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 GTBank records N52.65bn profit- GTBank records N52.65bn profit
- April 19, 2012
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Guaranty Trust Bank Plc has announced a profit after tax of N52.65bn in its 2011 end of the year results, from N38.35bn recorded in 2010.
The bank in a presentation by its Managing Director, Mr. Segun Agbaje, on Tuesday said profit before tax also rose to N65.60bn in 2011, as against N48.46bn in 2010.
Agbaje said, “15.66 per cent increase in interest income from a larger loan book despite increased competition in the high-end banking space. Interest from loans and advances accounted for 70 per cent of interest income. 56.76 per cent growth in income from investments in government securities, enhanced by return to positive inter...
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