Key financial highlights:

• Interest income grew by 17.5% year-on-year.
• Fee income increased by 7.1% compared to Q1 2025.
• The loan book rose by 1.3%, reaching N3.17 trillion.
• Deposit liabilities expanded by 6.3%, totaling N13.69 trillion.
• Total assets amounted to N18.7 trillion.
• Shareholders’ funds closed at N3.6 trillion.
• The Capital Adequacy Ratio remained robust at 39.5%.

This impressive performance stems from various strategic initiatives within GTCO’s banking operations. The company has focused on improving its asset quality, as evidenced by the decline in IFRS 9 Stage 3 loans to 4.4% from 5.0% in December 2025. Additionally, the cost of risk showed significant improvement, dropping to 0.2% from a concerning 2.2% just months prior.

Mr. Segun Agbaje, the CEO of GTCO, emphasized that these results mark a defining shift in the quality and composition of their earnings. He stated, “We delivered solid growth across our core income lines, supported by disciplined execution and a well-diversified, strong, and healthy balance sheet.” This statement underscores the company’s commitment to sustainable growth.

But what does this mean for the future? Agbaje mentioned that GTCO sees significant headroom across payments, wealth management, and banking sectors not just in Nigeria but also across West and East Africa. The focus will remain on deepening customer relationships and leveraging technology to provide intuitive financial solutions.

This proactive approach positions GTCO favorably within an evolving financial landscape, yet uncertainties remain regarding how external economic factors might impact these growth trajectories moving forward.

Сообщение Gtco: How did achieve a notable profit increase in Q1 2026? появились сначала на naijanewsreporters.

In the parallel market, the Dollar is trading significantly higher, between N1,465 and N1,490. This persistent gap between the official and informal markets has raised concerns among market analysts, who note that it may impact the overall economic stability.

The performance of the Naira is heavily influenced by foreign capital inflows and the strength of the United States Dollar. As the Naira’s value fluctuates, it directly affects the cost of essential imports, contributing to inflationary pressures in Nigeria.

As of 7:00 AM WAT on April 14, trading activity remains steady, indicating a cautious optimism among traders and investors. H2NorthEast has also submitted a bid into the East Coast Cluster via a Memorandum of Understanding with NGN, which may further influence market dynamics.

Officials and observers are closely monitoring the situation, as the stability of the exchange rate is crucial for Nigeria’s economic health. They anticipate that continued foreign investment and a stable Dollar could lead to further improvements in the Naira’s value.

Details remain unconfirmed regarding any potential government interventions to address the widening gap between the official and parallel market rates. However, the ongoing discussions among financial authorities suggest that measures may be considered to stabilize the currency in the coming weeks.

Сообщение Ngn: What is the Current Exchange Rate of the Nigerian Naira ()? появились сначала на naijanewsreporters.