George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGRTB.L Regulatory News (GRTB)

  • There is currently no data for GRTB

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

GTBank - 3rd Quarter Results

17 Oct 2018 16:54

RNS Number : 3951E
Guaranty Trust Bank PLC
17 October 2018
 

Guaranty Trust Bank Plc

 

UNAUDITED 9-MONTHS GROUP RESULTS FOR THE PERIOD ENDED SEPTEMBER 30, 2018: DECLARES A PBT OF N164.2BILLION

 

Lagos Nigeria - October 17, 2018 - Guaranty Trust Bank Plc ("GTBank"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG), provider of diversified financial services, announces its unaudited Financial Results, in accordance with IFRS, for the period ended 30 September 2018 and declares a PBT of N164.2bn.

 

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; "Despite operating in a very challenging business environment, our 3rd quarter result is a reflection of how we have appropriately positioned our balance sheet to cope with economic realities. It further demonstrates the strength of our business strategy to deliver financial services that enriches the lives of our customers and creates more value for all our stakeholders."

 

He added that, "Going into the final quarter of the year, the Bank will continue to drive its digital-first customer-centric strategy to improve customer experience and expand its range of service offering whilst constantly differentiating itself by maintaining a high standard in service delivery and putting our customers at the heart of everything that we do."

Financial Highlights

 

· Strong Earnings

- Profit before tax of N164.2bn (30 September 2017: N150.0bn) an increase of 9.5%.

- Profit after tax improved by 13.3% to N142.2bn from N125.6bn of 30 September 2017

- Earnings per share of 503kobo relative to 444kobo per share for comparative period 30 September 2017

 

· Revenue

- Interest Income of N237.5bn (30 September 2017: N248.3bn) down 4.3% as a result of 6.7% dip in interest income on loans and advances and 363bp decline in Fixed Income Securities yield. Gross Loans contracted by 8.3% from N1.517trn in December 2017 to N1.391trn due to de-recognition of certain financial assets and scheduled repayments of FCY components of the Loan book owing to increased FX liquidity at the back of improved crude oil price.

 

- Non-Interest Income (NII) of N99.7bn (30 September 2017: N61.6bn) up 61.8% compensated for the 4.3% drop in Interest Income. The NII growth resulted largely from 19.5% increase in Fee and Commission Income and growth in Other Income comprising Advisory, Discounts, rebate Commissions, & revaluation gains.

 

- Net interest margin remained strong at 9.2% (30 September 2017: 10.5%).

 

· Balance Sheet

- Total assets of N3.433trn (31 December 2017: N3.351trn) up 2.4%

- Net loans and advances of N1.270trn (31 December 2017: N1.449trn) dip of 12.3%.

- Deposits from customers of N2.239trn (31 December 2017:N2.062trn) up 8.6%.

 

· Credit Quality

- Non-performing loans to total loans improved to 5.6% from 7.7% as at 31 December 2017.

- Coverage for Lifetime Credit Impaired Loans improved to 180.6% (31 December 2017: 119.6%)

- Cost of Risk at 0.1% (31 Dec 2017: 0.8%).

 

· Continued focus on efficiency

- Cost to income of 38.3% (30 September 2017: 37.6%) due to improved revenue growth and continuous implementation of cost optimization strategies.

 

 

· Subsidiaries

- Contribution to PBT from subsidiaries increased to 11.9% from 9.3% in 30 September 2017.

 

 

September 2018 Financial Analysis and Ratios

 

Key Financials (N' billion)

Q3-2018

Q3-2017

∆%

Interest Income

237.5

248.3

-4.3%

Net Interest Income

170.6

189.6

-10.0%

Operating Income

266.1

240.4

10.7%

Operating expenses

101.8

90.4

12.7%

Profit before tax

164.2

150.0

9.5%

Profit After Tax

142.2

125.6

13.3%

Earnings per share (in Naira)

5.0

4.4

13.4%

Q3-2018

FY-2017

∆%

Total Assets

3,433.2

3,351.1

2.4%

Net Loans

1,270.4

1,449.3

-12.3%

Customer Deposits

2,238.9

2,062.0

8.6%

 

 

Key Ratios

Q3-2018

Q3-2017

ROAE(post-tax)

32.7%

30.8%

ROAA(post-tax)

5.6%

5.3%

ROAE (pre-tax)

37.8%

36.8%

ROAA (pre-tax)

6.5%

6.3%

Net interest margin

9.2%

10.5%

Cost-to-income ratio

38.3%

37.6%

Q3-2018

FY-2017

Loans to deposits

54.4%

67.5%

Liquidity ratio

43.9%

47.6%

Capital adequacy ratio

22.0%

25.7%

NPL/Total Loans

5.6%

7.7%

Cost of risk

0.1%

0.8%

Coverage (with Reg. Risk Reserves)

180.6%

119.6%

 

 

 

17, October 2018

 

Enquiries:

 

GTBank

Golden Nwaiwu, Head, Investor Relations

ir@gtbank.com

 

+234-1-4484156

 

Oyinade Adegite, Head, Communications & External Affairs

 

+234-1-2715227

cea@gtbank.com

 

 

 

Notes to the Editors:

 

Guaranty Trust Bank is a diversified financial services company with N3.433trillion in assets, providing commercial banking services through 221 local branches, 71 e-branches & GTExpress locations, over 1,254 ATMs, our international subsidiary offices and the Internet (gtbank.com).

