Goddy Egene
Guaranty Trust Bank (GTBank) Plc has announced improved performance for the year ended December 31, 2018 and recommended a final dividend payment of 245 kobo per share.
The bank recorded gross earnings for the year grew by 3.7 per cent to N434.7billion, from N419.2billion reported in 2017. Its net interest income fell from N246.663 billion to N222.433 billion, while net fee and commission income improved from N40.732 billion to N50.470 billion in 2018. Impairment charges reduced significantly from N12.169 billion to N4.906 billion,.
GTBank ended the year with profit before tax of N215.6 billion, representing a growth of 9.1 per cent over N197.7billion recorded the previous year, while profit after tax (PAT) stood at N184.639 billion compared with N167.913 billion posted in 2017.
The bank’s customer deposits increased by 10.3 per cent to N2.274trillion from N2.062trillion in…
