Guaranty Trust Bank Plc (GTBank) said its profit before tax grew by 16.85 per cent in the first quarter of 2013, to N28.49 billion, from the N24.38 billion realised in the comparable period of 2012.
GTBank’s results also showed that its gross earnings climbed by 20.83 per cent to N63.57 billion in the period under review, as against the N52.62 billion it was in the first quarter of 2012. The bank’s non-performing loan ratio was also low at 2.8 per cent, just as it reported shareholders’ funds of N307.95 billion for the period.
Commenting on the results, Managing Director/Chief Executive Officer, GTBank, Mr. Segun Agbaje said the financial institution was committed to positioning itself as the bank of choice for Nigerians and would continue to uphold the values of discipline, hardwork, excellent service quality and professionalism in all its operation.
He further stated that the bank’s positive 2013 first quarter results was due to customer loyalty, staff passion, a defined strategic plan and a supportive board. Agbaje also added that barring any unforeseen development, the bank will maintain this performance for the rest of the 2013 financial year.
GTBank has experienced tremendous growth since its inception in Nigeria in 1990 and presently has growing operations in Cote d’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom due to its ability to exhibit an in-depth understanding of these markets.