GRTB.L Regulatory News (GRTB)

Group

Group

Parent

Parent

Mar 2014

Dec 2013

Mar 2014

Dec 2013

ASSETS

Cash and cash equivalents

332,177

307,396

268,639

228,610

Loans and advances to banks

6,986

5,596

17

17

Loans and advances to customers

1,008,327

1,002,371

932,455

926,967

Financial assets held for trading

11,029

17,224

6,989

13,747

Derivative financial assets

-

170

-

170

Investment securities:

- Available for sale

388,800

374,673

364,941

364,056

- Held to maturity

80,128

84,742

45,866

46,682

Assets pledged as collateral

39,760

28,443

39,760

28,441

Investment in subsidiaries

-

-

40,130

40,130

Property and equipment

71,204

68,306

64,345

61,420

Intangible assets

11,492

11,214

2,452

2,257

Deferred tax assets

2,195

1,946

-

-

Restricted deposits and other assets

252,662

200,766

238,184

191,869

TOTAL ASSETS

2,204,760

2,102,847

2,003,778

1,904,366

LIABILITIES

Deposits from banks

16,093

15,208

46

89

Deposits from customers

1,473,114

1,427,494

1,307,865

1,261,927

Derivative financial liabilities

-

4

-

4

Other liabilities

86,980

61,015

71,470

49,008

Current income tax liabilities

17,500

13,074

17,057

12,633

Deferred tax liabilities

4,936

5,066

4,784

4,784

Debt securities issued

163,933

156,498

13,672

13,234

Other borrowed funds

89,312

92,135

237,764

233,040

TOTAL LIABILITIES

1,851,868

1,770,494

1,652,658

1,574,719

CAPITAL AND RESERVES

Share capital

14,716

14,716

14,716

14,716

Share premium

123,471

123,471

123,471

123,471

Treasury shares

(2,047)

(2,047)

-

-

Retained earnings

70,918

55,205

70,201

55,079

Other components of equity

140,681

135,924

142,732

136,381

Capital and reserves attributable to equity holders of the parent entity

347,739

327,269

351,120

329,647

Non-controlling interests in equity

5,153

5,084

-

-

TOTAL EQUITY

352,892

332,353

351,120

329,647

TOTAL EQUITY AND LIABILITIES

2,204,760

2,102,847

2,003,778

1,904,366

Group

Group

Group

Parent

Parent

Parent

Mar 2014

Mar 2013

Dec 2013

Mar 2014

Mar 2013

Dec 2013

Interest income

48,528

45,270

185,383

43,730

42,329

172,433

Interest expense

(13,790)

(11,827)

(48,444)

(12,227)

(10,975)

(44,576)

Net interest income

34,738

33,443

136,939

31,503

31,354

127,857

Loan impairment charges

(1,276)

(1,268)

(2,886)

(1,114)

(917)

(2,913)

Net interest income after loan impairment charges

33,462

32,175

134,053

30,389

30,437

124,944

Fee and commission income

12,368

13,358

46,632

10,672

12,181

40,189

Fee and commission expense

(638)

(288)

(1,824)

(552)

(272)

(1,719)

Net fee and commission income

11,730

13,070

44,808

10,120

11,909

38,470

Net gains/(losses) on financial instruments

classified as held for trading

3,524

2,642

7,686

2,935

2,176

5,396

Other income

3,157

2,594

2,963

2,937

2,199

3,582

Net impairment loss on financial assets

-

(214)

119

-

(214)

119

Personnel expenses

(6,612)

(5,459)

(23,761)

(5,109)

(4,640)

(19,625)

General and administrative expenses

(6,234)

(6,535)

(22,550)

(5,458)

(6,242)

(20,078)

Operating lease expenses

(244)

(153)

(837)

(160)

(149)

(623)

Depreciation and amortization

(2,732)

(2,405)

(10,116)

(2,572)

(2,217)

(9,273)

Other operating expenses

(8,045)

(7,223)

(25,274)

(7,056)

(6,114)

(22,450)

Profit before income tax

28,006

28,492

107,091

26,026

27,145

100,462

Income tax expense

(4,896)

(5,936)

(17,067)

(4,424)

(5,429)

(14,916)