 

The Group operates as one of the leading Nigerian banks offering a wide range of commercial banking services and products throughout Nigeria, West and East African sub-regions as well as the United Kingdom. The Bank is rated B and B+ by S&P and Fitch respectively, a reflection of the Bank's stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.

 

The Bank has ten bank subsidiaries established outside of Nigeria -

1) Guaranty Trust Bank (Gambia) Limited ("GTB Gambia"),

2) Guaranty Trust Bank (Sierra Leone) Limited ("GTB Sierra Leone"),

3) Guaranty Trust Bank (Ghana) Limited ("GTB Ghana"),

4) Guaranty Trust Bank (Liberia) Limited ("GTB Liberia"),

5) Guaranty Trust Bank (United Kingdom) Limited ("GTB UK")

6) Guaranty Trust Bank (Cote D'Ivoire) ("GTB Cote D'Ivoire"),

7) Guaranty Trust Bank (Kenya) Limited ("GTB Kenya"),

8) Guaranty Trust Bank (Rwanda) Limited ("GTB Rwanda"),

9) Guaranty Trust Bank (Uganda) Limited ("GTB Uganda")

10) Guaranty Trust Bank (Tanzania) Limited ("GTB Tanzania").

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
QRTKMMMGKNGGRZM
Date   Source Headline
22nd Jun 202111:20 amRNSNOTICE OF SUSPENSION OF GLOBAL DEPOSITARY RECEIPTS
22nd Jun 20217:30 amRNSSuspension - Guaranty Trust Bank PLC
30th Apr 20214:42 pmRNSSecond Price Monitoring Extn
30th Apr 20214:37 pmRNSPrice Monitoring Extension
22nd Apr 20217:00 amRNS1st Quarter Results
18th Mar 20215:28 pmRNSAnnual Financial Report
9th Dec 20208:55 amRNSCapital Reorganisation
2nd Dec 20204:41 pmRNSSecond Price Monitoring Extn
2nd Dec 20204:36 pmRNSPrice Monitoring Extension
23rd Nov 20204:41 pmRNSSecond Price Monitoring Extn
23rd Nov 20204:36 pmRNSPrice Monitoring Extension
19th Nov 20205:18 pmRNS3rd Quarter Results
16th Nov 20204:41 pmRNSSecond Price Monitoring Extn
16th Nov 20204:35 pmRNSPrice Monitoring Extension
5th Nov 20207:00 amRNSDirectorate Change
5th Nov 20207:00 amRNSCapital Reorganisation
2nd Sep 20205:39 pmRNSHalf-year Report
20th Jul 20204:41 pmRNSSecond Price Monitoring Extn
20th Jul 20204:35 pmRNSPrice Monitoring Extension
9th Jul 20204:40 pmRNSSecond Price Monitoring Extn
9th Jul 20204:35 pmRNSPrice Monitoring Extension
8th Jul 20204:36 pmRNSPrice Monitoring Extension
2nd Jul 20204:40 pmRNSSecond Price Monitoring Extn
2nd Jul 20204:35 pmRNSPrice Monitoring Extension
30th Jun 20204:41 pmRNSSecond Price Monitoring Extn
30th Jun 20204:36 pmRNSPrice Monitoring Extension
23rd Jun 20204:41 pmRNSSecond Price Monitoring Extn
23rd Jun 20204:36 pmRNSPrice Monitoring Extension
22nd Jun 20204:42 pmRNSSecond Price Monitoring Extn
22nd Jun 20204:36 pmRNSPrice Monitoring Extension
19th Jun 20204:42 pmRNSSecond Price Monitoring Extn
19th Jun 20204:36 pmRNSPrice Monitoring Extension
18th Jun 20204:41 pmRNSSecond Price Monitoring Extn
18th Jun 20204:36 pmRNSPrice Monitoring Extension
12th Jun 20204:41 pmRNSSecond Price Monitoring Extn
12th Jun 20204:36 pmRNSPrice Monitoring Extension
29th Apr 20204:40 pmRNSSecond Price Monitoring Extn
29th Apr 20204:36 pmRNSPrice Monitoring Extension
22nd Apr 20206:29 pmRNSGTBank Releases Q1 2020 Unaudited Results
7th Apr 202012:07 pmRNSSecond Price Monitoring Extn
7th Apr 202012:02 pmRNSPrice Monitoring Extension
25th Mar 20204:42 pmRNSSecond Price Monitoring Extn
25th Mar 20204:36 pmRNSPrice Monitoring Extension
25th Mar 20203:00 pmRNSAttendance of GTBank 2020 AGM by Proxy
16th Mar 202012:08 pmRNSSecond Price Monitoring Extn
16th Mar 202012:03 pmRNSPrice Monitoring Extension
2nd Mar 20205:10 pmRNSGTBANK 2019 AUDITED FULL-YEAR RESULTS
30th Oct 20194:40 pmRNSSecond Price Monitoring Extn
30th Oct 20194:35 pmRNSPrice Monitoring Extension
16th Oct 20196:08 pmRNSGTBank Announces Unaudited 3rd Quarter Results

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.