The decrease in profit before tax, according to results made
available to the Nigerian Exchange Group and London Stock Exchange, represented
a 3.3 per cent dip from N221.5 billion posted in the corresponding year ended
December 2021.
It, however, attributed the decrease in PBT to N35.6 billion
impairment recognised on Ghanaian sovereign securities.
The Group’s loan book (net) increased by 4.6 per cent from
N1.80 trillion as at December 2021 to N1.89 trillion in December 2022, while
deposit liabilities grew by 11.6 per cent from N4.13 trillion to N4.61 trillion
during the same period.
The Group’s balance sheet remains well-structured and
resilient with total assets and shareholders’ funds closing at N6.45 trillion
and N931.1 billion, respectively.
Capital Adequacy Ratio remained strong, closing at 24.1 per
cent.
Similarly, asset quality was sustained as IFRS 9 Stage 3
Loans ratio; non-profit loans improved to 5.2 per cent in December 2022 from
six per cent in December 2021.
However, Cost of Risk inched up marginally to 0.6 per cent
in financial year 2022 from 0.5 per cent in December 2021.
Commenting on the results, the Group Chief Executive Officer
of Guaranty Trust Holding Company Plc, Mr Segun Agbaje, said, “This underscores
our strong business fundamentals and unwavering commitment to sound business
strategies.
“Despite the varying challenges and headwinds that weighed
on growth in 2022, we were determined to deliver a decent performance and scale
effectively to strengthen our competitive edge and drive long-term growth.”
He further stated that 2022 was quite significant for the
Group being the first year after its corporate restructuring into a financial
holding company in August 2021.
“Today, across our banking, payment, funds management, and
pension businesses, we have successfully built a robust ecosystem with immense
potential to deepen our addressable market and create more value for all our
stakeholders.
“We will continue to prioritise innovation, service
excellence, and execute seamlessly towards achieving our vision of leading
financial services in Africa,” the CEO said. NAN
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