Guaranty Trust Bank Declares
N103bn Profit Before Tax Fri, 05/04/2013 - 4:45am | JULIET ALOHAN Guaranty Trust Bank Plc has declared a
N103 billion profit before tax for the
financial year ended December 2012,
representing 66 per cent growth
compared to the N66.08 billion
recorded in 2011, the highest for any Nigerian bank. The financial result which was
declared to operators of the Nigerian
Stock Exchange (NSE) showed
improved gross earnings of N221.9
billion, and N87.3 billion profits after
tax, a growth of 69 per cent over the N51.7 billion declared in 2011. “The bank closed the 2012 financial
year with an on-balance sheet size of
N1.73 trillion an improvement of
N1.608 trillion in 2011, while total
assets and contingents stood at N2.26
trillion representing a growth of 8 per cent and 6 per cent respectively,”
statement made available to
LEADERSHIP yesterday, said. A further breakdown of the result
showed that deposit liabilities of the
group grew by 12 per cent to 1.15
trillion in 2012, reflecting a decent
growth of N120 billion from the N1.03
trillion closing position in the corresponding period of 2011. “This growth in customer deposits
fuelled the increase in the loon book
as net loans and advances closed at
N783.9 billion, translating to a growth
of 11 per cent over the N707.05 billion
in the comparative period of 2011. Shareholders’ funds increased from
N230.4 billion in 2011to N283.4
billion in 2012,” the statement added. According to analysts, the
performance confirmed GTBank as the
first and only Nigerian bank to cross
the N100 billion profit before tax
milestone. Further analysis showed non-
performing loans ratio standing at 3.4
per cent compared to 3.5 per cent in
2011, while cost-to-income ratio
improved to 42.7 per cent from 52.9
per cent in 2011. The bank’s 2012 tax liabilities was
over N16.3 billion, while total dividend
payment for the financial year is
projected at N45.62 billion (N1.55 per
ordinary share of 0.50 kobo each). The Chief Executive Officer of Guaranty
Trust Bank, Segun Agbaje, attributed
the success to its adherence to a
defined growth plan, high corporate
governance standards and the cultural
values for which it was known.

http://leadership.ng/nga/articles/51520/2013/04/05/guaranty_trust_bank_declares_n103bn_profit_tax.html

these banks are making money. I say a big congratulations to their shareholders

Customers money.

[color=#770077][/color] na so

I can arguably say that GT bank has one of the largest customer base. They even experienced and upsurge after intercontinental bank failed it's huge customer base thereby making them to flock to GT Bank. Only the likes of first bank can rival Fola Adeola's brain child though their customer service is failing due to overload issues. Moreover, they need more branches.

Their banking policies are more customer friendly hence the large customer base