Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2018, to the Nigerian and London Stock Exchanges.

A review of the results shows positive performance across all financial metrics and improved strategic positioning of the brand. Gross earnings for the year grew by 3.7% to ₦434.7billion from ₦419.2billion reported in December 2017. Profit before tax stood at ₦215.6billion, representing a growth of 9.1% over ₦197.7billion* recorded in the corresponding year ended December 2017. The Bank’s customer deposits increased by 10.3% to ₦2.274trillion from ₦2.062trillion in December 2017, however, loan book dipped by 12.9% from ₦1.449trillion recorded as at December 2017 to ₦1.262trillion in December 2018.

In view of the above, the Bank closed the 2018 financial year with Total Assets of ₦3.287trillion and Shareholders’ Funds of ₦575.6Billion. In terms of Assets quality, NPL ratio and Cost of Risk improved to 7.3% and 0.3% in December 2018 from 7.7% and 0.8% in December 2017 respectively. In addition, the coverage ratio for NPL stood at 105.1% and Capital adequacy ratio remained very strong, closing at 23.4% despite the implementation of IFRS 9. On the backdrop of this result, Post Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 30.9% and 5.6% respectively. The Bank is proposing a final dividend of ₦2.45k per unit of ordinary share held by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2018 financial year to ₦2.75k per unit of an ordinary share.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said; “In 2018, our focus on staying nimble, strengthening customer relationships and driving our digital-first strategy paid off. We successfully navigated the pressures of our challenging and radically changing business environment, recorded growth across key financial indices and reaffirmed our position as one of the best performing and well managed financial institutions in Africa.

He further stated that; ‘This result reflects, not just the fundamental strength of our brand, but also our commitment to our values of excellence, creating value for all stakeholders and putting our customers first in everything that we do. Driven by these values, we are building the bank of the future by pairing the best of our business with the massive potential of digital technologies to create Africa’s first integrated and trusted platform; Habari.

GTBank has continued to report the best financial ratios in terms of profitability, efficiency and capital for a Financial Institution in Nigeria as revealed by its return on equity (ROAE) of 30.9%, a cost to income ratio of 37.1% and capital adequacy of 23.4%. These ratios are a testament to the efficient management of the Bank. In recognition of the Bank’s bias for world-class corporate governance standards, excellent service delivery, and innovation, GTBank has been a recipient of numerous awards over the years. Some of the Bank’s awards in 2018 include Bank of the Year – Nigeria from the Banker Magazine, Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine, Most Innovative Bank from the African Investor, and Best Digital Banking Brand in Nigeria from the Global Brands Magazine.

SOURCE: https://brandspurng.com/2019/03/07/gtbank-profit-before-tax-hits-n215-6bn-in-2018/

Great!

sound good

Why won't they with all spurious charges and extortions that they mete out to customers!

I am not surprised. The day light robbery of banks in Nigeria is Top Notch!

This is great! These guys must be paying cool cash for tax into govt coffer. I wish them more profits in 2019.

Your brand creative packaging goes a long way in expanding your client base. Get your website/blog/software for that business, idea, school, church, NGOs, etc today. Contact through my signature.

The GTBank internet banking platform is top-notch. They employ only university graduates. The last recruitment exercise that was done by the bank accepted only first class and second-class-upper graduates. When you want to stand out, recruit the best and pay them well.
The same principles are applied by Google, Facebook, Apple, Amazon, Microsoft, LinkedIn, and other bluechip companies. They employ the best and pay them well.

Thanks to Sms charges and atm card maintenance.


I build websites and I'm based in Abuja, See my signature /Profile

Tifu Tifu Bank Robbery...
They can deduct money for Africa...

Stargner:
I am not surprised. The day light robbery of banks in Nigeria is Top Notch!

You are filled with negativity..
When they make lost, u rant
Whe. They make profit, you rant..
I doubt if you can make any success in life

Why woun't they gain dat much wen dey charge Abt 4,200 on sms alert fees on we dat run agent banking. Lol

Why won’t they declare profit when all they do is debit upon debit. Keep money in the bank and see it reduce right before your own very eyes.

This GTBank na criminal, with the way they take my money every Saturday, why won't they hit such profit?

Nice One

Where are those IPOB chest beaters ?

And some ignorant children of hate bragged about bringing down this noble bank all because of issues between the bank and one of their brother

Ok

Exponential improvements in performance year on year, this is what you get when you’re innovative unlike some that, save for the support of some political elements, they shouldn’t have any business with banking. Meanwhile, reverence must be made to Fola Adeola, Tayo Aderinokun (RIP), Segun Agbaje and co. for changing the face of and championing a revolution in banking in Nigeria. A revolution that shook greatly the likes of Subomi Balogun. You all have left indelible footprints in the sand of time.

The best bank in Naija

How will this effect the rigged election?


I am a web designer, check my signature

GtB always debiting people without reversal especially on weekends

All my hundred naira they deduct for nothing every month. Tifs
I never see any interest since.

My bank

While some yoruba sons are online shouting "Igbo leave our town" their fathers are offline selling more lands to igbo businessmen �.

I thought some chestbeating criminals promised to bring down gtb because the fraudulent debt defualting innosan

These people shouldn't add my 10k to their so called profit o.
I sent to another account but didn't reflect while the money was deducted from mine.

How....a bank that is ranked 576th globally declaring about 700million dollars PBT ... Nigerians are easily fooled...that's y education is messed up in this country.... How possible is that...

lakesider:


You are filled with negativity..
When they make lost, u rant
Whe. They make profit, you rant..
I doubt if you can make any success in life

I would have let this slide, but that wouldn't be fair on you and your life! you hardly know me and you write such nonsense. I can assure you that the success i have made in life, Your Generation cannot and would never amount to such. So, Get off and don't quote me again.

Not surprised, Women are excellent managers

I thought they will close down since some people were closing their accounts.


Clowns

lakesider:


You are filled with negativity..
When they make lost, u rant
Whe. They make profit, you rant..
I doubt if you can make any success in life

The Bank’s customer deposits increased by 10.3% to ₦2.274trillion from ₦2.062trillion in December 2017, however, loan book dipped by 12.9% from ₦1.449trillion recorded as at December 2017 to ₦1.262trillion in December 2018.

Oga, before you insult, can you explain how customer deposit increased by 10.3% while loan book dipped by 12.9%?

What other form of tiff tiffu can be greater than an organization that takes from you (customer daada) but fails to increase loan in same measure?

Customers like you and I are the greatest losers in the banking business.

These banks will run to CBN at the slightest opportunity to get so called 'SME' loans at extremely low and interesting rates. The fair ones among them will disburse the loans to customers, especially those who are ready to present their fathers' heads as collateral, while the very indecent ones will reinvest loans on extremely low risk financial instruments like TBills at higher rates.

Why won't they declare massive profits?