GT Bank’s profits slides, but still makes N93.1 billion in six months — CEO

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Guaranty Trust Holding Company

In the six months ended June 30, Guaranty Trust Holding Company Plc, now Guaranty Trust Holding Company Plc, made a profit before tax (PBT) of N93.1 billion, according to Guaranty Trust Holding Company Plc’s Group Chief Executive Officer, Mr. Segun Agbaje.

Agbaje presented the company’s audited financial figures for the month ended June 30 in Lagos on Friday, noting that the group’s PBT was down 15.2 percent from the N109.7 billion achieved at the same time in 2020.

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Profits fell to N79.41 billion in the fiscal year under review, down from N94.27 billion in the same period in 2020.

Results show our commitment to improving our financial performance, and our ability to consistently innovate will ensure we stay ahead of the curve at all times,” Agbaje said.

To continue to make end-to-end financial services accessible to all, and to achieve the best results for all of our customers and the communities in which we operate, we rely on our loyal customers’ continued support, as well as the hard work of our dedicated employees.

By consolidating our leadership position across all of our franchises’ economies, we hope to reap the full benefits of the new corporate structure.

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For the long-term benefit of shareholders, he said: “We’ll diversify our revenue streams from core banking and continue to empower businesses throughout Africa.”

From N225.13 billion in the previous year to N207.91 billion in the current fiscal year, gross earnings fell by a significant amount.

He added that the Group’s balance sheet structure and earning capability remained stable, with total assets closing at N5.01 trillion, owing to an increase of 4 percent in deposit liabilities to N3.75 trillion on June 30 from N3.61 trillion in December 2020.

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