Guaranty Trust Bank Plc (GTBank) on Wednesday released its audited financials for the year ended December 31, 2018.

The snapshot of the Group’s operating results for the year in review shows gross earnings grew to N434.698 billion, from N419.226 billion in 2017.

The bank’s profit before income tax (PBT) increased to N215.586 billion, from a low of N197.685 billion in 2017, while after tax profit for the year increased to N184.639 billion, from a low of N167.912 billion in 2017. Its earnings per share (EPS) increased to 654 kobo, from 594 kobo in 2017.

At the stock market, GTBank’s shares recorded increased bargains which pushed the price higher by 35 kobo or 0.93 percent, from N37.6 to N37.95. The stock has gained 10.2 percent year-to-date (ytd).

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During the 2018 financial year, the directors declared and paid an interim dividend of 30 kobo per ordinary share on the issued capital of 29,431,179,224 ordinary shares of 50 kobo each for the half-year (H1) period ended June 30, 2018.

The directors recommended the payment of a final dividend of N2.45 kobo (only) per ordinary share of 50 kobo, bringing the total dividend for the financial year ended December 31, 2018 to N2.75 kobo (2017: N2.70 kobo per share).

 

Iheanyi Nwachukwu

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Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

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