Wednesday, 10 April 2013

GTBank Group records $650 million Profit

GTBank Group records $650 million ProfitGTBank Plc, Nigeria, parent company of Guaranty Trust Bank (Ghana) Limited, has recorded impressive group profit of $650 million for the year 2012.

The remarkable performance by GTBank has been touted by analysts as “a good show of financial dexterity and superiority” especially when the group is made up of only six subsidiaries in African and the United Kingdom.

The Bank, a foremost Nigerian Financial Institution with footprints in Ghana, The Gambia, Sierra Leone, Liberia, Cote d’Ivoire and the United Kingdom released its audited financial results for the December 2012 financial year to operators of the Nigerian Stock Exchange and reported a profit before tax of N103 billion ($650 million), the highest for any Nigerian Bank Group.

According to analysts at the Nigerian bourse, this performance and an in-depth analysis of the results, which were recently approved by the Central Bank of Nigeria, confirm GTBank as the first and only Nigerian bank to cross the N100 billion ($630 million) Profit Before Tax milestone from continuing operations at both Bank and Group levels.

Chief Executive Officer of GTBank plc, Segun Agbaje, attributed the Bank’s success to its adherence to a defined growth plan, high corporate governance standards and the cultural values for which it is known.

He said these factors, coupled with a resourceful board, an in-depth understanding of the market and the passion of GTBank employees have enabled the Bank grow market share and continue to avail its stakeholders with value adding services.

Managing Director of Guaranty Trust Bank Ghana, Lekan Sanusi, relating the success of the Group to business in the Ghana subsidiary explained that, the impressive performance chalked by GTBank plc is a reflection of how well the Bank is doing locally and across other subsidiaries.

“The Group’s result in 2012 is an attestation of the continued confidence reposed in GTBank by its customers in doing business with us. It shows the size of our Bank, the strength of our brand and provides an assurance of our ability and capabilities in handling big ticket transactions”, he stated.

Guaranty Trust Bank plc was established in 1990 and is regarded by Industry watchers as the best run financial institution within the Nigerian Financial Services space, due to its bias for world class corporate governance standards, excellent service quality and innovation.

The Bank operates from over 200 branches within the country alone and the other subsidiaries including Ghana.

Within the seven years of its operations in the country, the Ghana subsidiary has gradually risen to become a reference point and role model in the industry.

It presently operates from 23 branches located across six regions and is known for its superior customer service delivery, robust and reliable e-banking platform, unrivalled product innovations and its comparatively quick turnaround times.

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