GTBank posts N58b profit in three months
Guaranty Trust Bank Plc sustained modest growths across key performance indices in first quarter with pre-tax profit rising to N58.2 billion within the three-month period.
GTB distributed N82.4 billion to shareholders as cash dividends for the 2019 business year after it made history with the conduct of first-ever proxy Annual General Meeting . The balance sheet also indicated improvements in banking activities and market share. Loans grew by 19 per cent from N1.26 trillion in 2018 to N1.50 trillion in 2019. Customers’ deposits increased by 11.4 per cent to N2.53 trillion in 2019 as against N2.27 trillion in 2018. Total assets and shareholders’ funds stood at N3.76 trillion and N687.3 billion respectively. Full impact capital adequacy ratio remained strong at 22.5 per cent.
He said the bank’s strong financial performance in 2019 demonstrates that it is delivering on both customers and shareholders’ expectations.
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