Guaranty Trust Bank Plc (GTBank) has released its unaudited financial statements for the period ended March 31, 2020. As always, we hereby bring you the key highlights from the earnings report.
Total assets/liabilities: GTBank declared total assets of N4.06 trillion for Q1 2020, as against N3.76 trillion in Q1 2019. On the other hand, the tier-1 bank’s total liabilities stood at N3.4 trillion in Q1 2020 as against N3.07 trillion in Q1 2019.
GTBank’s PBT & PAT: The bank’s profit before tax stood at N58.2billion, climbing up by 2.1% as against N57.0 billion recorded in the first quarter of 2019. Meanwhile, profit after tax stood at N50.07billion, as against N49.3 billion recorded in the first quarter of 2019.
In addition, GTBank’s Loan Book grew by 8.0 % to N1.622 trillion in March 2020. Also, customers’ deposits grew by 9.3% to N2.77 trillion in Q1 2020, up from N2.53 trillion in the same period in 2019.
Net Interest Income of N64.28 billion was recorded in Q1 2020 as against N53.58 billion in Q1 2019.
Net fee and Commission Income of N13.55 billion was realised in Q1 2020 as against N18.01billion in Q1 2019.
Guaranty Trust Bank Plc, also known as GTBank or simply GTB, is a Nigerian multinational financial institution that offers online/internet banking, retail banking, corporate banking, investment banking, and asset management services. The company’s headquarters is in Victoria Island, Lagos.
You may download the full report here.