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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

 

March 13th, 2014

 

All is set for this year’s GTBank, Lagos State Principals Cup competition, as the draw to usher in hostilities took place in Lagos Thursday, at the press center of Teslim Balogun Stadium, Surulere, Lagos.

 

The competition, which is geared towards the development of football, discovering young talents as well as fostering love and unity amongst secondary school students, was witnessed by top GTBank staff, school principals and top officials from the Lagos Football Association.

 

According to Mrs. Lola Odedina from GTBank, the aim of the tournament is to sought out exceptional talents that would become football stars and worthy ambassadors within and outside Nigeria.

 

“The principal cup goes beyond football, it’s also veritable means to mentor youths and also encourage them to pursue their dreams.” she said.

 

“The journey so far has been remarkable and we greatly thank the Lagos state Government for the opportunity granted us to partner with them with the aim of bringing back the glory days of the principals cup.”

 

“As it is practiced, yearly participating schools will be provided with standard sporting facilities and the winner will have their school sports facilities up graded to standard and we have also put in place a developmental programme known as “CAMP GTBANK” which will see outstanding players selected and trained by veteran football coaches and it will commence immediately after the finals.” she concluded.

 

“The male and female team that win the competition will smile home with a prize of N1million while the first, second and third runners up will receive N750,000, N500,000 and N250,000 respectively.”

 

However, Chairman of Lagos State Football Association Mr. Seyi Akinwunmi also said this year’s edition will be a great one because machineries have been put in place for a befitting and cheat free tournament

 

 

Source: www.sportsdayonline.com

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