GRTB.L Regulatory News (GRTB)

Statements of Financial Position

Group

Group

Parent

Parent

as at 30 September 2015

Sep-15

Dec-14

Sep-15

Dec-14

N'million

N'million

million

N'million

ASSETS

Cash and cash equivalents

255,106

246,940

158,066

161,779

Financial assets held for trading

14,699

9,416

7,067

5,676

Derivative financial assets

-

529

-

529

Investment securities:

- Available for sale

328,362

344,702

303,704

317,750

- Held to maturity

27,812

35,161

3,883

4,511

Assets pledged as collateral

59,296

39,179

59,296

39,174

Loans and advances to banks

16

5,696

16

31

Loans and advances to customers

1,281,642

1,275,681

1,176,194

1,182,394

Investment in subsidiaries

-

-

41,906

40,130

Property and equipment

80,398

76,236

70,134

68,042

Intangible assets

12,794

12,516

2,377

2,418

Deferred tax assets

1,264

2,358

-

-

Restricted deposits and other assets

397,058

307,462

382,966

304,174

TOTAL ASSETS

2,458,447

2,355,876

2,205,609

2,126,608

LIABILITIES

Deposits from banks

33,601

31,662

114

144

Deposits from customers

1,600,575

1,618,208

1,414,455

1,439,522

Financial liabilities held for trading

1,765

-

1,765

-

Derivative financial liabilities

-

253

-

253

Other liabilities

60,916

57,200

42,558

47,714

Current income tax liabilities

9,616

11,209

10,577

12,658

Deferred tax liabilities

5,188

4,392

5,172

3,956

Debt securities issued

182,890

167,321

-

-

Other borrowed funds

163,227

91,299

339,178

252,831

TOTAL LIABILITIES

2,057,778

1,981,544

1,813,819

1,757,078

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

(4,331)

(3,988)

-

-

Retained earnings

58,553

61,043

56,795

58,442

Other components of equity

202,073

173,411

196,808

172,901

Capital and reserves attributable to equity holders of the parent entity

394,482

368,653

391,790

369,530

Non-controlling interests in equity

6,187

5,679

-

-

TOTAL EQUITY

400,669

374,332

391,790

369,530

TOTAL EQUITY AND LIABILITIES

2,458,447

2,355,876

2,205,609

2,126,608

Income Statements

Group

Group

Parent

Parent

 for the period ended

Sep 2015

Sep 2014

Sep 2015

Sep 2014

 30 September 2015

N'million

N'million

N'million

N'million

Interest income

172,964

148,187

156,225

134,007

Interest expense

(52,834)

(42,851)

(47,229)

(38,112)

Net interest income

120,130

105,336

108,996

95,895

Loan impairment charges

(8,516)

(6,287)

(8,400)

(5,748)

Net interest income after loan impairment charges

111,614

99,049

100,596

90,147

Fee and commission income

39,657

38,296

33,739

33,380

Fee and commission expense

(2,121)

(1,499)

(1,849)

(1,243)

Net fee and commission income

37,536

36,797

31,890

32,137

Net gains on financial

instruments classified as held

for trading

9,794

9,381

7,485

6,931

Other income

6,958

3,374

7,672

5,173

Net impairment reversal on

financial assets

3

234

3

234

Personnel expenses

(21,491)

(20,364)

(15,623)

(15,814)

Operating lease expenses

(1,111)

(885)

(511)

(388)

Depreciation and amortization

(9,152)

(8,549)

(7,955)

(7,882)

Other operating expenses

(42,089)

(38,337)

(37,745)

(33,453)

Profit before income tax

92,062

80,700

85,812

77,085

Income tax expense

(16,902)

(13,957)

(14,588)

(12,030)

Profit for the period

75,160

66,743

71,224

65,055

Profit attributable to:

Equity holders of the parent

entity

74,564

66,274

71,224

65,055

Non-controlling interests

596

469

-

-

75,160

66,743

71,224

65,055

Statements of other comprehensive

income for the period ended

Group

Group

Parent

Parent

30 September 2015

Sep 2015

Sep 2014

Sep 2015

Sep 2014

N'million

N'million

N'million

N'million

Profit for the period

75,160

66,743

71,224

65,055

Other comprehensive income to be reclassified to profit or loss in subsequent periods:

- Foreign currency translation

differences for foreign

operations

787

(4,664)

-

-

- Income tax relating to foreign

currency translation

differences for foreign

operations

(236)

1,399

-

-

- Net change in fair value of

available for sale financial

assets

3,386

(1,116)

3,385

(923)

- Income tax relating to

net change in fair value of

available for sale financial

assets

(846)

335

(845)

276

Other comprehensive income

 for the period, net of tax

3,091

(4,046)

2,540

(647)

Total comprehensive income

for the period

78,251

62,697

73,764

64,408

Profit attributable to:

Equity holders of the parent entity

77,677

62,411

73,764

64,408

Non-controlling interests

574

286

-

-

Total comprehensive income

for the period

78,251

62,697

73,764

64,408

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

2.65

2.35

2.42

2.21

- Diluted

2.65

2.35

2.42

2.21

Gross Earnings

229,373

199,238

205,122

179,491

Sep 2015

Dec 2014

Sep 2015

Dec 2014

Total impaired Loans and Advances (N'million)

41,471

41,309

34,984

32,616

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

3.16%

3.15%

2.91%

2.70%

Key Ratios

9M-2015

9M -2014

ROE(post-tax)

25.86%

26.37%

ROA(post-tax)

4.16%

4.10%

ROE (pre-tax)

31.68%

31.88%

ROA (pre-tax)

5.10%

4.96%

Net interest margin

8.22%

8.21%

Cost-to-income ratio

44.51%

45.78%

9M-2015

FY-2014

Loans to deposits

80.07%

78.83%

Liquidity ratio

43.95%

40.07%

Capital adequacy ratio

20.76%

21.40%

NPL/Total Loans

3.16%

3.15%

Cost of risk

0.65%

0.97%

Coverage (with Reg. Risk Reserves)

141.19%

143.22%

GTBank

Golden Nwaiwu, Investor Relations

ir@gtbank.com

+234-1-4484156

Lola Odedina, Head, Communications & External Affairs

+234-1-2715227

Oyinade Adegite

cea@gtbank.com

Instinctif Partners

+44 20 7457 2020

Mark Garraway

Mark Walter