Home Business GTBank Reports N201.44bn Profit in 2020

GTBank Reports N201.44bn Profit in 2020

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Guaranty Trust Bank Plc (GTBank) plc has reported 2.33 per cent increase in profit to N201.44billion in its audited full year result for period ended December 31, 2020 as against N196.86billion reported in prior year.

The lender in its results to the Nigerian Stock Exchange (NSE) on Thursday started that its profit before tax grew by 2.76 per cent to N238.10billion in 2020 as against N231.71billion reported in 2019.

With impressive profits, the management of GTBank proposed final dividend of N2.70, eight per cent higher when compared to N2.50 per declared in 2019.

As gathered by Western Post, gross earnings of GTBank gained 4.58 per cent from N435.31billion in 2019 to N455.25billion reported in 2020.

From the balance sheet position, the bank reported 31.54 per cent growth in total Assets to N4.94trillion in 2020 from N3.76trillion reported in 2019.

..more details later

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