Gtbank records n125 58bn profit third quarter
According to recent reports, Guaranty Trust Bank (GTBank) has announced a profit of N125.58 billion for the third quarter of 2022. This represents a significant increase from the N114.78 billion profit recorded in the same period last year.
Here are some key highlights from the bank's financial results:
- Profit before Tax (PBT): N125.58 billion, up 9.1% from N114.78 billion in Q3 2021.
- Gross Earnings: N343.41 billion, up 10.3% from N310.91 billion in Q3 2021.
- Net Interest Income: N143.41 billion, up 12.1% from N127.91 billion in Q3 2021.
- Non-Interest Income: N54.41 billion, up 5.1% from N51.81 billion in Q3 2021.
- Total Assets: N4.35 trillion, up 10.3% from N3.94 trillion in Q3 2021.
- Customer Deposits: N2.45 trillion, up 11.1% from N2.20 trillion in Q3 2021.
- Loans and Advances: N1.43 trillion, up 12.5% from N1.27 trillion in Q3 2021.
These results demonstrate the bank's resilience and ability to navigate the challenging economic environment. GTBank's strong performance is attributed to its diversified revenue streams, efficient cost management, and strategic investments in digital banking and other growth areas.
It's worth noting that GTBank has consistently been one of the most profitable banks in Nigeria, with a strong track record of delivering value to its shareholders. The bank's commitment to innovation, customer service, and sustainability has earned it numerous awards and recognition in the industry.