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Home Markets Equities Company Results

GTBank revenue for H1, 2020 rises to N225.14 billion

Olumide AdesinabyOlumide Adesina
2 years ago
in Company Results
GTBank Sponsors 2020 Lagos International Polo Tournament, Buying opportunity as GTB share price falls to 2 year low, GTBank releases 2019 full year audited results, Guaranty Trust Bank Plc to consider a holding company structure, GTBank launches Beta Health, expands access to health insurance for low-income Nigerians
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Guaranty Trust Bank’s revenue for the half-year of 2020 stood at N225.14 billion as against 221.87 billion recorded in the same corresponding period of 2019.

However, Nigeria’s leading lender’s Profit Before Tax for H1,2020 stood at N109.7 billion as against N115.8 billion recorded in the same corresponding period of 2019, showing a decline of about 5.2%.

READ: Dangote Sugar Refinery: Revenue soars amid rising cost of sales

Its Profit After Tax stood at N94.3 billion in H1, 2020 as against N99.1billion recorded in the same corresponding period of 2019.

These were disclosed in the statement issued by the tier-1 bank to the Nigerian Stock Exchange (NSE) on Wednesday.

READ: Union Bank canters onward despite gallop from COVID-19

It should also be noted that the Board of Directors of Nigeria’s most valuable bank by market value proposed an interim dividend payment of 30 kobos per ordinary share on the issued capital of 29,431,179,224 Ordinary Shares of 50 Kobo each payable to Shareholders on the register of shareholding at the closure date.

Just recently the N755 billion market capitalized bank listed on the Nigerian Stock Exchange and also on the London Stock Exchange, disclosed in a note to its GDR holders that the institution which serves as custodian for this shares corresponding to these certificates (Citibank Nigeria) is awaiting authorization from the Central Bank to transfer dividends for the 2019 financial year in dollar terms.

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Shortly after the release of  Guaranty Trust Bank earning result for H1, 2020, the share price rose slightly higher by 0.20% to close at N25.65

What you should know; A dividend is a payment made by a company to its shareholders, usually as a distribution of profits.

When a company earns a profit or surplus, it reinvests a portion of the profit in the business (retained earnings) whilst paying a portion as dividends to the shareholders.

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Tags: Citibank NigeriaGTBankGuaranty Trust BankLondon Stock ExchangeNigerian Stock Exchange

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