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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 11th, 2014

 

Guaranty Trust Bank plc has disclosed that it will embark on a strategy that will enhance its deposit base, following the monetary tightening policy of the Central Bank of Nigeria, (CBN) in order to deliver superior returns to shareholders. It also announced that its total assets has hit N2.10 trillion for the financial year ended December 31, 2013.

 

The Group Managing Director of the Bank, Mr. Segun Agbaje, who disclosed this to newsmen ahead of its 24th Annual General Meeting in Lagos , said the Bank will consolidate on its gains and also re-strategise to drive more deposits that will help build a proudly African and truly international brand.

 

According to him, 2013, despite its challenges was “’a successful operating period for our bank and I am confident that 2014 will be no different because we shall continue to work hard to ensure our long term goals are actualised.’’

 

He also said that the insecurity presently being experienced in some states in the Northern part of the country has not adversely affected their operations in those states.

 

Agbaje said due to the activities of the Boko Haram sect, money that people would normally keep at home and in their offices are now lodge in the banks. “The crisis in the North has not adversely affected our operations. Though we may have to shut our banking hall for few hours or few days, we have not actually close down any branch in the North.

 

“Rather most of the funds that people would ordinarily keep at home or in their offices are now lodge in the banks,” he said.

 

 

Source: www.leadership.ng

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