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GTBank Releases 2017 Half Year Audited Results... Reports Profit before Tax of ₦101.1Billion

GTBank Releases 2017 Half Year Audited Results... Reports Profit before Tax of ₦101.1Billion

Lagos, Nigeria – August, 2017 Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2017 to the Nigerian and London Stock Exchanges. A review of the half year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported in the June 2016; driven primarily by growth in investment securities income as well as income from risk assets. Profit before tax stood at ₦101.1billion, representing a growth of 18% over ₦85.69billion recorded in the corresponding period of June 2016.The Bank’s loan book dipped by 6% from ₦1.590trillion recorded as at December 2016 to ₦1.491trillion in June 2017 and customer deposits decreased by 1% to ₦1.966trillion from ₦1.986trillion in December 2016. The Bank closed the half year ended June 2017 with Total Assets and Contingents of ₦3.75trillion... Read More

GTBank strategizes to boost its retail business in Kumasi.

8th January, 2014

 

Guaranty Trust Bank Ghana would be opening four additional branches in Kumasi in the course of 2014, five years after venturing the local market.

The bank has over the period run on a single regional branch and expects the expansion to ease customers’ access to products and services.

Two of the networks would be located in the central business district of Adum, whilst the other two will be at Alabar and Suame.

Henry Obimpeh, Branch Head of GTBank in Kumasi, describes the five years of the bank’s operation in the Ashanti region as good and impressive.

He tells Luv Biz the expansion drive is a result of growth in business and change in operational strategy.

“Initially we were doing commercial banking purely but now we realize that the retail market is also booming and for that matter we need to take advantage of that and serve our retail customers,” he said.

The first two branches should be up by this first quarter of the year.

According to Mr. Obimpeh, the Bank will leverage on its electronic-based products to satisfy customer needs in 2014.

He noted that other products, like the ‘Senior Account’ for pensioners are being introduced to drive the business.

 

Source: www.modernghana.com

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