GTBank Declares N69.2b Profit-after-Tax in 3rd QuarterBusiness Friday, October 25th, 2013
By Frank Omalapeh
Guaranty Trust Bank, one of the Nigerian leading banks, has announced a 9 per cent percent increase in 2013 third quarter reports.
In the reports, the bank’s revenue went up by 9% representing NGN181.9bn in 3Q 2013 from NGN166.4bn in 3Q 2012
Profit Before Tax (PBT) up by 7% at NGN82.3bn from NGN76.8bn in Q3 2012.
Meanwhile, Profit after Tax (PAT) up 9% to hit NGN69.2bn from 63.7bn in 2012 financial year. Customers’ deposits grew by 10% at 1trillion Naira.
However, a market analyst wants the bank to explain to its numerous customers and shareholders why its cash and cash equivalents decline by -25% and operating expenses grew by 9%.
GTBank was the 2012 Nigeria Bank of the Year.
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