GTBank releases 2019 full year audited results, reports profit before Tax of ₦231.7 Billion
Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2019 to the Nigerian and London Stock Exchanges.
The Bank maintained a well-structured and diversified balance sheet with Total assets and Shareholders’ Funds closing at ₦3.759trillion and ₦687.3Billion respectively. Full Impact Capital Adequacy Ratio remained very strong, closing at 22.5%. In terms of Assets quality, NPL ratio improved to 6.5% in December 2019 from 7.3% in December 2018 while Cost of Risk remained flat at 0.3%. Complementing the improvement noted in NPLs, the Bank maintained adequate Loan Loss coverage of 126.
He further stated that; “Underpinning our strong financial performance is our commitment to being there for our customers when it matters most. That is why, powered by the fundamental strength of our brand, and guided by our strategy of putting our customers at the centre of everything we do, we will continue to design and deliver financial services that not only solves our customers’ real pain points but also leaves them better after every interaction.
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