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GT Bank Garners N225.14bn As Revenue For H1, 2020

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Guaranty Trust Bank generated N225.4 billion as revenue for the first half of 2020, odunews.com reports.

GT Bank Garners N225.14bn As Revenue For H1, 2020
Garners N225.14bn As Revenue For H1, 2020

This shows an increase to the 221.87 billion recorded in the same corresponding period of 2019.

However, Nigeria’s leading lender’s Profit Before Tax for H1,2020 stood at N109.7 billion as against N115.8 billion recorded in the same corresponding period of 2019, showing a decline of about 5.2%.

Its Profit After Tax stood at N94.3 billion in H1, 2020 as against N99.1billion recorded in the same corresponding period of 2019.

These were disclosed in the statement issued by the tier-1 bank to the Nigerian Stock Exchange (NSE) on Wednesday.

It should also be noted that the Board of Directors of Nigeria’s most valuable bank by market value proposed an interim dividend payment of 30 kobos per ordinary share on the issued capital of 29,431,179,224 Ordinary Shares of 50 Kobo each payable to Shareholders on the register of shareholding at the closure date.

Just recently the N755 billion market capitalized bank listed on the Nigerian Stock Exchange and also on the London Stock Exchange, disclosed in a note to its GDR holders that the institution which serves as custodian for this shares corresponding to these certificates (Citibank Nigeria) is awaiting authorization from the Central Bank to transfer dividends for the 2019 financial year in dollar terms.

Shortly after the release of Guaranty Trust Bank earning result for H1, 2020, the share price rose slightly higher by 0.20% to close at N25.65.

Adelowo Adegboyega
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