Guranty Trust Bank Plc Records N92billion Profit Before Tax in Nine Months


Guaranty Trust Bank Plc has announced gross earnings of N229.4 billion for the nine months ended September 30, 2015. The report was released on October 22, 2015.

The report shows an increase of 15 per cent the N199.2 billion recorded in the corresponding period of 2014.

Profit before tax stood at N92.06billion, representing a growth of 14 per cent from N80.7billion recorded in the corresponding period of September 2014.

The bank’s loan book grew marginally by 0.47 per cent from N1.276trillion recorded in December 2014 to N1.281trillion in September 2015, while total assets and contingents of N3.002trillion and shareholders’ funds of N400.7billion.

The bank’s non-performing loans remained low at 3.16 per cent, while return on equity (ROE) and return on assets (ROA) stood at 31.68 per cent and 5.10 per cent respectively.

Segun Agbaje, the Managing Director/CEO of the bank, who spoke on the report ascribed the 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.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.

About Haruna Magaji 2587 Articles
Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - [email protected]

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