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Against the backdrop of shareholders of Guaranty Trust Bank Plc receiving 30 kobo dividend that was declared on Tuesday, the board of directors of the bank has disclosed that it received a total of 7,181 complaints on various issues from its customers for the period ended June 30, 2017.
The Central Bank of Nigeria (CBN) guidelines on resolution of customers’ complaints, requires that banks must provide periodic reports to the apex bank. Some of the outstanding complaints in GTBank statement in the period under review includes complaints on excess charges, complaints on loan and facilities availed by the bank.
While majority of the outstanding complaints constitute fraud related complaints and unauthorized local card transactions that are yet to be resolved by the acquiring banks. A breakdown of the complaints received and resolved as contained in the bank 2017 half year audited account shows that the 7,181 complaints is above 6,047 complaints that was received same period in 2016.
According to the figures the bank was able to resolve 7,098 complaints as against 6,011 that was resolved same period in 2016. The report also shows that 233 complaints is currently pending with the Bank, when compared with 150 that was pending in 2016.
On the complaints received, a total of N264, 715 million was claimed by the customers for the half year 2017 which is below N557, 585 million that was claimed in 2016. For the resolved complaints a total of N264, 157 million was claimed, which was below N507, 771 million claimed in 2016.
However a total of N82, 896 million was refunded to affected customers, this is below N328, 921 million that was refunded same period in 2016.
Complaints resolved by the bank in other currencies for the year ended December 2016 and January 1 to June 30, 2017 respectively, shows that in United States Dollars a total of $71,396 was claimed during the period under consideration which is below $116,494 that was claimed same period in 2016.
Amounts refunded stood at $26,805 which is below $96,727 that was refunded same period in 2016. In Great Britain Pounds, a total of £1,001 was claimed which is below £7,909 that was claimed in 2016. £850 was refunded in the period under consideration as against £3,099 which was refunded in 2016.
In the case of Euros currency, the bank received € 4,270 claim which is below € 39,516 that was received in 2016. Interestingly no amount was refunded, when compared with € 22,012 that was refunded in 2016. For the unresolved complaints, in United States Dollars, $30 was claimed which is below $578 that was claimed in 2016. There were no claims on Great Britain Pounds and in the period under review.
Meanwhile details of the half year 2017, 30 kobo interim dividend per 50 kobo ordinary share, which is subject to appropriate withholding tax will be paid to shareholders, whose names appears in the register of shareholders at the close of business on August 23, 2017 and August 17, 2017 for holders of the banks Global Depository Receipts (GDR). Payment date is on September 5, 2017.
The results turned in to NSE and the London Stock Exchange show profit before tax at N101.1billion, representing a growth of 18 per cent over N85.69 billion recorded in the corresponding period of June 2016.
Gross earnings for the period grew by two per cent to N214.1billion from N209.9billion driven primarily by growth in investment securities income as well as income from risk assets. But GTB’s loan book dipped by six per cent to N1.491trillion from N1.590 trillion recorded as at December 2016 and customer deposits also decreased by one per cent to N1.966trillion from N1.986trillion.
Commenting on the financial results, Mr. Segun Agbaje, the Managing Director/CEO of GTB, stated: “Our strong performance in the first half of 2017 reflects the strength of our businesses, the quality of our past decisions and the success of our efforts towards becoming a digital-first customer-centric Bank that offers simple and easily accessible products and services.
“Despite the challenging environment of slow economic growth, we focused our resources on strengthening relationships with our customers, creating business platforms that seek to add value across all customer segments, whilst consolidating our leading position in all the economies in which we operate”.
