Guaranty Trust Holding Company (GTCO) AGM 2026 summary

Opening remarks and agenda

• The meeting welcomed shareholders, regulators, auditors, and consultants, and confirmed compliance with statutory requirements for registers and attendance.

• The agenda included receiving audited financial statements, declaring dividends, electing/re-electing directors, authorizing auditor remuneration, disclosing manager remuneration, electing audit committee members, and approving related party transaction mandates.

Financial performance review

• Gross earnings grew marginally by 0.09% to NGN 2.15 trillion, with interest income up 3.26% to NGN 1.653 trillion.

• Profit after tax declined by 14.4% to NGN 885.7 billion, mainly due to higher funding costs and increased tax obligations.

• The quality of earnings improved, enabling a record dividend payout despite lower profit after tax.

• AMCON expenses rose to NGN 50.8 billion, reflecting asset growth.

Board and executive committee updates

• New Independent Non-Executive Directors, Mr. Babatunde Soyoye and Mrs. Marie Namias, were elected, and existing directors, including the Chairman and Mrs. Catherine Echeozo, were re-elected.

• The Board's structure, mandate, and performance were reviewed and found compliant with governance codes.