GRTB.L Regulatory News (GRTB)

Statement of Financial Position as at

Group

Group

Bank

Bank

30 September, 2012

Sept 2012

Dec 2011

Sept 2012

Dec 2011

N'million

N'million

N'million

N'million

ASSETS

Cash and cash equivalents

253,346

368,282

218,373

330,294

Loans and advances to banks

339

159

274

159

Loans and advances to customers

776,639

706,893

735,024

679,359

Financial assets held for trading

208,226

173,298

195,271

151,819

Investment securities

-Available for sale

3,054

3,745

3,054

3,745

- Held to maturity

136,756

161,196

137,615

163,914

Investment in subsidiaries

-

-

22,541

16,234

Assets pledged as collateral

26,402

45,588

26,402

45,588

Property and equipment

54,906

51,602

49,631

47,342

Intangible assets

1,352

1,006

1,192

763

Deferred tax assets

865

97

-

-

Other assets

127,238

87,007

120,711

80,811

1,589,123

1,598,873

1,510,088

1,520,028

Asset classified as held for sale and discontinued operations

-

9,779

-

3,500

Total Assets

1,589,123

1,608,652

1,510,088

1,520,028

LIABILITIES

Deposits from banks

1,732

37,229

586

21,636

Deposits from customers

1,071,533

1,026,119

993,489

962,486

Debt securities issues

88,479

145,768

13,675

13,233

Current income tax liabilities

8,855

14,063

8,849

13,760

Deferred tax liabilities

4,880

3,408

4,875

3,309

Other liabilities

58,843

48,707

49,159

41,661

Other borrowed funds

90.957

93,230

170,087

229,647

1,325,279

1,368,524

1,240,720

1,285,732

Liabilities included in asset classified as held for sale and discontinued operations

-

6,120

-

-

TOTAL LIABILITIES

1,325,279

1,374,644

1,240,720

1,285,732

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

40,929

28,746

46,924

35,176

Other components of equity

85,725

67,121

84,257

35,176

EQUITY ATTRIBUTABLE TO EQUITY HOLDERS OF THE PARENT

262,794

232,007

269,368

237,796

 Non-controlling interest

1,050

2,001

TOTAL EQUITY

263,844

234,008

269,368

237,796

TOTAL EQUITY AND LIABILITIES

1,589,123

1,608,652

1,510,088

1,523,528

Income statement for 9 months ended 30th September 2012

Group

Group

Group

Bank

Bank

Bank

Sept 2012

Sept 2011

Dec 2011

Sept 2012

Sept 2011

Dec 2011

N'million

N'million

N'million

N'million

N'million

N'million

Interest income

124,884

90,687

126,472

118,645

87,047

119,017

Interest expense

(29,029)

(18,689)

(27,921)

(27,206)

(17,367)

(25,430)

Net interest income

95,855

71,998

98,551

91,439

69,680

93,587

Loan impairment charges

(3,376)

(10,025)

(19,503)

(2,014)

(9,892)

(18,662)

Net interest income after loan impairment charges

92,479

61,973

79,047

89,425

59,788

74,925

Fee and commission income

35,573

32,862

43,810

30,508

30,578

39,057

Fee and commission expense

(1,421)

(2,392)

(2,188)

(1,205)

(2,309)

(2,172)

Net fee and commission income

34,152

30,470

41,622

29,303

28,188

36,885

Net gains/(losses) on financial instruments classified as held for trading

3,647

4,191

6,843

3,258

3,298

4,878

Other operating Income

1,991

4,624

5,575

2,230

5,970

9,940

Other income

5,638

8,815

12,419

5,488

9,271

14,818

Operating income

132,269

101,258

133,087

124,216

97,247

126,628

Personnel expenses

(15,462)

(15,430)

(20,484)

(12,451)

(12,083)

(15,962)

General and administrative expenses

(15,856)

(16,771)

(21,621)

(15,300)

(15,890)

(19,779)

Operating lease expenses

(535)

(487)

(830)

(535)

(391)

(576)

Depreciation and amortization

(6,380)

(5,322)

(7,456)

(5,817)

(4,910)

(6,742)

Other operating expenses

(17,144)

(13,900)

(20,616)

(14,531)

(12,984)

(18,824)

Total expenses

(55,377)

(51,910)

(71,007)

(48,634)

(46,258)

(61,883)

Profit before income tax

76,892

49,348

62,080

75,582

50,989

64,745

Income tax expense

(13,158)

(12,438)

(14,277)

(12,550)

(11,292)

(13,092)

Profit for the period from continuing operations

63,734

36,910

47,803

63,032

39,697

51,653

Profit for the period from discontinued operations

609

811

3,938

-

-

-

Profit for the period

64,343

37,721

51,742

63,032

39,697

51,653

Profit attributable to:

Equity holders of the parent entity (total)

64,104

37,389

51,204

63,032

39,697

51,653

-Profit for the period from continuing operations

63,544

36,650

47,516

63,032

39,697

51,653

-Profit for the period from discontinued operations

560

739

3,687

-

-

-

Non-controlling interests (total)

239

332

538

-

-

-

-Profit for the period from continuing operations

190

332

287

-

-

-

-Profit for the period from discontinued operations

49

261

251

-

-

-

63,343

37,721

51,742

63,032

39,697

51,653

STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30 SEPTEMBER 2012

Group

Group

Group

Bank

Bank

Bank

Sept 2012

Sept 2011

Dec 2011

Sept 2012

Sept 2011

Dec 2011

N'million

N'million

N'million

N'million

N'million

N'million

Profit for the period

64,343

37,721

51,742

63,032

39,697

51,653

--Foreign currency translation differences for foreign operations

 (2,773)

297

200

-

-

-

-Net change in fair value of available for sale financial assets

1,221

(3,010)

(3,452)

1,221

(3,010)

(1,558)

-Income tax relating to component of other comprehensive income

499

690

731

(306)

779

(1,163)

Other comprehensive income for the period, net of tax

(1,053)

(2,023)

(2,521)

915

(2,231)

(2,721)

Total comprehensive income for the period

63,290

35,698

49,221

63,947

37,466

48,932

Total Comprehensive income attributable to:

Equity holders of the parent entity (total)

63,161

35,369

48,682

63,947

37,466

48,932

 - Total comprehensive income for the period from continuing

operations

62,601

34,809

44,995

63,947

37,466

48,932

 - Total comprehensive income for the period from discontinued

operations

560

560

3,687

-

-

-

Non-controlling interests (total)

129

329

539

-

-

-

 - Total comprehensive income for the period from continuing

operations

80

78

288

-

-

-

 - Total comprehensive income for the period from discontinued

operations

49

251

251

-

-

-

Total comprehensive income for the period

63,290

35,698

49,221

63,947

37,466

48,932

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

2.25

1.30

1.69

2.14

1.41

1.83

- Diluted

2.25

1.30

1.69

2.14

1.41

1.83

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

-

0.03

0.13

-

-

-

- Diluted

-

0.03

0.13

-

-

-

Total impaired Loans and Advances (N'million)

27,829

44,354

22,994

24,484

44,013

22,994

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

3.61%

6.50%

3.14%

3.23%

6.48%

3.27%

Net Earnings

133,690

103,650

135,275

125,421

99,637

128,800

GTBank

+234-1-2714591

Lola Odedina, Head, Communications & External Affairs

Pascal Or

MuyiwaTeriba, Investor Relations

+234-1-4484156

College Hill

+44 (0) 20 7457 2020

Tony Friend

Antonia Coad