GTBank third quarter profit rose by 68%

Guaranty Trust Bank

GTBank in its financial report for first quarter 2017 recorded 84.1 billion interest income compared to NGN55.8 billion recorded same period in the financial year 2016.

Its interest expense for the period was NGN17. 9 billion against NGN15.0 billion recorded in the previous year.

The bank said its net interest income increased to NGN66.1 billion in 2017 compared to NGN40.7 recorded in the year 2016. With its impairment charges at NGN3.8 billion against NGN3.3 billion recorded in the year before.

After deducting its impairment charges for the period , its net interest income was NGN62.4 billion compared to NGN37.4 billion recorded in the previous year.

Gtbank in its report said its profit before tax was NGN50.3 billion in 2017 against NGN30.6 billion recorded in 2016. After deducting its tax for the period, its profit rose by  68% to NGN41.4 billion against NGN24.6 billion recorded in the year 2016.

Guaranty trust bank total assets remained at NGN3.1 trillion as as well as its liabilities which remained at NGN2.6 trillion.

For more details on the report, click here>>>

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