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GTBank Plc records 1.80% increase in 2020 9M interest income
GT Bank Plc recorded increased interest income in the period under consideration, although, fees and commission income declined.

Published
4 months agoon

GT Bank Plc reported interest income of N228.23 billion in 2020 9M compared to N224.19 billion same period in 2019 – an increase of 1.80%.
Key highlights for 2020 9M
- Interest income increased to N228.23 billion +1.80% YoY
- Interest income on effective rate increased to N219.54 billion, +0.09% YoY
- Interest income on financial assets increased to N8.68 billion, +79.60% YoY
- Income from fees and commission income decreased to N37.40 billion, -22.69% YoY.
- Income from net gains on financial instruments increased to N18.99 billion, +96.89% YoY.
- Revenue from other income increased to N45.34 billion, +3.46% YoY.
- Net impairment charge increased to N3.11 billion, +2709.95% YoY.
- Loan impairment charges increased to N10.14 billion, + 267.35% YoY.
- Fees and commission expense increased to N4.67 billion, +148.45% YoY.
- Other operating expenses increased to N60.07 billion, +9.92% YoY.
- Depreciation and amortization increased to N21.57 billion, +39% YoY.
- Pre-tax profits decreased to N167.35 billion, -1.93% YoY.
- Earnings Per Share declined to N5.02, -3.28% YoY.
(READ MORE: Nigerian Stocks earn a whopping N2.1 trillion W/W)
What they are saying
He further stated that, “As an organization, we will continue to build on our commitment to enriching lives by leveraging our digital-first customer-centric strategy to improve customer experience and maintain a high standard in service delivery, and going beyond banking to create and drive innovative financial solutions that add value to our customers in all aspects of their lives.”
Bottom Line
GT Bank Plc recorded increased interest income in the period under consideration; although, fees and commission income declined. Even though the company recorded increased interest income, pre-tax profits and EPS declined in the period under consideration.
Adeyemi holds a PhD in Accounting Sciences. He has worked in the Educational Sector and as an Independent Consultant.


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Company Results
Rak Unity Petroleum Company Plc Posts N63 million loss in 2020 FY results
Rak Unity Petroleum Company Plc reported revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.

Published
1 month agoon
February 2, 2021
Rak Unity Petroleum Company Plc released its 2021 FY results reporting total revenue of N1.41 billion representing a 68.14% decline from the N4.42 billion revenue reported a year earlier.
- Operating expenses during the year was N149.65 million in 2020 compared to N221.89 million in 2019. –32.56% YoY
- The company reported a loss after tax of N63.02 million in 2020 compared to N14.52 million loss after tax in 2019.
- It reported a loss per share of N1.11 in 2020 compared to N0.26 loss per share reported in 2019.
- No dividend announcement was made in their press release.
- The company share price of N0.30 unchanged YTD.
See link to results here
Company Results
Conoil posts 23% post-tax profit decline in 2020 FY results
Conoil Plc reported a revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.

Published
1 month agoon
February 2, 2021
Conoil Plc released its 2021 FY results reporting revenue of N117.47 billion representing a 15.95% decline from the N139.76 billion revenue reported a year earlier.
- Operating expenses during the year was N7.64 billion in 2020 compared to N9.68 billion in 2019. –20.9% YoY
- The company reported a profit after tax of N1.52 billion in 2020 compared to N1.97 billion in 2019. –22.97% cut YoY.
- It reported an earnings per share of 219 kobo in 2020 compared to 284 kobo earnings per share reported in 2019. –22.89% YoY.
- No dividend announcement was made in their press release.
- The company share price of N20.85, up +0.72% YTD.
See link to results here
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Oluyemisi
November 20, 2020 at 7:58 am
But they will tell you they don’t see customers e-dividend form so that the money in the deposit can increase and name it unclaimed dividend