GTBank reports PBT of N92.06bn in Q3

Guaranty Trust Bank plc has in third quarter (Q3) ended September 30, 2015, recorded profit before tax (PBT) of N92.06 billion, representing a growth of 14 percent from N80.7 billion recorded in the corresponding period of September 2014.

A review of the Q3 performance, as presented to the Nigerian and London stock exchanges, shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 15 percent to N229.4 billion from N199.2 billion reported in the corresponding period of September 2014; driven primarily by growth in interest income.

The bank’s loan book grew by 0.47 percent from N1.276 trillion recorded in December 2014, to N1.281 trillion in September 2015.

The bank closed the Q3 ended September 2015 with total assets and contingents of N3.002 trillion and shareholders’ funds of N400.7 billion. Its non-performing loans remained low at 3.16 percent. On the backdrop of this result, Return on Equity (ROE) and Return on Assets (ROA) stood at 31.68 percent and 5.10 percent respectively.

Segun Agbaje, managing director/CEO, GTBank, attributed the  strong 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.

According to Segun Agbaje, the aggressive pursuit of our key objectives for the year, which are focused mainly on adding value to all stakeholders and improving customer experience, are yielding positive dividends and reflecting heavily on the Bank’s performance. “Recognizing we operate in challenging business environments, we set high goals and benchmark ourselves against global standards which influence our service culture and product offerings, thereby enabling us to remain relevant to our customers while adding value to all stakeholders. We will continue to differentiate ourselves by providing innovative solutions that create sustainable value for all our customers and stakeholders while maintaining a high standard in service delivery by prioritizing innovation, integrity and excellence.

He further stated that “As a Bank, we will continue to leverage technology and collaborations to improve service delivery quality, stakeholder interaction points and the overall GTBank customer experience.

 

 HOPE MOSES-ASHIKE