The Board of Directors of GTBank Plc has announced that it would meet to consider the close period of trading with effect from September 30, 2019, in respect of the company’s third-quarter financial statements.
This was disclosed in a notification which was sent to the Nigerian Stock Exchange (NSE).
The lender also revealed that the meeting for this purpose would hold on October 16, 2019.
Why this matters: The close period will allow the board to consider the company’s unaudited financial statements for the third quarter. Other company issues will also be discussed during the meetings.
What is a close period?
A close period is a period before the release of a company’s result or financial statement when of course, those with sensitive information are not allowed to trade on the stock. These individuals may include company directors, audit committee members, persons discharging managerial responsibility, employees and consultants with sensitive information.
Last month, the lender hinted on expanding its market base beyond its current location. The bank was considering the East African region even though it did not reveal the exact country to be precise. This move (if successful) will increase the bank’s base to 10 countries in Sub-Saharan Africa.
A look into the bank’s financials: The expansion move is coming on the back of a 3.7% increase in Profit After Tax which hit N99.1 billion in June 2019 as against N95.6 in June 2018. Its Earnings Per Share (EPS) grew to N3.50 in June 2019, up from N3.38 in the comparable period in June 2018.
The company also declared an interim dividend of 30 kobo per ordinary share of 50 kobo for the period ended Sunday, June 30, 2019 (Half-Year).
Established in 1990, on a foundation of excellence, professionalism and best practices, Guaranty Trust Bank plc is a foremost Financial Institution with business outlays spanning Anglophone and Francophone West Africa, East Africa and Europe. The bank presently has an Asset Base of over N3.287 trillion and employs over 10,000 professionals in Nigeria, Cote D’Ivoire, Gambia, Ghana, Liberia, Kenya, Rwanda, Uganda, Sierra Leone, Tanzania and the United Kingdom.
The Bank’s consistent delivery of innovative financial solutions and exceptional customer experiences has enabled it to record year on year growth in clientele base and key financial indices since inception.