By Johnson Eniku
Gtbank has reported a record quarterly profit of over N229 billion and an asset base of N3Trillion. Guaranty Trust Bank plc has just released its unaudited financial results for the 3rd quarter ended September 30, 2015, to the Nigerian and London Stock Exchanges.
A review of the 3rd quarter performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 15% to N229.4billion from N199.2billion reported in the corresponding period of September 2014; driven primarily by growth in interest income. Profit before tax stood at N92.06billion, representing a growth of 14% from N80.7billion recorded in the corresponding period of September 2014.The Bank’s loan book grew by 0.47% from N1.276trillion recorded in December 2014 to N1.281trillion in September 2015.
The Bank closed the third quarter ended September 2015 with Total Assets and Contingents of N3.002trillion and Shareholders’ Funds of N400.7Billion. The Bank’s non-performing loans remained low at 3.16%. On the backdrop of this result, Return on Equity (ROE) and Return on Assets (ROA) stood at 31.68% and 5.10% respectively.
Segun Agbaje, the Managing Director/CEO of Guaranty Trust Bank plc attributed the Bank’s 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.
GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank operates from over 230 branches within the country and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.