slightly below the histori
Slide 40: Business Areas Review
& Business Areas Review
Slide 41: Banking
Banking
Slide 42: Strengthening the Core Banking Franchise
The GTCO Story Strengthening the Core Banking Franchise. Group Overview Proudly African, Connected Truly International Diversified Scale Group Performance Highlights Environment Operating Enhancing digital Integrating Business Areas Obsessive Low cost operator Regulatory Review commitment to with ro
Slide 43: Everything we do is anchored on creating GREAT EXPERIENCES
The GTCO Story Everything we do is anchored on creating GREAT EXPERIENCES for our customers. Grow Exponentially Deepen Engage Group Overview Drive Customer Acquisition Digitally active customers (mm) Dynamic customer segmentation to Group Performance facilitate active engagement Highlights Wholesale
Slide 44: We continue to deliver strong performance across key metrics
The GTCO Story We continue to deliver strong performance across key metrics Group Overview Deposits, Loans, and PBT Growth (₦’Bn) Operational Efficiency FY 2024 : 24.2% Group Performance CIR = Highlights FY 2023 : 29.2% FY 2024 : 10.6% ROAA = Environment Operating FY 2023 : 7.7% FY 2024 : 60.4% ROAE =
Slide 45: Business Segments Review
Business Segments Review The GTCO Story Combining a dominant retail banking franchise with a formidable presence in corporate, SME, and commercial banking. Segment Performance Group Overview Wholesale & Corporate Banking: Large corporates, multinationals, major energy, telecoms, and 21.3% N2,109.8 b
Slide 46: Digital Banking Review - Active Users
The GTCO Story Digital Banking Review - Active Users Group Overview 6% 6m 7.5m 8.0m 11% Group Performance Highlights 12.5% 5.3m 2.7m 32% 2.4m Environment 214k Operating 15% 162k 122k 106k Business Areas Review Non-Financial Highlights GTWorld Bank 737 GAPS/GAPS Lite Naira Cards Dollar Cards Guidance
Slide 47: Strategies to Retain Market Dominance and Grow Market Share
The GTCO Story Strategies to Retain Market Dominance and Grow Market Share Group Overview Group Performance Highlights Leverage Continued focus on Aggressive deposit growth Environment data-analytics for Strategic branch Operating exceptional Vestibulum Vestibulum customer congue congue while mainta
Slide 48: Fund Managers
Fund Managers
Slide 49: We serve a breadth of clients across multi-asset class portfolios
The GTCO Story We serve a breadth of clients, providing access to a wide range of multi-asset class portfolios. Proudly African, Group Overview Connected Diversified Scale Truly International Group Performance Highlights Environment Operating Unlock and leverage Deliver at scale and Ongoing technolog
Slide 50: Financial Highlights - Sustained Triple-Digit Year-on-Year Growth
The GTCO Story Financial Highlights - Sustained Triple-Digit Year-on-Year Growth y-o-y In thousands of Nigerian Naira Dec-24 Dec-23 change Group Overview (%) Income Statement Net interest income 9,202,323 2,319,735 296.7% 311.4% Expected credit loss (428,992) (282,164) 52.0% Group Performance Net fe
Slide 51: AUM Growth Trend and Composition
Operating Group Performance Group Overview The GTCO Story Guidance & Plans Non-Financial Business Areas Environment Highlights for 2025 Highlights Review 28.1 2227.4% 379.9 AUM Growth y-o-y (₦’Bn) 72.1% 654.0 Financial Highlights - AUM Growth Trend and Composition AUM Composition 51
Slide 52: Pension
Pension
Slide 53: Your Proudly Nigerian Pension Manager
The GTCO Story Your Proudly Nigerian Pension Manager offering new and innovative ways to plan for your future Proudly African, Group Overview Connected Diversified Scale Truly International Group Performance Highlights Environment Operating Unlock and leverage Gain market share Ongoing technology Busi
Slide 54: Financial Highlights - Creating Sustainable Value
The GTCO Story Financial Highlights - Creating Sustainable Value With a Focus on Transparent Funds Management Operating Income (₦’Mn) PBT (₦’Mn) y-o-y Group Overview In thousands of Nigerian Naira Dec-24 Dec-23 change (%) Income Statement Net interest income 2,302,977 1,424,309 61.7% Group Performan
Slide 55: AUM Growth Trend and Composition
Operating Group Performance Group Overview The GTCO Story Guidance & Plans Non-Financial Business Areas Environment Highlights for 2025 Highlights Review 48.8 80.4 111.7% 28.4% AUM Growth y-o-y (₦’Bn) 103.3 Financial Highlights - AUM Growth Trend and Composition FY 2023: 58% : 42% AUM Composition 55
Slide 56: Payment Fintech
Payment Fintech
Slide 57: Building Best-in-Class Payment Solutions That Help Businesses Grow
The GTCO Story Building Best-in-Class Payment Solutions That Help Businesses Grow s Sw ice Group Overview itc - Airtime and SMS v hi - Cards (POS/Web/ATM) er ng - Biller API dS Se - Transfers de rv - Short code services (USSD) e Ad ice lu s Va Group Performance Highlights Onl Environment Operating -
Slide 58: Financial Highlights - Strong EBITDA and PBT performance
The GTCO Story Financial Highlights - Strong EBITDA and PBT performance y-o-y In thousands of Nigerian Naira Dec-24 Dec-23 change 4,343,109 4,219,173 (%) Group Overview Income Statement 70.5% 80.1% Revenue: merchant acquiring 894,032 154,983 476.9% Revenue: switching 1,479,261 852,642 73.5% 2,546,68
Slide 59: Revenue Growth and Improved Mix
Operating Group Performance Group Overview The GTCO Story Guidance & Plans Non-Financial Business Areas Environment Highlights for 2025 Highlights Review Revenue Growth (₦’000) 35.7% Financial Highlights - Revenue Growth and Improved Mix Revenue Mix (₦’000) 59
Slide 60: Merchant Acquisition and TPV trend
The GTCO Story Merchant Acquisition and TPV trend Sustained momentum across all metrics Group Overview TPV Growth TPV by Currency 27,376,628 2,590 Group Performance Highlights 2,353 12,146 Environment Operating Switching and Processing ₦’Bn International Payments $’000 Gateway & Switching ₦’Bn Inter
Slide 61: Non-Financial Highlights
The GTCO Story Non-Financial Highlights 7.6mm+ Active Cards 40+ million 24,234+ 2.6mm+ Group Overview Active Users Active POS Terminals Comprehensive Digital All New GTWorld Expanding Branch Network Growing Customer Base Solutions Group Performance #1 335,555 Highlights Shareholders 3544 Kobo EPS Mo
Slide 62: FY 2025 Guidance
The GTCO Story FY 2025 Guidance FY 2023 FY 2024 FY 2025 Guidance* Group Overview PBT N609.3 bn N1,266.2 bn - Deposit Growth 64.0% 37.8% - Loan Growth 32.0% 12.3% - Group Performance Coverage (with Reg. Risk Reserve) 191.10% 138.7% - Highlights Cost of Risk 4.5% 4.94% - NPL to Total Loans 4.20% 5.18%
Slide 63: Disclaimer
Disclaimer This presentation is based on Guaranty Trust Holding Company Plc (“GTCO” or the “Group”)’s audited consolidated financial results for the period ended December 31, 2024, prepared in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Account
Slide 64: Thank You
a . Thank You EUROMONEY EURUMUNEY ‘AWARDS FOR EXCELLENCE
Guaranty Trust Holding Company — FY2024 Earnings Presentation on 6ix