GTCO’s annual profit jumps 89% amid higher interest rate charges

Net profit at Guaranty Trust Holding Company (GTCO) accelerated by 88.6 per cent for the financial year 2024, according to its audited report released on Friday, as an elevated interest rate environment in Nigeria laid the foundation of record profit for many lenders.

Nigeria’s biggest lender by market value also announced on Friday a final dividend of N7.03 per share, taking its total dividend to N8.03 (compared to N3.20 for 2023) and its potential payout for the year to record…