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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

WestBlue, GTBank Partner up in the collection of IDF Fee

September 5th, 2016

WestBlue Consulting has adopted Guaranty Trust Bank’s safe, strong and robust payments and collections channels; viz; GTPay, GTCollect and Bank *737# to provide payments for Import Declaration Forms (IDF) from clearing agents and importers.

The partnership with Guaranty Trust Bank (Ghana) Limited is aimed at offering clearing agents and importers additional convenient channels for the payments of fees for IDFs.

WestBlue Consulting is the IT Consulting and Technology firm contracted by the Government of Ghana to implement the National Single Window Platform.

The modalities for each of the channels are;

For Online Payments, Clearing agents and importers wishing to pay online have the convenient option of paying for their IDFs by visiting the Ghana’s Trading Hub Portal www.ghanastradinghub.gov.gh and identify the payment icon. They can thereafter use their MasterCard or Visa debit card issued by any bank to make the payment.

Alternatively, those opting to pay offline can visit any GTBank branch nationwide and request to make an IDF payment at the teller point via the bank’s reliable GTCollect platform.

More conveniently, IDF payments could also be made via GTBank’s USSD mobile banking service by dialing the short code *737#, selecting the Pay IDF option and following the simple payment steps thereafter.

In all the instances described above, the customer would be required to provide depositor’s name, contact number, National Single Window account/wallet to which payment should be made and amount to be deposited.

After payment has been processed, the customer would receive a transaction receipt with a unique reference number which they can use to confirm payment and complete transaction on Ghana’s Trading Hub Portal www.ghanastradinghub.gov.gh.

IDF and the National Single Window Concept

The Government of Ghana, in 2011, introduced an electronic Import Declaration form to streamline import management process and facilitate the speedy clearance of goods through customs, while improving record keeping.

The National Single Window concept developed by the United Nations Economic Commission for Europe in 2005 is an effort to harmonize and standardize international trade procedures and associated information flow between traders and government.

The concept is designed as a single entry point that allows traders, trade and regulatory agencies and other stakeholders to lodge standardized information and documents to fulfill all import, export and transit-related regulatory requirements.

Chief Executive Officer of WestBlue Consulting, Ms. Valentina Mintah said the decision to adopt GTBank’s multiple channels was borne out of a desire to provide the most convenient and reliable payments and collections platform to enable importers pay for their IDFs.

“GTBank, like WestBlue, is a force to reckon with when it comes to technology and innovations. The bank has carved a niche as having the most trusted and convenient channels when it comes to electronic banking, thereby making it an easy choice for us since their channels are exactly what we need to make collections for IDFs.”

The GTPay channel offered by GTBank offers secure, efficient and cost-effective means of making payments to and collecting payments by all service providers or online shops. It is hence an ideal payments and recommended collections platform for hotels, schools, churches, airlines, travel agencies and online supermarkets. Once deployed for an institution, anyone with access to internet connectivity and MasterCard or Visa card can pay fees and other charges to the institution without having to physically visit the institution.

Commenting on the deployment, Managing Director of Guaranty Trust Bank (Ghana) Limited, Mr. Lekan Sanusi said it is a pleasure to have WestBlue Consulting aboard our platforms.


“GTBank believes in the application of technology to create convenience for our customers and non-customers, hence our relentless work in birthing channels that offer ease and convenience to partners and customers.”

Mr. Sanusi further stated that, “We know WestBlue is a strong institution when it comes to IT and delivering innovative solutions and so for them to adopt our platforms is a further endorsement of GTBank’s superiority in ebanking.”

GTBank has also partnered with several other institutions in the country to offer alternative convenient payments and collections for their customers. These institutions include Databank, Wakanow.Com, Med-View Airlines, British Airways/Iberia, Hull Blyth, American Airlines and Dana Air.


Source: www.newsghana.com

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