GTB profit rose to N201.43 billion
Guaranty Trust Bank Plc released its audited financial results for the year ended December 31, 2020, announcing a 2.8 per cent increase in Profit Before Tax (PBT) to N238.1 billion.
The result published on the Nigerian Stock Exchange (NSE) website showed that the gross earnings increased to N455.22 billion from N435.30 billion.
Profit for the year increased to N201.43 from N196.84 recorded in 2019.
Net interest income stood at N253.668 billion during the period under review against N291.66 billion in 2019.
The group’s loan book grew by 10.7 per cent to N1.66 trillion from N1.50 trillion achieved in the corresponding period of 2019.
Customers’ deposits increased by 38.6 per cent to N3.51 trillion from N2.53 trillion in December 2019.
Also, loan and advances to customers stood at N1.66 trillion in contrast with N1.50 trillion in 2019.
Total assets and shareholders’ funds closed at N4.95 trillion and N814.4 billion, respectively.