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Home   >   Market - Finance   >   Earnings   >   GTBank Net Income Swells to N 19.3 Billion in Q1, 2012 Earnings

GTBank Net Income Swells to N 19.3 Billion in Q1, 2012 Earnings

By on April 20, 2012

GTBank, one of the country’s finest lending institutions, recently released its earnings report for the first quarter of 2012.

The company recorded gross earnings of N 52 billion, up 22% from N 43 billion made in Q1, 2011.

Interest income also grew 45% to N 40 billion from N 28 billion in Q1, 2011.

Profit before tax grew 35.7% to N 24.3 billion from N 17.9 billion over the same period in the preceding year.

Net Income was up 34.8% to N 19 billion from N 14 billion in Q1, 2011.

The company increased its investments in fixed assets by 12.7% to N 58 billion from N 51 billion in Q1, 2011.

Also its loan book also grew 5% to N 741 billion from N 707 billion over the same period in the preceding year.