G
Foremost African Banking Group, Guaranty Trust Bank plc has
announced its audited financial results for the year ended December 31, 2013 to
the Nigerian and London Stock Exchanges. A review of the results shows a strong
and positive performance across all financial indices and also affirms the Bank’s
position as one of the most profitable financial services provider in Nigeria.
In terms of value creation, GTBank maintained its top position in the industry with
pre-tax Return of Equity (ROE) of 34.9% and pre-tax Return on Asset (ROA) of
5.6%.
A glance through the numbers reveals an impressive 28.6% growth in
loan book from ₦783.91bn in 2012 to ₦1.01tn in 2013 while customer’s deposits grew by a remarkable
24.3% from ₦1.15tn in 2012 to ₦1.43tn in 2013. Consequently, the group closed the 2013 financial
year with a balance sheet size in excess of ₦2tn while shareholders’
equity increased by 17.9% from ₦281.83bn in 2012 to ₦332.35bn in the period under review. Risk management framework in
the bank remains very strong as Non-Performing Loans (NPL) ratio decreased to
3.58% in 2013 from 3.75% in the comparative period of 2012.
Commenting
on the results, Mr. Segun Agbaje, Managing Director and CEO of Guaranty Trust
Bank plc
stated that “As
a growing franchise and inspite of the regulatory
headwinds, our Bank has posted respectable results that reaffirm our reputation
as a market leader and a highly ethical financial institution. We have maintained
our cost-leadership position as typified by the cost-to-income ratio (2013:
43.5%; 2012:43.1%) among peers year-on-year.
He further stated that “with
this performance, we will maintain our commitment to maximizing shareholder value
with a proposed dividend pay-out of ₦1.70 per share, an
increase of 10% over the ₦1.55 paid in 2012 and a share price appreciation of 17% in 2013. Our
acquisition of Fina Bank Limited, a Kenyan bank with significant business
footprint in Rwanda and Uganda gives us the opportunity to commence business in
three East African countries via the acquisition of one bank. This will give us
great mileage and an opportunity to leverage our brand equity. We hope to
further tap into the growth potentials of emerging African economies thus
bringing us closer to our philosophy of being ‘A proudly African and truly
international’ financial brand”.
Guaranty Trust Bank plc has experienced tremendous growth since its
inception in Nigeria in 1990 and presently has growing operations in Cote
d’Ivoire, Gambia, Ghana, Liberia, Sierra Leone, Rwanda, Uganda, Kenya and the
United Kingdom due to its ability to exhibit an in-depth understanding of these
markets.
Fun, excitement and display of talents are some features football
lovers can look forward to as Guaranty Trust Bank plc has announced that the
District finals draw of the prestigious GTBank- Lagos State Principals Cup
competition will take place on Thursday, 13th March, 2014. The
GTBank sponsored tournament is geared towards the development of grassroots
football, the discovery of young football talents and fostering camaraderie
amongst secondary school students.
The preliminary stage of the tournament kicked off with about 300
Schools from the 20 Education Zones of Lagos state after which they will proceed
to the District Finals where 24 Male & 20 Female teams will be placed into
4 groups of 6 teams in the male category and 4 groups of 5 teams in the female
category before proceeding to the state preliminaries.
The ultimate prize of N1million will be won by the winning male
and female teams while the first, second and third runners up will receive
N750,000, N500,000 and N250,000 respectively. Guaranty Trust Bank provides the
sporting equipment such as balls, goal post nets and corner flags throughout
the duration of the competition.
Commenting on the tournament, Managing Director of Guaranty Trust
Bank plc; Mr. Segun Agbaje reiterated the Bank’s support towards the
development of grassroots football in Lagos State. In his words, “At GTBank, we
believe in the power of sports and for the fifth year running, we are proud to
demonstrate our support for the game of football in the country. We would not
relent in supporting sports competitions that Nigerians are passionate about. This tournament has over the years helped
these students work towards their dream of being world class footballers, it
has helped them grow in personal confidence, become better team players and
some of them are already making a career out of football”.
Guaranty Trust Bank plc is one of the few Nigerian financial
institutions that have maintained a defined Corporate Social Responsibility
(CSR) strategy since its inception in 1990. The Bank actively supports numerous
programmes across Africa that positively affect Infant and Maternal Healthcare,
Education, the Art, Community Development and the Environment
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