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Nairaland Forum / Nairaland / General / Business / Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN (10502 Views)
11 Banks Make N261.99bn Net Profit In 3 Months / BUA Posts Unaudited H1 2020 Financial Results, Revenue Rises To ₦101.3 Billion / Unaudited Financial Results: Union Bank Enters Closed Period Ahead Of Q3 2019 (2) (3) (4)
Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Ravon: 4:08pm On Oct 16, 2019 |
Key Highlights - Gross Earnings decreased by 3.3% to N326.03bn from N337.27bn in Q3 2018 - Profit before Tax increased by 3.9% to N170.65bn from N164.25bn in Q3 2018 - Profit after Tax increased by 3.4% to N146.99bn from N142.22bn in Q3 2018 - Total Equity increased by 10.6% to N636.75bn from N575.57bn in Q3 2018 Guaranty Trust Bank Plc has reported a 3.2% YoY increase in Earning Per Share to N5.19 for 9M’19 in its latest filing with the Nigerian Stock Exchange (NSE). The growth in earnings can be attributed to stronger net fee and commission income (+22.9% YoY) as well as modest improvements in net interest income (1.3% YoY) and operating efficiency (the cost to income: -150 bps). Gross loans to customers grew by 7.8% from H1’19 level to N1.5 trillion in 9M’19. This implies a year-to-date loan growth of 6.8% compared to the 1.0% contraction observed in H1’19. It appears, however, that the size and structure of this loan growth were not enough to enable the bank meet the new LDR requirement of the Central Bank of Nigeria (CBN), given that GUARANTY was one of the banks impacted by CBN’s LDR-related penalty. By our estimate, GUARANTY had an LDR of 63.8% (bank only) as at September 2019. This supports our view that the apex bank may have applied the more stringent loan to funding ratio in its evaluation. Despite the growth in loans, NPL ratio declined from 7.3% in FY’18 to 5.6% in 9M’19. This eases our initial concern regarding the impact of the CBN’s credit creation drive on overall asset quality. There is a sustained improvement in cost-to-income ratio to 36.5% in 9M’19 (H1’19: 37.2%; FY’18: 38.3%). Annualised ROE and ROA, at 32.3% and 5.8% respectively, are currently ahead of FY’18 levels and management’s guidance for FY’19E. There is a weakness in both net interest income (-2.7% QoQ) and non-interest revenue (-21.0% QoQ) in Q3’19 relative to other quarters. The decline in non-interest income was largely driven by lower gross fees and commission income (-22.4% QoQ) and weaker net trading income (N155 million compared to N5.2 billion in Q2’19). Interest expense was also higher during the quarter, likely reflecting the 100bps increase in more expensive deposits. SOURCE: https://brandspurng.com/2019/10/16/gtbank-releases-q3-2019-unaudited-results-reports-profit-after-tax-of-%e2%82%a6146-99-billion/ 4 Likes 1 Share
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Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by zakim(m): 4:11pm On Oct 16, 2019 |
Banks are making profits while the customers are.... 16 Likes 1 Share |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by passyhansome(m): 5:06pm On Oct 16, 2019 |
You Mean INNOSON BANK PLC, When are they handing over fully to him 11 Likes |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by jerrybakermillz(m): 5:06pm On Oct 16, 2019 |
Una Don start |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by LastSurvivor11: 5:07pm On Oct 16, 2019 |
D |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Inception(m): 5:07pm On Oct 16, 2019 |
![]() Innoson right now 16 Likes 1 Share
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Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by 4gunners(m): 5:08pm On Oct 16, 2019 |
zakim:That's the dilemma we face in Nigeria. |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Nobody: 5:08pm On Oct 16, 2019 |
Innoson see your bank ![]() 3 Likes 1 Share |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by ursullalinda(f): 5:08pm On Oct 16, 2019 |
After all the invisible charges why won't they make profit? 6 Likes |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by OyiboOyibo(m): 5:08pm On Oct 16, 2019 |
Banks in Nigeria are the real Yahoo Yahoo 9 Likes 2 Shares |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by CharlesJok3r: 5:09pm On Oct 16, 2019 |
These banks are wicked. They keep laying off staffs despite declaring massive amount of profit every year. 5 Likes |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by AleAirHub(m): 5:09pm On Oct 16, 2019 |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by PureGoldh(m): 5:09pm On Oct 16, 2019 |
Ok |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Homextras: 5:09pm On Oct 16, 2019 |
Very good result... Very efficient bank compared to its peers. 1 Like |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Greystone: 5:09pm On Oct 16, 2019 |
3 Likes |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by BafanaBafana: 5:10pm On Oct 16, 2019 |
I can proudly say my money is a part of their profit. I used their atm twice and they charged me 65 naira each time meaning my 130 naira contributed to their huge profit 8 Likes 1 Share |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by henryobinna(m): 5:11pm On Oct 16, 2019 |
zakim:seriously. not bad if they're making profit. it's good as it'll encourage more business men and investors into the finance industry but when this profit is at expense of the customers, then something is very wrong. Obviously it is 2 Likes |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by ecolime(m): 5:11pm On Oct 16, 2019 |
passyhansome:Dry Their numbers are quite impressive. I am in awe of their efficiency. 2 Likes 1 Share |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Josh44s(m): 5:12pm On Oct 16, 2019 |
They should return back my 5k dey debited my wife when she used their atm card going 3 months now. Ole bank |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by wonuks(m): 5:12pm On Oct 16, 2019 |
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Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Sukueponmalu: 5:13pm On Oct 16, 2019 |
zakim:This doesn’t make any sense. 1 Like 1 Share |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Nobody: 5:14pm On Oct 16, 2019 |
Innoson Gt bank Ltd. |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by nabegibeg: 5:15pm On Oct 16, 2019 |
Ravon: The level of profits these banks declares does not reflect in the financials of the people the question is who and where are they making these money from when they dont lend to the people |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by sonnie10: 5:15pm On Oct 16, 2019 |
Innoson should worry then |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Kelvin30286063(m): 5:15pm On Oct 16, 2019 |
Stupid bank, the only Nigeria bank that doesn't give out loans. 1 Like |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Nobody: 5:15pm On Oct 16, 2019 |
Josh44s: ![]() ![]() ![]() Hence their Ridiculously Gigantic Profit. |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by MrStan11(m): 5:16pm On Oct 16, 2019 |
Make una pay innoson na. |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Wickedfacts: 5:16pm On Oct 16, 2019 |
Lmaooooo |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by Wickedfacts: 5:16pm On Oct 16, 2019 |
MrStan11: Let him come and collect the money na. |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by olusola200: 5:20pm On Oct 16, 2019 |
That's one of the best bank in Nigeria Their crowd is much, go to ikotun branch and see The meaning of crowd 3 Likes 1 Share |
Re: Gtbank Releases Q3 2019 Unaudited Results, Reports Profit After Tax Of ₦146.99BN by permit(m): 5:21pm On Oct 16, 2019 |
![]() 3 Likes 1 Share |
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