GTBank Plc Records GHC1.7bn Profit In 9 Months

GTBank Plc Records GHC1.7bn Profit In 9 Months

The GTBank Group has become synonymous with success. At the Euromoney Awards for Excellence held in London in September this year, the bank was named the Best Bank in Nigeria for its ability to adapt to local situations while maintaining international standards of best practice. 

Guaranty Trust Bank Plc, parent company of Guaranty Trust Bank (Ghana) Limited, has announced gross earnings of approximately US$1.2billion (GHC4.4billion) from January to the end of September 2015 -- showing an increase of 15 percent over the US$990million (GHC3.8billion) recorded within the same period of 2014.

Profit before tax stood at US$457million (GHC1.7billion), representing a growth of 14 percent from US$401million (GHC1.6billion) recorded in the corresponding period of September 2014.  The bank’s loan book grew marginally by 0.47 percent from the US$6.4billion (GHC23.98billion) recorded in December 2014 to US$6.2billion (GHC24.08billion) in September 2015 -- with total assets and contingents of US$14.9billion (GHC56.4billion) and shareholders’ funds of US$1.99billion (GHC7.5billion).

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The Group’s non-performing loans remained low at 3.16 percent, while return on equity (ROE) and return on assets (ROA) stood at 31.68 percent and 5.10 percent respectively.

Managing Director/CEO of GTBank Plc, Mr. Segun Agbaje, attributed the bank’s performance to continued support from its customers, the commitment and hard work of its Staff, Management and Board, and the prioritisation of strong corporate governance standards in the bank’s systems and procedures.

The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries, and it 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.

In Ghana, the bank is on the Club 100 List of prestigious companies in the country.

Source: B&FT


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