08-20-2019, 10:35 AM
GTB declares N8.83b interim dividend on H1 results
•Posts N115.8b profit in six months
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GUARANTY Trust Bank (GTB) Plc will be distributing N8.83 billion as interim cash dividends to shareholders after pre-tax profit rose to N115.79 billion in the first half of this year.
Shareholders will receive interim dividend per share of 30 kobo, continuing the bank’s tradition of twice annual dividend payment. The interim dividend will be paid on September 11, 2019 to all shareholders on the register of the bank as at the close of business on September 03, 2019.
Key extracts of the audited report and accounts for the six-month period ended June 30, 2019 released at the Nigerian Stock Exchange (NSE) at the weekend indicated profit before tax rose by 5.6 per cent to N115.8 billion in first half 2019 as against N109.6 billion recorded in the corresponding period of 2018. Profit after tax also improved from N95.58 billion to N99.13 billion. Gross earnings however declined from N226.63 billion to N221.87 billion. Earnings per share improved from N3.38 to N3.50.
The bank’s balance sheet also emerged stronger during the period. Loan book grew from N1.26 trillion recorded as at December 31, 2018 to N1.27 trillion by June 30, 2019. Customer’s deposits also increased by 6.3 per cent to N2.42 trillion in June 2019 as against N2.27 trillion in December 2018. The bank closed the half year with total assets of N3.6 trillion and shareholders’ funds of N603.0 billion.
In terms of asset quality, non-performing loan (NPL) ratio and cost of risk improved to 6.8 per cent and 0.2 per cent in June 2019 from 7.3 per cent and 0.3 per cent in December 2018 respectively. Overall, asset quality remains stable with adequate coverage of 84.7 per cent, while capital adequacy ratio remains strong at 23.5 per cent. Return on Equity (ROAE) and Return on Assets (ROA) stood at 33.7 per cent and 5.8 per cent respectively.
Chief Executive Officer, Guaranty Trust Bank (GTB) Plc, Segun Agbaje, described the results as good results in view of the challenges in the operating environment, characterised by varying degrees of uncertainty and a rapidly changing competitive landscape.
•Posts N115.8b profit in six months
[/url]
[url=https://thenationonlineng.net/#facebook]
GUARANTY Trust Bank (GTB) Plc will be distributing N8.83 billion as interim cash dividends to shareholders after pre-tax profit rose to N115.79 billion in the first half of this year.
Shareholders will receive interim dividend per share of 30 kobo, continuing the bank’s tradition of twice annual dividend payment. The interim dividend will be paid on September 11, 2019 to all shareholders on the register of the bank as at the close of business on September 03, 2019.
Key extracts of the audited report and accounts for the six-month period ended June 30, 2019 released at the Nigerian Stock Exchange (NSE) at the weekend indicated profit before tax rose by 5.6 per cent to N115.8 billion in first half 2019 as against N109.6 billion recorded in the corresponding period of 2018. Profit after tax also improved from N95.58 billion to N99.13 billion. Gross earnings however declined from N226.63 billion to N221.87 billion. Earnings per share improved from N3.38 to N3.50.
The bank’s balance sheet also emerged stronger during the period. Loan book grew from N1.26 trillion recorded as at December 31, 2018 to N1.27 trillion by June 30, 2019. Customer’s deposits also increased by 6.3 per cent to N2.42 trillion in June 2019 as against N2.27 trillion in December 2018. The bank closed the half year with total assets of N3.6 trillion and shareholders’ funds of N603.0 billion.
In terms of asset quality, non-performing loan (NPL) ratio and cost of risk improved to 6.8 per cent and 0.2 per cent in June 2019 from 7.3 per cent and 0.3 per cent in December 2018 respectively. Overall, asset quality remains stable with adequate coverage of 84.7 per cent, while capital adequacy ratio remains strong at 23.5 per cent. Return on Equity (ROAE) and Return on Assets (ROA) stood at 33.7 per cent and 5.8 per cent respectively.
Chief Executive Officer, Guaranty Trust Bank (GTB) Plc, Segun Agbaje, described the results as good results in view of the challenges in the operating environment, characterised by varying degrees of uncertainty and a rapidly changing competitive landscape.