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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 Posts N91bn Profit, Declares 25kobo Interim Dividend

Lagos, Nigeria - August, 2016

Guaranty Trust Bank Plc yesterday reported its audited financial results for the half year (H1) ended June 30, 2016, showing positive growth across performance indicators.

Gross earnings rose by 37 per cent to N209billion from N153billion in 2015, driven primarily by growth in fee and commission income as well as foreign exchange income.


Net interest income fell marginally from N80.1billion to N79.1billion, while impairment charges surged by 530 per cent from N6.0billion to N37.5billion. However, non-interest income improved by 160 per cent from N38billion to N91.4billion in 2016. Non-interest income was the major catalyst for the upsurge in earnings, after benefiting from foreign exchange revaluation gains.

Consequently, profit before tax rose by 45 per cent to N91.38billion, up from N63.1billion in 2015.


The bank’s loan book grew by 14 per cent from N1.373 trillion recorded as at December 2015 to N1.562trillion in June 2016 with corresponding growth in total deposits which increased by 23 per cent to N2.008trillion from N1.637trillion in December 2015. The bank is proposing interim dividend of 25 kobo per unit of ordinary share held by shareholders.

Further analysis revealed that the bank closed the half year with total assets and contingents of N3.42trillion and shareholders’ funds of N453billion, while non-performing loans remained low and within regulatory threshold at 4.39 per cent and with capital adequacy ratio (CAR) of 18.25 per cent.

Commenting on the results, the Managing Director/Chief Executive Officer of GTBank Segun Agbaje, said: “Going into the year, we knew it would be a challenging year and we prepared for it by focusing on effective management of the balance sheet and adapting our business model to changing market variables. The quality of our past decisions enabled us navigate the challenges that persisted in the business environment most of the half year period.”

 

While expressing appreciation to customers for their loyalty, and to staff for their hard work and commitment, Agbaje noted that the current economic realities present some challenges to growth.


“We remain committed to our ideals of staying positive, delivering exceptional service to our customers and adding value to all stakeholders,” he said.

Source: www.thisdaylive.com

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