The half year audited account ended 30th June 2016,Guaranty trust bank posted a profit before tax of N91,38billion.According to the result released on the floor of the Nigerian Stock Exchange, NSE yesterday, the bank recorded positive growth as its gross earnings for the period grew by 37 per cent to N209.9billion from N 153billion reported in the June 2015. It was driven primarily by growth in fee & commission income as well as foreign exchange income.
The profit before tax which stood at N 91.38billion, represented a growth of 45 per cent over ¦ 63.11billion recorded in the corresponding period of June 2015.The bank’s loan book grew by 14 per cent from N1.373trillion recorded as at December 2015 to N 1.562trillion in June 2016 with corresponding growth in total deposits which increased by 23 per cent to N2.008trillion from N 1.637 trillion in December 2015. Further analysis revealed that the bank closed the half year with total assets and contingents of N3.42trillion and shareholders’ funds of N 453Billion.
Return on Equity (ROAE) and Return on Assets (ROAA) closed at 35.8 per cent and 5.7 per cent respectively. The Bank is proposing interim dividend of 25kobo per unit of ordinary share held by shareholders.
No comments:
Post a Comment