Guaranty
Trust Bank Plc has declared gross earnings of N301.9 billion for the financial
year ended Dec. 31, 2015.
The News Agency of Nigeria (NAN) reports that this was against the N278.5 billion reported in 2014.
The report is contained in the company’s audited result
released by the Nigerian Stock Exchange (NSE) on Monday in Lagos.
The gross earnings represented a growth of 8. 4 per cent
when compared to the figure for 2014.
The bank’s profit before tax stood at N120.7 billion
compared with N116.4 billion declared in 2014.
The bank’s profit after tax also rose to N99.4 billion from
N94.4 billion in 2014.
A breakdown of the bank’s result indicates that its
Interest income rose to N229.24 billion from N200.60 billion in 2014.
Net interest income rose to N159.947 billion against
N142.392 billion achieved in the preceding year.
Its
total assets grew by 7.2 per cent to N2.52 trillion in contrast to the N2.36
trillion in 2014.
The results showed that loans to customers also grew by 7.5
per cent to N1.37trillion from N1.28 trillion in 2014.
NAN reports that the bank’s directors proposed a total-year
dividend of N1.77 per share (inclusive of the 25 kobo interim dividend paid at
half year 2015).
The bank declared N1.50 per share dividend in 2014.
Segun Agbaje, the bank’s Managing Director, attributed the
performance to loyalty of its customers as well as hard work and dedication of
the staff, management and board.
Mr. Agbaje said the group had delivered a respectable
profit before tax of N120.7 billion despite an extremely challenging business
environment in 2015.
“As a Bank, we will continue to actively partner with our
customers and grow our business in a sustainable manner that is driven by
profit objective.
“We will also focus on empowering our customers with a view
to growing Nigerian economy,” he said.
Agbaje said that the bank would remain committed to
maximising shareholders’ value, delivering superior and sustainable returns
whilst actively expanding its franchise in select, high growth African markets.
“The bank has continued to report the best financial ratios
for a financial institution in the industry with a Return on Equity (ROE) of
31.0 per cent and a cost to income ratio of 44.4 per cent.”
NAN also reports the bank was the first commercial bank to
declare its 2015 audited result on the Nigerian Stock Exchange.
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