ok

Acidosis:


Best in stealing your money? There's nothing best about a bank

GT no dey steal like that... for me tho. I can't say for other types of account.

Kapose:
A review of the half year performance shows positive growth across all key financial metrics and improved strategic positioning of the brand. Gross earnings for the period grew by 2% to ₦214.1billion from ₦209.9billion reported in the June 2016; driven primarily by growth in investment securities income as well as income from risk assets. Profit before tax stood at ₦101.1billion, representing a growth of 18% over ₦85.69billion recorded in the corresponding period of June 2016.

http://naira24.com/guaranty-trust-bank-plc-released-audited-financial-results-half-year-ended-june-30-2017-nigerian-london-stock-exchanges/

Worst bank !still deducting #65 for transfer from my money when other banks have reduced theirs.

SMS notification and FX charges on Naira MasterCard will account for bulk of the profit.

just2endowed:
If the income or profit comes from investing in risk free securities such as government securities etc, then the economy is doom. And these huge profits comes from the criminal ideas from the cbn governor.

Let's me give u guys example. As at last year, the cbn ban individual investors from investing in treasury bills if they do not have minimum 50 million naira to invest in primary market from the initial 100,000. These gives banks to take control of TB in primary market, and in turn sell to individuals investors in the secondary market after they have profit from it,and these business is traded everyday.

For others that keep there money In the banks, these banks will use ur money to buy these security in these risk free securities and there by making up to 18% on TB or government bonds after paying peanut of 5% as Interest on deposit

But there are mutual funds that accept as low as #5, 000 and these funds are aggregated and re-invested in treasury bills and other high-end investments.

douchesnozzle:
All these paper and accounting profits are just posted to enrich the major shareholders which are the executives. The owners with majority of the shares would only make money when they post high profit so that a higher percentage can be shared among the shareholders. A major question that should be asked is are the banks following the prudential guidelines as provided by Banking and other financial institutions act BOFIA. Does this profit transmit to the growth of the economy and welfare of the staff in this organization? A lot of these banks posting high accounting profit have a lot of bad loans which are not fully provisioned. The prudential guidelines demands that a 100% provisioning is done for a bad loan but most of these banks still provision 50% with the hope that the loans can still be recovered. This practice isnt sustainable in the long run, but the major shareholders don't care, they are there to make the money and jump ship when things go south. That's why we still have men sitting in the board of major organizations who have ran other organizations aground.

Whilst I agree with you, I believe that CBN Bank examiners visits these Banks and review their books. I am also wondering how come the Bank made a 100 billion in a recession. It does make economic sense. How did it generate this profit? Which sectors did it lend to? Businesses are dying and Banks are posting profit. The economic is in recession and Banks are posting profits. It doesn't follow at all. That is why I agree with you.

hahaha, how bro?

wamiikechukwu:
80% of that profit comes from cheating customers.

AryaSand:
Why won't they? Ori olori, Ese Elese.

just2endowed:
If the income or profit comes from investing in risk free securities such as government securities etc, then the economy is doom. And these huge profits comes from the criminal ideas from the cbn governor.

Let's me give u guys example. As at last year, the cbn ban individual investors from investing in treasury bills if they do not have minimum 50 million naira to invest in primary market from the initial 100,000. These gives banks to take control of TB in primary market, and in turn sell to individuals investors in the secondary market after they have profit from it,and these business is traded everyday.

For others that keep there money In the banks, these banks will use ur money to buy these security in these risk free securities and there by making up to 18% on TB or government bonds after paying peanut of 5% as Interest on deposit

Do you mind CBN, rather than encourage a spending policy; they increased interest rate on treasury bills encouraging Banks to divert funds to purchase them. This same CBN has created about 5 exchange rates in this country. Who would see Treasury Bills at 15% and still go to fixed term deposit in a bank at 8% - it can't happen.

Impressive, and they should also be preparing to pay about N32bn as corporate taxes to government. No tax avoidance scheme please.

The policies of the current CBN discourage banks from lending.Why create risk assets ( lend to individuals and companies) when You can buy NTBs at 18%?

They bin nice though, but charges sha is pretty high. Card Maintenance, annual fee, sms charges

wamiikechukwu:
80% of that profit comes from cheating customers.

i tell you. My money follow for this profit.

We’ll be diving head first to creating our first video. In the first part, we looked at a detailed description of the user interface of our choice software, VideoScribe. The basic elements of a whiteboard video being a script/storyboard, voice over and post production process.

Writing your first Script and Story Board

Script



We’ll be making a short script and storyboard for a hypothetical company called Blue-Hyphen, a security solution company that prevents cyber attacks and other related security issues....



