A Review of the Nigerian Energy Industry

GTBank attributes ‘impressive’ result to handwork, customers support

Guaranty-Trust-Bank-Plc02 November 2013, Lagos – Guaranty Trust Bank, GTbank, says its latest result that saw it posting N181.96 billion gross earning and N69.24 billion profit after tax was due to the support of its teeming customers, hard work and strong corporate governance policy.

Managing Director and chief executive officer of the bank, Mr Segun Agbaje, who disclosed this said the company aims this year to ensure excellent customer service delivery and bring value addition to its stakeholders.

He added: “It is the bank’s belief that success on these fronts would enable it deepen its share of market across all sectors and improve profitability, despite today’s extremely challenging business environment”.

The results for the company released by the Nigerian Stock Exchange for the first nine months of this year showed gross earning of N181.96 billion compared to N166.48 billion earned over the same period last year.

Profit before tax stood at N82.36 billion for the period, up 7.12 per cent over January to September figure of N76.89 billion for 2012 while profit after tax standing at N69.24 billion indicated nearly N6 billion increase over N63.734 billion achieved same period last year.

Based on the result, GTBank’s total assets stood at N1.875 trillion, compared to the N1.73 trillion as at December 2012. The bank also saw growth in its customers’ deposit in the period under review from N1.14 trillion as at December 2012 to N1.271 trillion while earnings per share increased from N2.25 to N2.44.

In this article

Join the Conversation