Guaranty Trust Bank Grows First Quarter Profit After Tax to N45bn

Guaranty Trust Bank Grows First Quarter Profit After Tax to N45bn

Guaranty Trust Bank Plc (GTBank) thursday became the first bank to release its financial performance for the first quarter ended March 31, 2018. According to the results made available through the Nigerian Stock Exchange (NSE), GTBank Plc recorded a profit after tax (PAT) of N44.670 billion, up by from N41.471 billion in the corresponding quarter of 2017. The bank ended the period with net interest income of N59.689 billion, down from N66.129 billion in 2017. Loans impairment charges fell from N3.412 billion in 2017 to N1.639 billion. Fees and commission income improved from N13.68 billion to N15.22 billion, while profit before tax (PBT) grew from N50.392 billion to N52.624 billion in 2018. A further breakdown of the results showed that deposits from customers rose from N2.062 trillion to N2.214 trillion. However, loans and advances fell marginally from N1.449 trillion to N1.354 trillion. Read more https://www.thisdaylive.com/index.php/2018/04/19/guaranty-trust-bank-grows-first-quarter-profit-after-tax-to-n45bn/