GT Bank Posts N165.14bn Profit In 2016
Guaranty Trust Bank Plc has declared a stunning N165.14 billion profit before tax for 2016, resulting to a 37 per cent growth in that financial year.
The bank, which raked in about N120.69 billion in 2015, said it achieved the new feet due to growth in its interest and foreign exchange income.
In a statement in Lagos, the financial institution said its gross earnings skyrocketed from N301.85 billion in December 2015 to N414.62 billion in the period under review.
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The statement further indicated that the bank’s balance sheet remained strong with a 19.7 per cent growth in total assets and contingents.
The bank thereby closed 2016 with a total assets and contingents of N3.70 trillion and shareholders’ funds of N504.9 billion.
“The financial performance in 2016 demonstrated the fundamental strength of its business to deliver sustainable long-term growth,” the statement quoted the bank’s Managing Director, Segun Agbaje, as saying.
“We are transforming our organisation into a platform for enriching lives by positioning ourselves at the centre of an extended ecosystem that offers our stakeholders benefits beyond banking.
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“We also remain committed to maximising shareholders’ value and delivering superior and sustainable return, guided by our founding values of hard work, discipline and integrity,” Agbaje said.
