Guaranty Trust Bank Plc (GTBank) has released its financial results for the half year (H1) period ended June 30, 2020.
The snapshot of the Group’s operating results for the H1 period shows Gross Earnings increased by 1.47 percent to N225.138billion as against N221.869billion in H1’19.
Profit before income tax stood lower by 5.25percent to N109.713billion from H1’19 high of N115.787billion. GTBank’s profit for the H1’20 period stood at N94.271billion, down by 4.9 percent from N99.133billion recorded in H1’19.
For the H1’20 period under review, directors of the bank 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.
The interim dividend valued at N8.83billion is payable to shareholders on the register of shareholding at the closure date.
At the Nigerian Stock Exchange, GTBank share price increased to N25.65, up by 5kobo or 0.2 percent on Wednesday.
Withholding tax will be deducted at the time of payment of the interim dividend. The bank’s principal activity remains the provision of commercial banking services to its customers, such as retail banking, granting of loans and advances, corporate finance, money market activities and related services, as well as foreign exchange operations.
According to the Register of Members as at June 30, 2020, no individual shareholder held more than 5 percent of the issued share capital of the bank except for the following: GTBank GDR (underlying shares) 1,651,577,787 units or 5.61percent; and Stanbic Nominees Nigeria Limited (6,877,607,203 units or 23.37percent).
Citibank Nigeria Lmited held the 1,651,577,787 units of shares in its capacity as custodian for the underlying shares of the Global Depositary Receipts (GDRs) issued by the GTBank in July 2007, and listed on the London Stock Exchange.
Stanbic Nominees Nigeria Limited 23.37percent of GTBank’s shares largely in trading accounts on behalf of various investors. Stanbic does not exercise personal voting rights on the said shares.
The GTBank has the following overseas subsidiaries: Guaranty Trust Bank (Gambia) Limited, Guaranty Trust Bank (Sierra Leone) Limited, Guaranty Trust Bank (Ghana) Limited, Guaranty Trust Bank (United Kingdom) Limited,
Guaranty Trust Bank (Liberia) Limited, Guaranty Trust Bank (Ivory Coast) Limited, Guaranty Trust Bank (Kenya)
Limited, Guaranty Trust Bank (Rwanda) Limited, Guaranty Trust Bank (Uganda) Limited and Guaranty Trust Bank (Tanzania) Limited.
