Guaranty Trust Holding Company Plc (GTCO), Access Holdings Plc and three other big banks in Nigeria declared 21 per cent drop in profit before tax to N2.29 trillion in half year ended June 30, 2025.
The five biig banks in half year ended June 30, 2024 in their audited / unadutiied resuit and accounts decalred N2.89 trillion, according to data collected by WESTERNPOST.
The three other banks are : Zenith Bank Plc, United Bank for Africa Plc and First Holdco Plc.
GTCO suffered the highest decline in profit before tax followed by Zenith Bank. GTCO announced N600.9 billion PBT in H1 2025, about 40.1 per cent decline from N1 trillion posted in H1 2024, while Zenith Bank announced N625.63billion PBT in H1 2025, a drop of 13.9 per cent from N727.03billion reported in H1 2024.
First Holdco in H1 2025 reported N356.15billion PBT , representing a decline of nearly 14 per cent from N411.99 billiion reported in H1 2024.
In addition, as UBA declared N388.4billion PBT in H1 2025, about 3.3 per cent from N401.6billion ini H1 2024, Access Holdings posted N320.57billion PBT in H1 2025, a decline of 8.1 per cent from N348.9billion in H1 2024. .
These banks were faced increase in operating expenses, loan impariment charges and interest exxpenses on loans & advances to customers amid high yield environment.
The Group Managing Director/CEO, Zenith Bank, Dame Dr. Adaora Umeoji, in a statement said, “Our H1 2025 performance reaffirms the strength and resilience of the Zenith brand.
“In the face of elevated provisioning due to the industry‑wide wind‑down of the CBN forbearance regime, our total asset quality has recorded a marked improvement while our balance sheet remains strong, liquid and well positioned to capture emerging opportunities across our core markets”.
“The Group’s profit before tax stood at N626 billion in H1 2025 as against N727 billion in H1 2024. Profit after tax also moderated to N532 billion in the same period, despite the impact of the substantial loan provisioning required for a one‑off write‑off of forbearance loans. Earnings per share (EPS) came in at N12.95 in the period under review.”
Related