Guaranty Trust Bank Plc has released its audited financial results for the half year ended June 30, 2013 to the Nigerian and London Stock Exchanges.
According to a statement from the bank, the gross earnings for the half year period of 2013 stood at N124.20bn, an increase of N10.68bn from the N113.53bn reported for the corresponding period in 2012.
The bank said profit before tax was N57.36bn, up from N53.64bn recorded in June 2012.
It also reported a 2013 half year profit after tax of N49.01bn, an increase over the N45.55bn reported in June 2012.
The statement read, “The bank closed the half year ended June 2013 with total assets and contingents of N2.50tn, customer deposits of N1.25tn and shareholders’ funds of N296.95bn.
“The bank’s non-performing loans remained low at 3.32 per cent. On the backdrop of this result, return on equity and return on assets closed at 33.78 per cent, and 5.45 per cent respectively for period ended June, 2013. The bank is proposing an interim dividend payment of N7.36bn to shareholders (N0.25 per ordinary share of 50 kobo each).”
It quoted the Managing Director, Mr. Segun Agbaje, as attributing the growth to support from its customers, hard work of its dedicated workers and strong corporate governance standards.
According to Agbaje, a major objective for the bank this year is adding value to its stakeholders through excellent customer service delivery.
It is the bank’s belief that success on these fronts would enable it to deepen its share of market across all sectors and improve profitability, despite today’s extremely challenging business environment.