GT Bank Q1 profit drops 2 percent on higher operating cost

Guaranty Trust Bank, in a filing on the Nigerian Stock Exchange (NSE),  first-quarter pretax profit fell 2 percent to N28 billion.

But gross earnings climbed to N67.6 billion in the three months ended March 31, from N63.9 billion in the same period last year.

Operating costs rose 10 percent to N23.86 billion.