The bank's after-tax profit inched up by 0.7 per cent to N130.3 billion....................................
Segun Agbaje, group CEO of GTCOOn the expenditure side, other operating costs climbed 19.1 per cent year on year, totalling N81.8 billion amid Nigeria’s runaway inflation, which touched 20.8 per cent in September.The major pressure point here was occupancy costs, comprising expenses on diesel, fuel and electricity, which surged 64.7 per cent to N6.3 billion.
The financial services group incurred N23.3 billion in AMCON expenses relative to N21.9 billion one year prior. Pre-tax profit stood at N169.7 billion, improving by 11.7 per cent. After-tax profit inched up by 0.7 per cent to N130.3 billion. Total assets expanded by 6.9 per cent to N5.8 trillion. More than 40 per cent of GTCO’s net profit for the period was contributed in the third quarter during which bottom line stood at N52.3 billion.