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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

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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