Read more... https://www.nairaland.com/3991553/learn-how-create-whiteboard-video

Boss13:


Do you mind CBN, rather than encourage a spending policy; they increased interest rate on treasury bills encouraging Banks to divert funds to purchase them. This same CBN has created about 5 exchange rates in this country. Who would see Treasury Bills at 15% and still go to fixed term deposit in a bank at 8% - it can't happen.

Encourage spending when inflation is already hitting the roof!!! Treasury Bills are just not a vehicle to lend to the government but more importantly to also mop up excess cash from the economy to control inflation.

I still feel their charges are conservative. For God sake, have you tried banking with other banks. I had to remove my funds from one bank like that because the charges are just ridiculous

Also, GTB/ other banks are not a telecommunication companies and the revenue on SMS doesn't even sit with them. What's is the cost of sending a text from your phone to a friend vs the cost being charged by these banks on SMS?

why won't they make 100billion naira?? only yesterday I went to thier customer care...I spent 3hrs on the queue...nonsense

Yet interest rate continue to soar as retrenchment persists.

Boss13:


Whilst I agree with you, I believe that CBN Bank examiners visits these Banks and review their books. I am also wondering how come the Bank made a 100 billion in a recession. It does make economic sense. How did it generate this profit? Which sectors did it lend to? Businesses are dying and Banks are posting profit. The economic is in recession and Banks are posting profits. It doesn't follow at all. That is why I agree with you.

This "recession" whatever is for ignorant minds. In any economic environment with any iota of capitalism, where there are losers , there are also gainers.
For example of there is a crash in the real estate market with prices going down due to poor demand which can be as a result of reduced disposable income translating to reduced propensity for individuals and corporations to save which translates to fewer bank deposits and reduced power of banks to loan money which leads to higher interest rates for real estate developers leading to higher development costs, coupled with reduced customer demand for the reasons highlited first...(if u are lost, then u r lost)....translates to a poor day for the sellers but a payday for the buyers...so u see that one party's loss is another's gain. Its only recession whenthe general populace is on the loosing side.
For your info this "recession" is propaganda that gullible Nigerians swallow. Nigeria has poor forex trade practices, poor cash flow management from its earnings and terrible monetary policy. Most of the goods and services we consume are imported, causing excessive demand for foreign currencies which cannot be sustained causing devaluation of our currency, putting service providers with imported input under pressure...which translates to the consumers. If you are asked to define the word "recession" how will u define it?
Read.

U see and them go dey criticize MMM, na the same thing them dey do.

Gtb that charges me 50naira on just one sms. Legal cheaters

douchesnozzle:
All these paper and accounting profits are just posted to enrich the major shareholders which are the executives. The owners with majority of the shares would only make money when they post high profit so that a higher percentage can be shared among the shareholders. A major question that should be asked is are the banks following the prudential guidelines as provided by Banking and other financial institutions act BOFIA. Does this profit transmit to the growth of the economy and welfare of the staff in this organization? A lot of these banks posting high accounting profit have a lot of bad loans which are not fully provisioned. The prudential guidelines demands that a 100% provisioning is done for a bad loan but most of these banks still provision 50% with the hope that the loans can still be recovered. This practice isnt sustainable in the long run, but the major shareholders don't care, they are there to make the money and jump ship when things go south. That's why we still have men sitting in the board of major organizations who have ran other organizations aground.

That is why the law provides for a statutory audit of the institution by an independent external auditor before they declare their annual result. In addition, CBN inspectorate division and FRCN also carry out oversight functions to ensure that banks financial statement are in compliance with all relevant laws and guidelines.

Juicy dividends awaits shareholders

fashrola:
Massive

REALLY massive, bro..i salute them. They know their onions.

Acidosis:


Best in stealing your money? There's nothing best about a bank

Myopic thoughts from a myopic mind.

Rich4god:
Huge profits... Poor salary to staffs.

Lie,bro. Lie.

just2endowed:
If the income or profit comes from investing in risk free securities such as government securities etc, then the economy is doom. And these huge profits comes from the criminal ideas from the cbn governor.

Let's me give u guys example. As at last year, the cbn ban individual investors from investing in treasury bills if they do not have minimum 50 million naira to invest in primary market from the initial 100,000. These gives banks to take control of TB in primary market, and in turn sell to individuals investors in the secondary market after they have profit from it,and these business is traded everyday.

For others that keep there money In the banks, these banks will use ur money to buy these security in these risk free securities and there by making up to 18% on TB or government bonds after paying peanut of 5% as Interest on deposit

You can as well keep the monies in your house and see how delicate it is to keep funds outside it's proper home.

We have to stop this backward attitude of criticising negatively. Constructive criticisms ll help us all.

Lastly, have you ever owned or banked with a foreign bank? If you have or know who does, you ll know the charges here are peanuts.