• Home
  • Business
  • Guaranty Trust Bank grows customers’ deposits by 18.5 per cent
Image

Guaranty Trust Bank grows customers’ deposits by 18.5 per cent

Guaranty Trust (GT) Bank Plc has announced that its customers’ deposits increased by 18.5 per cent to N3.001 trillion in six months from N2.53 trillion recorded in December 2019.

According to its audited financial results for the half year, which ended on June 30, 2020 made available by the Nigerian and London stock exchanges, the bank’s loan book grew by 8.1 per cent from N1.502 trillion recorded as at December 2019 to N1.624trillion in June 2020 while customer deposits increased by 18.5 per cent to N3.001 trillion from N2.53 trillion in December 2019.

However, the bank’s profit before Tax (PBT) closed at N109.7 billion, representing a decrease of 5.2 per cent over N115.8 billion recorded in the corresponding period of 2019, while profit after tax (PAT) settled at 4.9 per cent lower, given the decline in income tax expense (-7.3 per cent y/y to N15.44 billion. Furthermore,  the bank proposed an interim dividend of 30 kobo per share, which translates to a dividend yield of 1.2 per cent, based on a market price of N25.66 per share.

Commenting on the financial results, its CEO, Segun Agbaje, said it has been undoubtedly tough and trying times for people, businesses and economies the world over.

“Our financial performance in the first half of the year reflects the quality of our past decisions which have broadened our earnings and strategically positioned us to thrive, thus far, through the current global health and economic crises.

Related Posts

Zadara AI Sovereign Cloud launches in Kenya, improving digital transformation

In a significant step toward advancing Kenya’s digital landscape, iXAfrica Data Centres, East Africa’s premier hyperscale, AI-ready data…

‎Abzena appoints Geoffrey Glass as  CEO

Abzena, a leading end-to-end integrated contract development and manufacturing organization (CDMO) and contract research organization (CRO) specializing in…

NCBA unveils digital personal loan to empower retail customers in Kenya

NCBA Bank has launched the NCBA Digital Personal Loan, a new financing product designed to meet the diverse…

Women leaders champion gender equity at 7th Africa Procurement Summit

The 7th Africa Procurement and Supply Chain Summit, held on July 3, 2025, at the Lagos Oriental Hotel,…

Leave a Reply

Your email address will not be published. Required fields are marked *