GTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend

Must Read

How To Block Your Bank Account And SIM Card In Case Of Emergency

Losing your phone and wallet or having them stolen can be very frustrating. However, in case that happens to...

List of United Bank for Africa (UBA) Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is held. The sort...

List of Access Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number which usually identifies both the bank and the branch where an account is...
- Advertisement -

Guaranty Trust Bank Plc (GTBank) released its Q2 2020 results announcing a pre-tax profit of N109.7 billion for the period ended June 30th, 2020.

Highlights

  • Gross Earnings grew by 1.5% to N225bn from N222bn in the last quarter.
  • Profit before tax declined by 5.2% to N109.7bn.
  • Profit after tax declined by 7.3% to N94bn.
  • Net Assets grew by 4.9% from N687bn to N721bn.

GTBank recorded an improvement in the gross earnings for the period, N225.1 billion in H1 2020 versus N221.9 billion in H1 2019.

The lender’s interest income rose to N150.5 billion from N146.5 billion, while the interest expense reduced to N26.1 billion from N32.6 billion, with the net interest income at N127.6 billion in contrast to N116.4 billion in the first half of 2019.

Also, the net interest income after loan impairment charges stood at N120.9 billion as of June 30, 2020, compared with N114.2 billion as of June 30, 2019.

GTBank stated that its personnel expenses slightly jumped to N18.8 billion from N18.6 billion as a result of an increase in the wages and salaries, which gulped N16.7 billion in H1 2020 versus N16.2 billion in H1 2019.

Read Also:  World Class Chefs Thrill at 2019 GTBank Food and Drink Fair
- Advertisement -

The board of GTBank proposed the payment of 30 kobo per share as an interim dividend to reward its shareholders.

- Advertisement -
GTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend - Brand SpurGTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend - Brand Spur
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

GTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend - Brand SpurGTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend - Brand Spur

Latest News

MTN Nigeria Ends 2020 with 76.5 Million Subscribers; Data Revenue Rises by 51.2% to N332.37 Billion

MTN Nigeria Communications Plc (MTN Nigeria) announces its audited for the financial year ended 31 December 2020. MTN Nigeria’s...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -GTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend - Brand SpurGTBank Reports N94bn PAT in H1 2020; 30 Kobo Interim Dividend - Brand Spur