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GTBank Releases Q1 2017 Unaudited Results... Reports Profit before Tax of ₦50.39Billion

GTBank Releases Q1 2017 Unaudited Results... Reports Profit before Tax of ₦50.39Billion

Lagos, Nigeria – April, 2017   Guaranty Trust Bank plc has released its unaudited financial results for the quarter ended March 31, 2017 to the Nigerian and London Stock Exchanges.A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria. Gross earnings for the period grew by 39% to ₦104.66billion from ₦75.39billion reported in March 2016; driven primarily by growth in interest income. Profit before tax stood at ₦50.39billion, representing a growth of 64% over ₦30.68billion recorded in the corresponding period of March 2016. The Bank’s loan to customers dipped marginally by 2% from ₦1.591trillion recorded in December 2016 to ₦1.563trillion as at March 2017. Deposit from customers grew marginally by 1% from ₦1.986trillion in December 2016 to ₦2.012trillion in March 2017. The Bank’s balance sheet remained strong with a 1.6% growth in Total Assets... Read More

Bolaji Lawal appointed GTBank Executive Director

Lagos, Nigeria – February 15, 2017

The Board of Directors of foremost African financial institution; Guaranty Trust Bank plc, has announced the appointment of Mobolaji Lawal as an Executive Director of the Bank. Prior to his appointment, he was the Divisional Head, Digital Banking Division.

 

Mr. Lawal who joined the Bank in 1992 as an Executive Trainee and rose through the ranks to become a General Manager, a position he held until his appointment as Executive Director. He has over twenty-four (24) years’ of banking experience which covers various aspects of banking including Credit Risk Management; Corporate Banking Group; Commercial Banking Group;  Investment Banking and Corporate Finance where he served as Group Head. Under his leadership, the Group worked on several landmark debt syndications, capital market and project finance transactions both in Nigeria and abroad.

 

He holds a Bachelor of Law degree from Obafemi Awolowo University (1990); B.L from the Nigerian Law School (1991) and a Master of Business Administration from the Oxford University, United Kingdom (2002). He has also attended several executive management and banking specific developmental programs in leading educational institutions such as Harvard Business School, Stanford Graduate School of Business and Institut Européen d'Administration des Affaires (INSEAD).

 

Announcing the new appointment, the Managing Director/Chief Executive Officer of the Bank, Mr. Segun Agbaje stated that: “As a Bank, we maintain high corporate governance standards and ensure our Board appointments are in line with global best practices”. He further stated, “Bolaji has been an integral part of the Bank’s success and has seen the bank evolve and develop through the years. I am confident that his appointment to the Board will further strengthen and position the bank for improved performance“.

 

Guaranty Trust Bank plc was established in 1990 and is regarded by Industry watchers as the best run and most ethical financial institution within the Nigerian Financial Services space, due to its bias for world-class corporate governance standards, excellent service quality and innovation. The Bank is one of the few Nigerian financial institutions to have a well-articulated succession plan and this has enabled it seamlessly undertake two management and several board changes since inception.

 

The Bank operates from over 238 branches within the country and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.


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