GTBank has reported a growth in its half year profit before tax of 18% over corresponding period of June 2014. In the current period under consideration, the bank achieved a profit before tax of N63.11bn. Gross earnings for the period also grew by 15% to N153billion from N133billion reported in the June 2014; driven primarily by growth in interest income.
The Bank’s loan book grew by 2% from N1.276trillion recorded as at December 2014 to N1.299trillion in June 2015 and total customer deposits increased by 5% to N1.71trillion from N1.618trillion in December 2014.
The Bank closed the half year ended June 2015 with Total Assets and Contingents of N3.04trillion and Shareholders’ Funds of N385Billion. The Bank’s non-performing loans remained low at 3.73%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 28.1% and 4.4% respectively. The Bank is proposing interim dividend of N0.25k per ordinary shareof 50 kobo each for period ended June 30, 2015.
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Segun Agbaje, the Managing Director/CEO of Guaranty Trust Bank plc attributed the Bank’s strong performance during a tough half year period, to the continued support of its customers, the commitment and hard work of its Staff, Management and Board, and strong corporate governance standards.
According to Segun Agbaje, a major objective for the Bank this year is to add value to all stakeholders and improve the customer experience. “We will continue to drive customer engagement, underpinned by a single view of the customer, and build an ecosystem that will guarantee increased customer interactions and satisfaction at every touch point”. He further stated that the Bank will continue to leverage technology and collaborations to improve customer experience and ease of interaction.
