GBOLABO AFUWAPE
Guaranty Trust (GT) Bank will tomorrow Friday, the last working day of the month begins preparations for its third-quarter results to be announced anytime from October.
The lender’s Company Secretary, Erhi Obebeduo said the, board of directors will be meeting on October 17, 2018 to consider its unaudited financial statement for the third quarter ended 30th September, 2018 which closed period for trading on its shares begin Friday September 28 in pursuant to the post-listing requirements of the Nigerian stock exchange for quoted companies.
The expectations are that the premium commercial lender would improve on its financial performance in the first half of 2018. Guaranty Trust Bank plc audited financial results for the period ended June 30, 2018 showed that Gross earnings for the period grew by 5.9% to ₦226.6billion from ₦214.1billion reported in June 2017.
The first-tier bank’s Half Year was decent considering the declining yields and the challenges in the operating environment.
Managing Director/CEO of Guaranty Trust Bank plc, Segun Agbaje attributed the quality of the result the strength of the businesses and the success of the digital-first customer-centric strategy in delivering financial services that are simpler, cheaper and more valuable to customers’ everyday lives.
“We will continue to focus on consolidating our leading position in all the economies in which we operate by staying committed to building a business that is both nimble and efficient whilst strengthening relationships with our customers and creating business platforms that provide them with additional benefits beyond banking.”
GTBank continued to show its abilities in its class in terms of all financial ratios posted by Financial Institutions in the Industry as indicated by its Post-Tax Return on equity (ROE) of 34.1%, Post-Tax Return on Assets (ROAA) of 5.5%, Cost to Income ratio of 38.8%, NIM of 9.6% and PBT margin of 48.4%.
These ratios are testament to competent and experienced Management and work-force, efficient Balance sheet structure complemented with the Operational efficiency of the Bank.
Comments are closed.