A Review of the Nigerian Energy Industry

Nigeria: Gtbank declares N116.4bn profit before tax

GTBank Plc
GTBank Plc

*Offers N1.50 dividend

06 March 2015, Lagos – Guaranty Trust Bank plc has announced its audited financial results for the year ended December 31, 2014, recording a profit before tax that gained nearly nine per cent from N107.09 billion in 2013 to N116.4 billion recorded in the year under review.

The results which was posted on the Nigerian Stock Exchange (NSE) official website, showed positive performance across all financial indices to affirm the financial institution position as one of the most profitable bank in Nigeria.

Profit after tax also gained nearly 10 per cent from N90 billion to N98.68 billion posted in 2014 while its gross earnings was up by 15 per cent to N278.5 billion as against N242.67 billion recorded in prior full year results.

Consequently, the group closed the 2014 financial year with a balance sheet size in excess of N2.35trillon while shareholders’ equity increased by 13 per cent from N332.35 billion in 2013 to N374billion in the period under review.

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