GTCO posts ₦509.3b Q1 profit

Guaranty Trust Holding Company Plc posted a profit before tax of ₦509.3 billion in its First quarter , 2024 operations, against N74.1 billion achieved in the corresponding period in 2023.Guaranty Trust Holding Company Plc posted a profit before tax of ₦509.3 billion in its First quarter , 2024 operations, against N74.1 billion achieved in the corresponding period in 2023.

The Group’s balance sheet remained well structured, diversified, and resilient with total assets and shareholders’ funds closing at ₦13 trillion and ₦2 trillion, respectively. “We are positioned to compete effectively on all fronts and fulfill all our customers’ needs under a unified, thriving financial ecosystem. Despite the challenging operating environment, we delivered a solid performance, recording significant growth across all financial and non-financial metrics, and we remain on track to meet our full-year guidance.”

The Group pre-tax return on equity stood at 117 per cent while pre-tax return on assets closed at 18 per cent. The full impact capital adequacy ratio stood at 24.9 per cent. Cost-to-income ratio also closed at 16.3 per cent.Before flagging, please keep in mind that Disqus does not moderate communities. Your username will be shown to the moderator, so you should only flag this comment for one of the reasons listed above.

Customers of Eko Electricity Distribution Company under the Ajah and Ibeju business units will experience improved power supply as the Transmission Company of Nigeria commissions a 63MVA-132/33KVA mobile substation at the Ajah Transmission Station. The NNPC Exploration and Production Ltd/Seplat Energy Joint Venture and the Edo State government have signed an agreement that will see the state government allocate 6,000 hectares of land from its protected forest reserves for large-scale tree planting initiative by Seplat Energy Plc.Top energy industry leaders will on October 3, 2024, converge on Lagos for the Association of Energy Correspondents of Nigeria Annual International Energy Conference 2024.

Profit Before Tax (PBT)

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