{"id":69887,"date":"2019-10-17T04:52:02","date_gmt":"2019-10-17T03:52:02","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=69887"},"modified":"2019-10-17T04:52:02","modified_gmt":"2019-10-17T03:52:02","slug":"gtbank-releases-q3-2019-unaudited-results-reports-profit-before-tax-of-%e2%82%a6170-7-billion","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/gtbank-releases-q3-2019-unaudited-results-reports-profit-before-tax-of-%e2%82%a6170-7-billion\/","title":{"rendered":"GTBank Releases Q3 2019 Unaudited Results\u2026 Reports Profit before tax of \u20a6170.7 Billion"},"content":{"rendered":"<div id=\"m1680482101483682239\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\">Guaranty Trust Bank plc has released its unaudited financial results for<\/div>\n<div class=\"mail-message-content collapsible zoom-normal mail-show-images \">\n<div class=\"clear\">the period ended September 30, 2019 to the Nigerian and London Stock<br \/>\nExchanges.<\/p>\n<p>A review of the results shows positive performance across all financial<br \/>\nindices, reaffirming the Bank\u2019s position as one of the most profitable<br \/>\nand well managed financial institutions in Nigeria. Profit before tax<br \/>\nstood at \u20a6170.7billion, representing a growth of 3.9% over \u20a6164.2billion<br \/>\nrecorded in the corresponding period of September 2018. The Bank\u2019s Loan<br \/>\nBook grew by 9.2% from \u20a61.262trillion recorded as at December 2018 to<br \/>\n\u20a61.378trillion in September 2019, while customers\u2019 deposit rose by 5.1%<br \/>\nto \u20a62.390trillion from \u20a62.274trillion in December 2018.<\/p>\n<p>The Bank\u2019s balance sheet remained resilient with Total assets and<br \/>\nShareholders\u2019 Funds closing at \u20a63.519trillion and \u20a6636.8Billion<br \/>\nrespectively. Full Impact Capital Adequacy Ratio (CAR) remained very<br \/>\nstrong, closing at 23.6%. In terms of Assets quality, NPL ratio and Cost<br \/>\nof Risk (COR) improved to 5.6% and 0.2% in September 2019 from 7.3% and<br \/>\n0.3% in December 2018 respectively. Complementing the improvement noted<br \/>\nin NPLs and COR, we maintained adequate Loan Loss coverage of 95.2% for<br \/>\nLifetime Credit Impaired Loans (NPLs). On the backdrop of this result,<br \/>\nPost-Tax Return on Equity (ROAE) closed at 32.3% while Post-Tax Return<br \/>\non Assets (ROAA) stood at 5.8%.<\/p>\n<p>Commenting on the financial results, the Managing Director\/CEO of<br \/>\nGuaranty Trust Bank plc, Mr. Segun Agbaje, said; \u201cThe Bank\u2019s 3rd quarter<br \/>\nresult reflects the strength of our franchise and the quality of our<br \/>\nbusiness strategy to deliver sustainable long-term value for our<br \/>\nshareholders. Going into the final quarter of the year, we will continue<br \/>\nto differentiate ourselves by maintaining a high standard in service<br \/>\ndelivery and leveraging our resources, expertise and network to enrich<br \/>\nthe lives of our customers. That\u2019s why, from November 10 \u2013 11, 2019, we<br \/>\nare organizing the GTBank Fashion Weekend, the biggest consumer-focused<br \/>\nevent in Africa\u2019s fashion industry, to give indigenous small businesses<br \/>\nthe platform and access to new markets and customers that they need to<br \/>\ngrow.\u201d<\/p>\n<p>Over all, Guaranty Trust Bank plc continues to be best-in-class in the<br \/>\nNigerian banking industry in terms of all financial ratios i.e. Post-Tax<br \/>\nReturn on Equity (ROAE) of 32.3%, Post-Tax Return on Assets (ROAA) of<br \/>\n5.8%, and Cost to Income ratio of 36.9%. These ratios are testament to<br \/>\nexperienced Management, efficient Balance sheet structure coupled with<br \/>\noperational efficiency of the Bank.<\/p>\n<p>In recognition of the Bank\u2019s bias for world class corporate governance<br \/>\nstandards, excellent service delivery and innovation, GTBank has been a<br \/>\nrecipient of numerous awards over the years. Some of these include<br \/>\nAfrica\u2019s Best Bank and Best Bank in Nigeria from Euromoney Magazine, and<br \/>\nBest Banking Group and Best Retail Bank by World Finance Magazine.<\/p>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\"><\/div>\n<\/div>\n<div id=\"conversation-footer\" class=\"spacer\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2019 to the Nigerian and London Stock Exchanges. A review of the results shows&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":16216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-69887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GTBank Releases Q3 2019 Unaudited Results\u2026 Reports Profit before tax of \u20a6170.7 Billion - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/gtbank-releases-q3-2019-unaudited-results-reports-profit-before-tax-of-\u20a6170-7-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTBank Releases Q3 2019 Unaudited Results\u2026 Reports Profit before tax of \u20a6170.7 Billion - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2019 to the Nigerian and London Stock Exchanges. 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