GT Bank Plc unaudited Q3 ended Sept. 30th, 2017: Net Income Appreciated by 7.26%.

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GT Bank Plc reported her unaudited Q3 ended September 30th 2017 results to the market yesterday. Closer analysis reviewed that gross earnings came in lower by 5.88%, while net income appreciated by 7.26%.
Net income was significantly impacted by improved return on net interest margin which stands at 61.16%.  
Cost to income stands at 29.4% against 25.14% posted in Q3 ’16. It was mostly impacted by one-off settlement of AMCON levy for 2017.   
Kindly click on this link to see full details on the Corporate Brief of the firm.

Key Highlights:

  • GT Bank gross earnings came in marginally down by 5.88% while net income rose by 7.26% in Q3 ’17.
  • Net income was significantly impacted by improved return on net interest margin which stands at 61.16%.
  • Cost to income stands at 29.4% against 25.14% posted in Q3 ’16. It was mostly impacted by one-off settlement of AMCON levy for 2017.
  • Non-performing loans to total loan dropped to 3.93% compared to 4.13% in Q3 ‘16 and way below industry benchmark.
  • The bank loan-to-deposit ratio dropped to 72.46% against 77.89% in Q3 ’16 and mirrored the fact that deposit was low.
  • The bank was aggressive in the utilization financial assets to boost bottom line as reflected by 229.7% growth.
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