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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

 

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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