Nigeria, Oct. 27 -- Nigeria's biggest lender by market value, Guaranty Trust Holding Company Plc (GTCO) saw declining revenue and profit levels for the nine months to September, according to the group's unaudited earnings report for the period obtained on Wednesday, an indication of its struggle to arrest a pattern of waning interest income in recent times.

GTCO posted gross earnings in the sum of N318.5 billion, meaning a fall of 3.5 per cent from 2020 level, when it stood at N330 billion, according to the document posted by the Nigerian Exchange Limited.

The holdco has now reported two consecutive quarters of profit contraction and could report its first annual profit and revenue drop for the first time in at least half a decade if th...