GTBank Reports 5.6% Increase In PBT, Proposes 30kobo Interim Dividend

Guaranty Trust Bank plc (GTBank) has reported 5.6 per cent increase in Profit Before Tax (PBT) in audited half year result and account submitted to the Nigerian Stock Exchange (NSE) on Friday.

The financial institution reported N115.8 billion PBT in H1 2019 from N109.6 billion reported in H1 2018 while Profit After Tax (PAT) grew by 3.7per cent to N99.1 billion from N95.6 billion reported in H1 2018.

The Group results showed 2.1 per cent decline in gross earnings to N221.8 billion in the period under review from N226.6 billion reported in prior half year audited financials.

With growth in PAT, GTBank’s Earning Per Share (EPS) appreciated by 3.6 per cent to N3.50 in H1 2019 from N3.38 reported in H1 2018.

Keeping to the management interim payout, the directors of GTBank proposed the payment of an interim dividend in the sum of 30 kobo per ordinary share on the issued capital of 29,431,179,224 Ordinary Shares of 50 Kobo each payable to Shareholders on the register of shareholding at the closure date.

Highlights from statement of financial position showed total assets up by 9.6 per cent to N3.59 trillion as at June 30, 2019 from N3.29 trillion reported in full year ended December 31, 2018.

Further check by our correspondent revealed that loans & advances rose by 1.1 per cent to N1.27 trillion as at June 30, 2019 from N1.26 trillion in 2018 while deposits from customers grew marginally by 6.3 per cent to N2.42 trillion from N2.27 trillion reported in 2018.

Speaking during the H1 2018 result, the Managing Director/CEO, GTBank , Mr. Segun Agbaje, had said. “In spite of declining yields and the challenges in the operating environment, we have delivered a decent half year result. The quality of this result is built on the strength of our businesses as well as the success of our digital-first customer-centric strategy in delivering financial services that are simpler, cheaper and more valuable to our customers’ everyday lives.”

He further stated that “We will continue to focus on consolidating our leading position in all the economies in which we operate by staying committed to building a business that is both nimble and efficient whilst strengthening relationships with our customers and creating business platforms that provide them with additional benefits beyond banking.”

Post Author: Friday Ekeoba