GTCO, UBA Top Others as Most Profitable Lenders by RoE in 2023FY – THISDAYLIVE


Kayode Tokede

On the backdrop of impressive earnings, Guaranty Trust Bank Holding Company Plc (GTCO) and United Bank for Africa Plc (UBA) outpaced other banks as the most profitable financial institutions by Return on Equity (RoE) in the 2023 financial year.

RoE is a ratio that provides investors with insight into how efficiently a company (or more specifically, its management team) is handling the money that shareholders have contributed to it.

GTCO, according to THISDAY investigations declared 44.82 per cent RoE from 18.65 per cent in 2022.

The 23.61 per cent RoE growth recorded by GTCO showed efficiency in generating income and growth from its shareholders amid a punitive regulatory environment.

“The Group’s performance remained resilient and responsive in the face of daunting challenges ranging from elevated inflation, heightened FX risks that characterised most of 2023 financial year.

“It adapted by deploying…

Source: Thisday Newspaper