GTBank Reports a Profit Before Tax of N75.58 Billion in 2012 3rd Quarter Results

Guaranty Trust Bank plc has released its unaudited financial results for the third quarter ended September 30, 2012 to the Nigerian and London Stock Exchanges. End Quote

(1888PressRelease) October 19, 2012 - A review of the result shows strong and positive performance across all financial indices. The Bank recorded a 21.86% growth in gross earnings, from N126.90 billion reported for the corresponding period in 2011 to N154.64 billion for this year. Profit before tax was N75.58 billion, up from N50.99 billion; while the Bank’s non-performing loan ratio remains low at 3.23%. The Bank reported shareholders’ funds of N269.39 billion for the period.

Commenting on the results, Mr. Segun Agbaje, Managing Director and CEO of Guaranty Trust Bank plc stated that the Bank’s impressive third quarter results are due to the increasing support the Bank enjoys from its stakeholders and the commitment of its Board, management and staff to the ideals upon which the institution was founded: integrity, professionalism, hard work, discipline and innovation. He also stated that “we will continue to invest in cutting edge technology in order to ensure that our customers consistently enjoy the quality of exceptional service Guaranty Trust Bank has come to be known for”.

Guaranty Trust Bank plc has experienced tremendous growth since its inception in Nigeria in 1990 and presently has growing operations in Ghana, Gambia, Sierra Leone, Liberia, Cote d’Ivoire and the United Kingdom due to its ability to exhibit an in-depth understanding of these markets.

The Bank’s most recent service introductions include: SMS banking which allows customers request for their account balances and Nigerian Uniform Banking Account Number (NUBAN) through their mobile phones, a virtual account for undergraduates called GTCrea8 eSavers and the GTBank e-account for salary earners, which enables them conduct all their banking activities on the go, without having to visit any GTBank branch. Furthermore the Bank also recently introduced an account that allows indigenous persons aged 70 years and above bank for free, called GTBank Seniors Account.

Guaranty Trust Bank plc has the Standards Organisation of Nigeria (SON)’s International Standards Organisation (ISO) 9001:2000 certification in recognition of quality management systems and conformity with global best practice. The Bank was recognized earlier in the year as the 2012 Bank of the Year for Nigeria by Euromoney Magazine for the 4th consecutive time. It also received the Bank of the Year Award from the Banker Magazine, the Best Bank in Nigeria Award from World Finance and its Managing Director emerged the 2012 African Banker of the Year at the African Banker Awards

###

space

Other Related Press Releases