Guaranty Trust Bank (GTB) Plc, Nigeria’s largest lender by market value in a statement posted on the Nigerian Stock Exchange (NSE) website reveals half year profit fell by 10 percent.
The bank continues to grapple with Central Bank of Nigeria (CBN) regulatory induced costs that have been slowing its growth potentials.
For the first six months through June 2014, GTBank’s net income reduced by 10 percent to N44.0 billion from N49.01 billion for the same period (HY) of 2013.
Top line level performance was quite impressive as it recorded a single digit, 7 percent, increase to N132.98 billion in the review period compared to N124.20 billion as at HY the prior year.
Bala Augie
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