GUARANTY TRUST : QUARTER 1 - FINANCIAL STATEMENT FOR 2023

Guaranty Trust Holding Company Plc.

Unaudited Consolidated and Separate Financial Statements

March 2023

Introduction

Introduction

Guaranty Trust Holding Company and Subsidiary Companies

Guaranty Trust Holding Company Plc ("the Parent" or the "Company") and its Subsidiaries (hereafter referred to as 'the Group') Consolidated Financial Statements complies with the applicable legal Requirements of the Nigerian Securities and Exchange Commission interim Financial Statements and comprises Separate and Consolidated Financial Statements of the Group for the period ended 31 March 2023. The consolidated financial statements have been prepared in accordance with IAS 34 'Interim Financial Reporting', its interpretation issued by the International Accounting Standards Board and adopted by the Financial Reporting Council of Nigeria. For better understanding, certain disclosures and some prior period figures have been presented in line with current period figures. Due to rounding, numbers presented throughout this document may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

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Introduction

Guaranty Trust Holding Company and Subsidiary Companies

Table of contents	Page
Financial Statements	1
Statement of financial position	2-3
Income statement	4
Statement of other comprehensive income	5
Consolidated statement of changes in equity	6-7
Statement of changes in equity- Company	8-9
Statement of cash-flows	10-11
Reporting entity	12
Basis of preparation	12
Significant accounting policies	13-16
Other accounting policies	16-44
Notes to the financial statements	45-82
Other Notes	83-85

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Guaranty Trust Holding Company and Subsidiary Companies

Financial statements

1

Guaranty Trust Holding Company and Subsidiary Companies

Consolidated and separate statements of financial position

As at 31 March 2023
		Group	Group	Company	Company
In thousands of Nigerian Naira	Notes	Mar-2023	Dec-2022	Mar-2023	Dec-2022
Assets
Cash and bank balances	17	1,433,679,325	1,621,101,169	-	-
Financial assets at fair value through profit or
loss	18	114,280,200	128,782,374	-	-
Derivative financial assets	19	25,985,432	33,913,351	-	-
Investment securities:
- Fair value through profit or loss	20	3,904,458	3,904,458	-	-
- Fair value through other comprehensive
income	20	522,560,288	357,704,355	-	-
- Held at amortised cost	20	956,879,459	863,421,525	-	-
Assets pledged as collateral	21	67,583,407	80,909,062	-	-
Loans and advances to banks	22	83,704	54,765	-	-
Loans and advances to customers	23	1,858,421,598	1,885,798,639	-	-
Restricted deposits and other assets	27	1,518,439,748	1,232,611,251	82,593	144,538
Investment in subsidiaries	24	-	-	162,956,560	162,956,560
Property and equipment, and Right of use
assets	25	202,804,003	197,860,484	870,010	893,924
Intangible assets	26	28,172,855	29,411,898	-	-
Deferred tax assets		7,543,380	10,983,098	-	-
Total assets		6,740,337,857	6,446,456,429	163,909,163	163,995,022
Liabilities
Deposits from banks	28	154,447,046	125,229,187	-	-
Deposits from customers	29	4,913,143,085	4,485,113,979	-	-
Financial liabilities at fair value through profit
or loss	30	12,320,818	1,830,228	-	-
Derivative financial liabilities	19	4,154,109	4,367,494	-	-
Other liabilities	31	537,951,727	724,902,202	25,567,022	26,043,503
Current income tax liabilities	20	13,644,576	35,307,860	-	-
Other borrowed funds	33	121,612,550	126,528,105	-	-
Deferred tax liabilities		7,439,448	12,028,172	-	-
Total liabilities		5,764,713,359	5,515,307,227	25,567,022	26,043,503

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