GTBank re­ports profit be­fore tax of N92bn

Daily Trust - - BUSINESS -

Guar­anty Trust Bank Plc last Fri­day re­leased its unau­dited financial re­sults for the third quar­ter ended Septem­ber 30, 2015, to the Nige­rian and Lon­don Stock Ex­changes.

A re­view of the third quar­ter 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 N229.4 bil­lion from N199.2 bil­lion re­ported in the cor­re­spond­ing pe­riod of Septem­ber 2014, driven pri­mar­ily by growth in in­ter­est in­come. Profit be­fore tax stood at N92.06bn, rep­re­sent­ing a growth of 14 per cent from the N80.7bn recorded in the cor­re­spond­ing pe­riod of Septem­ber 2014.The bank’s loan book grew by 0.47 per cent from N1.276 tril­lion recorded in De­cem­ber 2014 to N1.281tril­lion in Septem­ber 2015.

The bank closed the third quar­ter ended Septem­ber 2015 with to­tal as­sets and con­tin­gents of N3.002trn and share­hold­ers’ funds of N400.7bn. The bank’s non­per­form­ing loans re­mained low at 3.16 per cent. On the back­drop of this re­sult, re­turn on eq­uity and re­turn on as­sets stood at 31.68 per cent and 5.10 per cent re­spec­tively.

Man­ag­ing Di­rec­tor and Chief Ex­ec­u­tive Of­fi­cer of the bank, Mr. Se­gun Ag­baje, at­trib­uted the its strong per­for­mance to the con­tin­ued sup­port of its cus­tomers, the com­mit­ment and hard work of its staff, man­age­ment and board, and the pri­or­i­ti­za­tion of strong cor­po­rate gov­er­nance stan­dards in the bank’s sys­tems and pro­ce­dures.

To Ag­baje, the ag­gres­sive pur­suit of our key ob­jec­tives for the year, which are fo­cused mainly on adding value to all stake­hold­ers and im­prov­ing cus­tomer ex­pe­ri­ence, are yield­ing pos­i­tive div­i­dends and re­flect­ing heav­ily on the bank’s per­for­mance.”

He as­sured GTBank would con­tinue to lever­age tech­nol­ogy and col­lab­o­ra­tions to im­prove on its ser­vice de­liv­ery qual­ity, stake­holder in­ter­ac­tion points and over­all cus­tomer ex­pe­ri­ence.

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