GTBank announces Profit Before Tax of N63.11bn

Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2015 to the Nigerian and London Stock Exchanges.

 A review of the half year performance, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 15 per cent to N153billion from N133billion reported in the June 2014; driven primarily by growth in interest income. 

Profit before tax stood at N63.11billion, representing a growth of 18per cent over N53.39billion recorded in the corresponding period of June 2014.

The Bank’s loan book grew by two per cent from N1.276trillion recorded as at December 2014 to N1.299trillion in June 2015 and total customer deposits increased by five per cent to N1.71trillion from N1.618trillion in December 2014.

The Bank closed the half year ended June 2015 with Total Assets and Contingents of N3.04trillion and Shareholders’ Funds of N385Billion. The Bank’s non-performing loans remained low at 3.73per cent.

On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 28.1% and 4.4 per cent respectively. The Bank is proposing interim dividend of N0.25k per ordinary share of 50 kobo each for period ended June 30, 2015.

The Managing Director/CEO of Guaranty Trust Bank plc, 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 further stated that the Bank will continue to leverage technology and collaborations to improve customer experience and ease of interaction.