Guaranty Trust Bank Plc Interim Results

 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

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%

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