The Group reported Profit Before Tax of N169.7billion,
representing an increase of 11.7 per cent over N151.9billion recorded in the
corresponding period ended September 2021.
The Group’s loan book (net) increased by 2.2 per cent from
N1.80 trillion recorded as at December 2021 to N1.84 trillion in September
2022, while deposit liabilities increased by 6.4 per cent from N4.13trillion in
December 2021 to N4.39 trillion in September 2022
The Group’s balance sheet remained well structured and
resilient with total assets and shareholders’ funds closing at N5.81trillion
and N872.8 billion, respectively.
Strong Capital Ratios and Asset Quality were sustained as
CAR, NPL ratio, and Cost of Risk (COR) closed at 20.7 per cent, 5.6 per cent,
and 0.2 per cent in September 2022 from 23.8 per cent, 6.0 per cent, and 0.5
per cent in December 2021, respectively.
Commenting on the results, the Group Chief Executive Officer
of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said, “The
Group’s 3rd quarter result reaffirms our strategy for long-term growth and
underscores our capacity to deliver sustainable strong performance despite the
volatilities in our operating environment.
“We have also kept in focus our vision of supporting small
and medium enterprises specifically through our free business platforms to help
them stay in business and expand their offerings. With our non-banking
businesses fully operational alongside our core banking subsidiary, we are well
positioned to maximize our earnings potential going into the 4th quarter of the
year.”
He further stated, “In creating a thriving financial
services ecosystem, our goal is to offer great experiences to all who interact
with our brand whilst continually enhancing access to innovative financial
solutions for individuals and businesses across Africa. We are appreciative of
all our customers and other stakeholders who are with us on this journey of
building a truly global African financial services institution.”
Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services Industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 25.8 per cent, Pre-Tax Return on Assets (ROAA) of 4.0 per cent, Full Impact Capital Adequacy Ratio (CAR) of 20.7 per cent and Cost to Income ratio of 45.1 per cent.
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