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GTBank Fashion Weekend Set to Showcase “Africa’s Finest” This November

GTBank Fashion Weekend Set to Showcase “Africa’s Finest” This November

Lagos, Nigeria - September, 2017Fashion lovers all over the world can once again look forward to an unparalleled fashion experience as the 2nd edition of the GTBank Fashion weekend is set to hold on the 11th and 12th of November, 2017. The 2-day event will treat attendees to an enthralling journey across a wide variety of Africa’s finest styles and trends whilst offering small businesses in the Nigerian Fashion Industry a free and vibrant platform to connect with a wider segment of their consumers as well as experts in their industry. The GTBank Fashion weekend is a free business platform that was created by foremost African Financial Institution, Guaranty Trust Bank plc, as part of its efforts to showcase the best of Africa’s Fashion to a global audience whilst promoting the effervescent enterprise of the continent’s growing fashion industry. The 2016 debut of the consumer-focused event received very positive reviews... Read More

GTBank Releases 2016 Q3 Unaudited Results… Reports Profit Before Tax of N140.84Billion

Lagos, Nigeria – October, 2016

Guaranty Trust Bank plc has released its unaudited financial results for the 3rd quarter ended September 30, 2016, to the Nigerian and London Stock Exchanges.

A review of the 3rd quarter performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 44% to N329.3billion from N229.4billion reported in the corresponding period of September 2015; driven by growth in fee & commission income as well as foreign exchange income. Profit before tax stood at N140.84billion, representing a growth of 53% from N92.06billion recorded in the corresponding period of September 2015.The Bank’s loan book grew by 19.6% from N1.372trillion recorded in December 2015 to N1.640trillion in September 2016.

The Bank closed the third quarter ended September 2016 with Total Assets of N3.093trillion and Shareholders’ Funds of N483.4billion. The Bank’s non-performing loans remained low at 4.13%. On the backdrop of this result, Return on Equity (ROE) and Return on Assets (ROA) stood at 35.31% and 5.69% respectively.

Commenting on the Bank’s financial results, Segun Agbaje, the Managing Director/CEO said that “The Bank’s strong performance is a reflection of the continued support of our customers, hard work of our Staff and the commitment of the Management and Board to manage the Bank for long term sustainable returns. Recognizing that we operate in challenging business environments, we set high goals, benchmark ourselves against global standards and aggressively pursue our key objectives for the year, which are focused mainly on adding value to all stakeholders and improving the customer journey.

He further stated that “As a Bank, we will continue to leverage collaborations and technology to drive customer engagement, improve the overall customer experience and grow our business for long term sustainable returns.”

Guaranty Trust Bank has continued to report the best financial ratios for a Financial Institution in the industry with a return on equity (ROE) of 35.31% and a cost to income ratio of 36.20% evidencing the efficient management of the banks’ assets. Overall, the Bank has enshrined its position as a clear leader in the industry. In due recognition of the Bank’s leading role in Africa’s banking industry, owing to its bias for world class corporate governance standards and excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the course of the year. They include Best Banking Group from World Finance Magazine, Most Innovative African Bank from African Banker Magazine, Best Bank in Nigeria and Best Digital Bank in Africa from Euromoney Magazine.

 

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