According to Mr Segun Agbaje, Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Guaranty Trust Bank, now Guaranty Trust Holding Company Plc, made a profit before tax of N93.1 billion for the six months ended June 30.
Agbaje revealed the company’s audited financial figures for the month ended June 30 in Lagos on Friday, noting that the group’s PBT was down 15.2 per cent from the N109.7 billion achieved in the same time in 2020.
Profits also fell to N79.41 billion in the year under review, down from N94.27 billion in the same period in 2020.
Agbaje said, “The results reflect our commitment to building on our track record of solid financial performance, and our capability to constantly innovate will ensure we stay ahead of the curve at all times.
“We are counting on the enduring support of our loyal customers and the hard work of our dedicated staff to continually make end-to-end financial services easily accessible to everyone and to create the best outcomes for all our customers and the communities in which we operate”.
“Looking forward, we are focused on bringing to bear the full benefits of our new corporate structure by consolidating our leading position in all the economies where our franchise operates”.
“We will also diversify our earnings from core banking, continue to empower businesses across Africa and beyond, and generate long-term returns for our shareholders,” he said.
Gross earnings fell to N207.91 billion in the fiscal year under review, compared to N225.13 billion in the prior year.
Agbaje further indicated that the Group’s balance sheet structure and earning capability remained stable, with total assets closing at N5.01 trillion, owing to a 4% increase in deposit liabilities to N3.75 trillion on June 30 from N3.61 trillion in December 2020.
According to him, loans (net) fell by 1.8 per cent from N1.66 trillion in December 2020 to N1.63 trillion on June 30, 2021.
Although the Full Impact Capital Adequacy Ratio (CAR) remained very strong, ending at 24.0 per cent, Agbaje ascribed the drop in earnings to the current realities of the operating environment.
Meanwhile, the Board of Directors has suggested a 30 thousand dollar interim dividend per ordinary share of 50 thousand dollars.