Profit for the period from continuing operations

23,110

22,556

90,024

21,602

21,716

85,546

Profit for the period from discontinued operations

-

-

-

-

-

-

Profit for the period

23,110

22,556

90,024

21,602

21,716

85,546

Profit attributable to:

Equity holders of the parent entity (total)

22,863

22,469

89,599

21,602

21,716

85,546

- Profit for the period from continuing operations

22,863

22,469

89,599

21,602

21,716

85,546

- Profit for the period from discontinued operations

-

-

-

-

-

-

Non-controlling interests (total)

247

87

425

-

-

-

- Profit for the period from continuing operations

247

87

425

-

-

-

- Profit for the period from discontinued operations

-

-

-

-

-

-

23,110

22,556

90,024

21,602

21,716

85,546

Group

Group

Group

Parent

Parent

Parent

Mar 2014

Mar 2013

Dec 2013

Mar 2014

Mar 2013

Dec 2013

Profit for the period

23,110

22,556

90,024

21,602

21,716

85,546

Other comprehensive income not

to be reclassified to profit or loss in

subsequent periods

- Actuarial gains and losses

-

-

656

-

-

656

- Income tax relating to actuarial gains and losses

-

-

(197)

-

-

(197)

Other comprehensive income not

to be reclassified to profit or loss in subsequent periods

- Foreign currency translation differences

for foreign operations

(3,294)

(410)

(1,040)

-

-

-

- Income tax relating to foreign currency

translation differences for foreign operations

988

123

312

-

-

-

- Net change in fair value of available

for sale financial assets

(377)

-

4,081

(184)

-

3,887

- Income tax relating to net change in fair

value of available for sale financial assets

113

-

(1,224)

55

-

(1,166)

Other comprehensive income for the period, net of tax

(2,570)

(287)

2,588

(129)

-

3,180

Total comprehensive income for the period

20,540

22,269

92,612

21,473

21,716

88,726

Profit attributable to:

Equity holders of the parent entity (total)

20,470

22,182

92,330

21,473

21,716

88,726

- Total comprehensive income for the

period from continuing operations

20,470

22,182

92,330

21,473

21,716

88,726

- Total comprehensive income for the

period from discontinued operations

-

-

-

-

-

-

Non-controlling interests (total)

70

87

282

-

-

-

- Total comprehensive income

for the period from continuing operations

70

87

282

-

-

-

- Total comprehensive income

for the period from discontinued operations

-

-

-

-

-

-

Total comprehensive income for the period

20,540

22,269

92,612

21,473

21,716

88,726

Earnings per share for the profit from continuing operations attributable to the equity holders of the parent entity during the period

(expressed in naira per share):

- Basic

0.81

0.80

3.17

0.73

0.74

2.91

- Diluted

0.81

0.80

3.17

0.73

0.74

2.91

Earnings per share for the profit from discontinued operations attributable to the equity holders of the parent entity during the period

(expressed in naira per share):

- Basic

-

-

-

-

-

-

- Diluted

-

-

-

-

-

-

Total impaired Loans and Advances (N'million)

35,348

28,299

36,989

27,707

22,542

27,707

Total impaired Loans and Advances to Loans and Advances (%)

3.40%

3.34%

3.58%

2.90%

2.83%

2.93%

Gross Earnings (N'million)

67,577

63,864

242,665

60,274

58,885

221,600

Mar-14

Mar-13

ROE (Post tax)

26.98%

30.60%

ROA (Post tax)

4.29%

5.05%

Net interest margin

8.30%

8.70%

Cost-to-income ratio

46.01%

43.32%

Loans to deposits

68.92%

68.13%

Liquidity ratio

46.31%

55.44%

Capital adequacy ratio

21.59%

23.80%

NPL/Total Loans

3.40%

3.34%

Cost of risk

0.49%

0.61%

Coverage (with Reg. Risk Reserves)

120.90%

115.70%

GTBank

Muyiwa Teriba, Head, Investor Relations

ir@gtbank.com

+234-1-4484156

Lola Odedina, Head, Communications & External Affairs

+234-1-2715227

Pascal Or

corpaff@gtbank.com

Instinctif Partners

+44 20 7457 2020

Tony Friend

Antonia Gray