GTBank
Declares Q1 2015 PBT of N32.65 billion
MR SEGUN AGBAJE IS CEO,GT BANK PLC
Guaranty Trust Bank plc has released its unaudited financial results
for the first quarter ended March 31, 2015 to the Nigerian and London Stock
Exchanges.
A review of the Q1 2015 results shows that the Bank continued on a strong
growth trajectory, re-affirming its position as one of the most profitable and
well managed financial institutions in Nigeria.
The Bank recorded a 17%
growth in Gross Earnings to N79.02 Billion, from N67.58 Billion recorded in the
comparative period of 2014, underpinned by strong growth in interest income and
effective management of operating expenses and cost of risk. Profit Before Tax
was N32.65 Billion, an increase of
17% from N28.01 Billion reported in
Q1 2014. The Bank reported a Q1 2015 Profit After
Tax of N26.56 Billion an increase of
15% over the N23.11 Billion reported in Q1 2014.
The Bank closed Q1 2015 with Total Assets and Contingents of N3.15
Trillion, customer deposits of N1.69 Trillion
and Shareholders’ Funds of N357.59
Billion. The Bank’s non-performing loans improved to 3.06% from 3.40% in the comparative period of Q1 2014 whilst the loan book
grew by 28% to close at N1.30 Trillion in Q1 2015, from N1.02 Trillion in Q1
2014. The Bank also reported a post-tax ROAE of
29.03% and ROAA of 4.39% respectively.
Commenting on the financial
results, Segun Agbaje, the Managing Director and Chief Executive Officer of
Guaranty Trust Bank plc stated that “a
major focus for the Bank this year is to strengthen market positions with
distinctive customer propositions in chosen segments in order to deliver
long-term sustainable and efficient growth as well as strong shareholder
returns”.
As a financial institution with a bias for industry leadership,
exceptional service delivery and innovation, Guaranty Trust Bank plc has
experienced tremendous growth since its inception in Nigeria in 1990 with
business outlays spanning Anglophone and Francophone countries of West Africa,
East African and the United Kingdom. The Bank presently employs over 10,000
peoples in Cote d’Ivoire, Kenya, Gambia, Ghana, Liberia, Sierra Leone, Rwanda,
Uganda and the United Kingdom.
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