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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

 

Lagos, Nigeria - November, 2015

Guaranty Trust Bank Plc has reaffirmed its position as a leading provider of e-payment gateway solutions with the recent launch of its Virtual Prepaid MasterCard.

The card, which is issued instantly via Internet banking, provides an added comfort for security conscious online shoppers who prefer not to use their regular debit/credit cards when making online payments.


The GTBank Virtual card has all the security features of a physical card and can be used to make both international and local online payments. It also serves as a fall back option for customers who have forgotten or lost their card, but need to perform urgent online purchases.


The introduction of the virtual card has bridged the gap between traditional e-wallets and bank accounts by providing a low cost alternative to physical debit cards. Customers also have the option of converting the virtual card to a physical card.

The Bank’s Managing Director / Chief Executive Officer, Segun Agbaje said: “This marks another milestone in our quest to make banking more seamless for our customers. As a bank, we remain firm on our objective to deliver value adding services that are tailored to meet the diverse needs of our ever-growing customer base by leveraging technology to make banking more convenient for all our customers.”

He further stated that “the launch of this product, attests to our commitment towards encouraging a cashless culture in our country by promoting the use of alternative payment channels for transacting both locally and internationally. Our desire to be at the frontier of banking excellence enables us to pioneer innovative products aimed at making banking more simple and attractive to the unbanked and unserved.”

 

Source: The Nationonline

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