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Agbaje attributes GTB’s strong results to customer loyalty

By on April 8, 2013

Chief Executive Officer of Guaranty Trust Bank Plc, Mr. Segun Agbaje, has attributed the strong results posted by the banks for the financial year to customer loyalty.

Speaking to a group of journalists, just days after the bank published its audited 2012 results, Agbaje stressed that no organisation in the world could be profitable if its customers did not believe and support its vision.

“There is a direct relationship between a company’s level of profitability and public perception about its brand. When people see a brand as a valued partner, they continue to do business with it, which ultimately translates to profitability. Companies on the other hand have a responsibility to ensure their customers are satisfied at all times and treated with respect. This knowledge is the base rock upon which our 2012 performance is hinged’, he said..

GTB posted profit before tax of N103bn on improved gross earnings of N221.9bn translating into a 69 per cent rise in profit after tax from N51.7bn to N87.3bn

The bank closed the 2012 financial year with an On-Balance Sheet size of N1.73trn up from N1.608trn a year ago, while total assets and contingents stood at N2.26trn, up from N2.14 trn in 2011 representing a growth of 8 per cent and 6 per cent respectively.

Additionally, the bank’s stance as an upstanding social citizen and commitment to full disclosure was evidenced by its 2012 tax liabilities, which came to over N16.3bn, while total dividend payment for the financial year is projected at N45.6bn or N1.55 per share

Agbaje confirmed that the bank would continue to introduce products and alternative channels that will allow the public to undertake their banking activities quickly, safely and conveniently.

GTB was established in 1990 and is regarded by Industry watchers as the best run financial institution within the Nigerian financial services space, due to its bias for world class corporate governance standards, excellent service quality and innovation.

The bank operates from over 200 branches within the country and has banking subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

( National Mirror )