Guarantee Trust Bank (GTB) has recorded profit before tax of ₦101.1billion, representing a growth of 18 per cent over ₦85.69billion recorded in the corresponding period of June 2016.
The bank has also seen its gross earnings for half year 2017 grow by two per cent to ₦214.1bn from ₦209.9bn reported in June 2016; driven primarily by growth in investment securities income, as well as income from risk assets.
A review of the audited financial results for the half year ended June 30, 2017, submitted to the Nigerian and London Stock Exchanges shows positive growth across all key financial metrics and improved strategic positioning of the brand.
The bank’s loan book dipped by 6 per cent from ₦1.590tn recorded as at December 2016 to ₦1.491tn in June 2017 and customer deposits decreased by one per cent to ₦1.966tn from ₦1.986tn in December 2016.
The bank closed the half year with Total Assets and Contingents of ₦3.75tn and Shareholders’ Funds of ₦538bn. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 38.8 per cent and 6.4 per cent respectively. The bank is proposing interim dividend of 30k per ordinary share of 50k each for the period ended June 30, 2017.
