21 Aug 2015 11:22
21 August 2015
Guaranty Trust Bank Plc
Statement to the Nigerian Stock Exchange and the Shareholders on the extract of audited IFRS results for the six months ended 30 June 2015.
The Board of Directors of Guaranty Trust Bank Plc is pleased to announce the Group's audited results for the six months ended 30 June 2015.
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Income Statements | Group | Group | Parent | Parent | |||
for the period ended | Jun 2015 | Jun 2014 | Jun 2015 | Jun 2014 | |||
30 June 2015 | |||||||
N'million | N'million | N'million | N'million | ||||
Interest income | 113,884 | 99,716 | 103,007 | 90,343 | |||
Interest expense | (33,765) | (28,153) | (30,097) | (25,011) | |||
Net interest income | 80,119 | 71,563 | 72,910 | 65,332 | |||
Loan impairment charges | (5,951) | (5,339) | (6,002) | (5,252) | |||
Net interest income after loan impairment charges | 74,168 | 66,224 | 66,908 | 60,080 | |||
Fee and commission income | 24,609 | 24,762 | 20,693 | 21,410 | |||
Fee and commission expense | (1,091) | (968) | (959) | (826) | |||
Net fee and commission income | 23,518 | 23,794 | 19,734 | 20,584 | |||
Net gains/(losses) on | |||||||
financial instruments | |||||||
classified as held for trading | 7,596 | 5,935 | 6,211 | 4,695 | |||
Other income | 6,906 | 2,571 | 7,775 | 3,680 | |||
Net impairment charge/reversal | |||||||
on financial assets | 3 | 234 | 3 | 234 | |||
Personnel expenses | (15,109) | (13,450) | (11,042) | (10,251) | |||
Operating lease expenses | (534) | (452) | (338) | (335) | |||
Depreciation and amortization | (6,124) | (5,854) | (5,336) | (5,194) | |||
Other operating expenses | (27,312) | (25,605) | (24,713) | (22,410) | |||
Profit before income tax | 63,112 | 53,397 | 59,202 | 51,083 | |||
Income tax expense | (9,738) | (9,389) | (8,267) | (7,955) | |||
Profit for the period | 53,374 | 44,008 | 50,935 | 43,128 | |||
Profit attributable to: | |||||||
Equity holders of the parent | |||||||
entity | 52,967 | 43,667 | 50,935 | 43,128 | |||
Non-controlling interests | 407 | 341 | - | - | |||
53,374 | 44,008 | 50,935 | 43,128 | ||||
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Statements of other comprehensive | Group | Group | Parent | Parent | |||
income for the period ended | Jun 2015 | Jun 2014 | Jun 2015 | Jun 2014 | |||
30 June 2015 | N'million | N'million | N'million | N'million | |||
Profit for the period | 53,374 | 44,008 | 50,935 | 43,128 | |||
Other comprehensive income to be reclassified to profit or loss in subsequent periods: | |||||||
- Foreign currency translation | |||||||
differences for foreign | |||||||
operations | (1,317) | (3,690) | - | - | |||
- Income tax relating to foreign | |||||||
currency translation differences | |||||||
for foreign operations | 395 | 1,107 | - | - | |||
- Net change in fair value of | |||||||
available for sale financial | |||||||
assets | 3,224 | (470) | 3,117 | (422) | |||
- Income tax relating to | |||||||
net change in fair value of | |||||||
available for sale financial | |||||||
assets | (797) | 141 | (765) | 127 | |||
Other comprehensive income for | |||||||
the period, net of tax | 1,505 | (2,912) | 2,352 | (295) | |||
Total comprehensive income for | |||||||
the period | 54,879 | 41,096 | 53,287 | 42,833 | |||
Profit attributable to: | |||||||
Equity holders of the parent entity | 54,398 | 40,931 | 53,287 | 42,833 | |||
Non-controlling interests | 481 | 165 | - | - | |||
Total comprehensive income for | |||||||
the period | 54,879 | 41,096 | 53,287 | 42,833 | |||
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 | 1.88 | 1.55 | 1.73 | 1.47 | |||
- Diluted | 1.88 | 1.55 | 1.73 | 1.47 | |||
Gross Earnings | 152,995 | 132,984 | 137,686 | 120,128 | |||
Jun 2015 | Dec 2014 |
Jun 2015 | Dec 2014 | ||||
Total impaired Loans and Advances (N'million) | 49,796 | 41,309 | 42,700 | 32,616 | |||
Total impaired Loans and Advances to Loans and Advances (%) | 3.73% | 3.15% | 3.46% | 2.70% |
Enquiries:
GTBank | |
Golden Nwaiwu, Head, 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 | |