Despite Nigeria’s challenging business environment, Guaranty Trust (GT) Bank Plc, said it recorded a Profit before tax of N115.8billion, representing a growth of 5.6 per cent over N109.6billion recorded in the corresponding period of 2018.
According to its released audited financial results for the half year ended June 30, 2019 to the Nigerian and London Stock Exchanges, the Bank’s loan book grew by 1.0 per cent from N1.262 trillion recorded as at December 2018 to N1.274trillion in June 2019 and customer deposits increased by 6.3 per cent to N2.418 trillion from N2.274trillion in December 2018.
The bank closed the half year with Total Assets of N3.598 trillion and Shareholders’ Funds of N603 billion while in terms of Asset quality, NPL ratio and Cost of Risk improved to 6.8 and 0.2 per cent in June 2019 from 7.3 and 0.3 per cent in December 2018 respectively.
Commenting on the financial results, the Chief Executive Officer, GT Bank, Segun Agbaje, said the bank delivered a good result inspite of a challenging market, characterised by varying degrees of uncertainty and a rapidly changing competitive landscape.