Guaranty Trust Bank Plc recorded positive performance across some key financial indices, in spite of an extremely challenging business environment and increasing regulatory headwinds.

Gross earnings for the period grew by 7 per cent to N132 billion from N124 billion reported for the corresponding year period 2013. Profit-before-tax at N53.40 billion was 7 per cent dip from N57.4billion recorded in the corresponding year due to loan impairment charged to the profit and loss account during the period.

The bank’s loan book grew by 16 per cent from N899 billion recorded in June 2013 to N1.04trillion in June 2014 and total customer deposits increased by 8 per cent to N1.54trillion as at June 2014.

Managing director/CEO of the bank Mr Segun Agbaje attributed the performance for the 2014 half-year period to the hard work of its staff, commitment of its management team and, more importantly, continued support from its customers.

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http://monitor9ja.com/2014/09/gtb-reports-n53bn-half-year-gross-profit/