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GTBank posts N63billion profit before tax in six months

By on August 25, 2015

Guaranty Trust Bank (GTBank) Plc has reported gross earnings of N153 billion for the half year ended June 30, 2015.  The performance showed an increase of 15 per cent above theN133 billion recorded in the corresponding period of 2014. According to the audited results, GTBank  posted  before tax stood  of N63.11billion, representing a growth of 18 per cent over N53.39billion recorded in the corresponding period of 2014.The bank’s loan book grew by  two  from N1.276 trillion recorded as at December 2014 to N1.299 trillion in June 2015 and total customer deposits increased by  five  per cent to N1.71trillion from N1.618trillion in December 2014.

Also, GTBank closed the half year  with total assets and contingents of N3.04trillion and shareholders’ funds of N385 billion. The bank’s non-performing loans remained low at 3.73 per cent. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 28.1 per cent and 4.4 per cent respectively. Based on the results, the bank proposed an interim dividend of 25 kobo  per  share.

Speaking on the results, Managing Director/CEO of GTBank,  Mr. Segun Agbaje,   attributed the bank’s strong performance during a tough half year period, to the continued support of its customers, the commitment and hard work of its Staff, management and board, and strong corporate governance standards.

According to Segun Agbaje, a major objective for the bank this year is to add value to all stakeholders and improve the customer experience.

“We will continue to drive customer engagement, underpinned by a single view of the customer, and build an ecosystem that will guarantee increased customer interactions and satisfaction at every touch point,” he said.

He added that bank will continue to leverage technology and collaborations to improve customer experience and ease of interaction.

GTBank has consistently played a leading role in Africa’s banking industry. The brand   regarded as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation.

The bank’s most recent service introductions includes the GTEasySavers account, which was launched to strategically drive financial inclusion in the country by targeting low-income segments of society who do not have access to banking services by enabling mobile phone users open an account and enjoy basic banking services on their mobile phone.

 

[ThisDay]