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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

 

April 21st, 2014

 

Successful entrepreneurs have concluded that online presence is integral in the development of Small and Medium scale Enterprises (SMEs) in the world and it is on this premise that there have been campaigns for SME owners in the developing world such as Nigeria, take advantage of technology to advance their businesses.

 

This, perhaps, explains Guaranty Trust Bank’s introduction of the SME MarketHub, which seeks to accelerate business growth by encouraging entrepreneurs in Nigeria to connect, buy and sell on its free service portal.

 

There is, however, a limited window of opportunity for those looking to use the portal, as plans are underway to charge a fee for the usage of the Markethub in the future, although how that will work was not disclosed to Entrepreneurship.

 

GTBank believes strongly that one of the key avenues for business growth is embracing digital technology, and it is important to the bank that their customers possess all the necessary tools to gain success in any field.” The SME MarketHub “offers the resources entrepreneurs need to grow their businesses, while also providing the tools to trade online and gain visibility across the global market.”

 

The customers on the Markethub, enjoy access to a unique MarketHub website address, a personalised online storefront, a shopping cart with no consignment fees, online payment gateway, inventory management tools, messaging services and membership within the MarketHub directory, among others.

 

However, to gain access to the bank’s SME MarketHub, which business owners need to promote their businesses to an audience size of over several millions, according to the source, such business owner has to be a customer of GTBank.

 

The MarketHub, the source said, is opened to new and existing customers, who operate a corporate account in the bank. The process of opening a corporate account, according to the source, includes provision of all documents that support the validity of a registered business, among others.

 

“The SME MarketHub is targeted at helping our customers to promote their business online to an audience of customers, buy and sell a wide range of products online and our global directory allows individuals to search and find businesses with ease and convenience".

 

 

Source: www.tribune.com.ng

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