Nigeria’s Guaranty Trust Bank records 3.3% profit increase in Q3 2019

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Guaranty Trust Bank Plc has become one of the first few Nigerian companies to release their unaudited financial results for the third quarter period ended September 31st, 2019. Information contained in the result shows that the company performed well across all major financial indicators.

Net Income: The financial statement shows that the GTBank generated N172.9 billion in net interest income over the past nine months of 2019. This is indicative of 1.3% increase compared to N170.6 billion which was generated in Q3 2018. The bank also generated a net fee and commission income of N46.5 billion for Q3 2019 as against N37.8 billion for the same period in 2018. This represents approximately a 23% increase

Profit Before Tax: The company’s profit before tax for the period under consideration increased by 4% to N170.6 billion, up from N164.2 billion in Q3 2018.

Profit After Tax: This also increased by 3.3% to N146.9 billion in Q3 2019, up from N142.2 billion in Q3 2018.

The company’s earnings per share for the period stood at N5.19, as against N5.03 in the third quarter of 2018.

The company’s share price ended trading on the Nigerian Stock Exchange at N27, marking an addition of N0.35 to yesterday’s share price of N26.65.

To download the full result, click here.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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