…Earns N109.7b Profit After Tax
…Declares 30kobo dividend per 50 Kobo ordinary share
By Dayo Omoogun
Guaranty Trust Bank Plc has reported a remarkable performance against the background of
COVID-19-pandemic- inflicted lull on the business environment globally.
In the report, sent online to its numerous shareholders, the bank said ” In spite of operating in a very challenging business environment coupled with the new realities imposed by the COVID-19 pandemic, we delivered a good performance in the first half of the year.
” The Bank’s loan book grew by 8.1% from N1.502 trillion recorded as at December 2019 to N1.624 trillion in June 2020 while customer deposits increased by 18.5% to N3 trillion from N2.533 trillion as at December 2019″.
Despite the paralysing effect of the pandemic which held businesses comatose for a reasonable part of the half-year being reported, the bank still earned 109.7billion as Profit-After-Tax compared to N115.8bn in the corresponding period of the previous year representing a 5% decrease.
Other vital performance indicators at June 30, 2020 show that the Bank’s total assets stand at N4.511 trillion, shareholders funds at N720.9 bn, return on Equity 26.8% and return on Assets 4.6%.
The bank has proposed an interim dividend of 30 Kobo to every 50 Kobo ordinary share adding that shareholders’ accounts will be credited on Monday 21st September 2020.