GTBank Grows Profit By 17%, Declares 30k Interim Dividend

Guaranty Trust Bank Plc has recorded a 17 percent growth in its profit after tax reported for the first six month of 2017.

The results released on the floor of the Nigerian Stock Exchange, showed the bank’s profit after tax grew to N83.7 billion compared with N71.8 billion recorded in the first half of last year.

The board of Guaranty Trust Bank has thus declared an interim dividend per share of 30 kobo to be paid to shareholders on the register of the bank as at the close of business on August 23, 2017 and August 17, 2017 for holders of the Bank’s Global Depository Receipts (GDR).

The bank noted that the dividend will be paid on September 5, 2017, while holders of the Bank’s GDR listed on the London Stock Exchange will receive their dividend payment subsequently.

The bank also noted that its Register of Shareholders will be closed on August 24, 2017, while the Register of GDR holders will be closed on August 18, 2017, to enable its Registrars prepare for the payment of interim dividend.

Further perusal into the bank’s audited 2017 half year results revealed that the bank’s net interest income, grew 63 per cent from N79.1 billion, to N129.5 billion during the first half of the year, while net fee and commission income fell 22 per cent to N27.1 billion from N34.8 billion as at June 2016.

Gross earnings appreciated by 2 per cent, from N209.9 billion as at June 30, 2016, to N214.1 billion as earnings per share settled at N2.96 from N2.54 per share recorded in June, 2016.

GTBank’s statement of financial position showed total assets grew to N3.2 trillion from N3.1 trillion as at December 31, 2016. Total liabilities also grew 3.2 per cent to N2.694 trillion from N2.611trillion while customers’ deposits, closed at N1.966 trillion compared with N1.986 trillion as at December 31, 2016.