Business & Finance

GTBank Posted N120bn Profit In 2015, To Pay N45bn Dividend


Guaranty Trust Bank Plc yesterday declared 8.38 per cent increase in its earnings for 2015, despite  many challenges facing Nigeria banking industry in 2015.
According to the extract of audited IFRS results for the year ended 31 December 2015 sent to the Nigeria Stock Exchange (NSE), the bank’s earnings rose from N278.521 billion it made in 2014 to N301.851 billion, representing N23.330 billion increase.

Its profit before tax stood at N120.695 billion during the review period of 2015 from N116.386 billion of 2014, a 3.70 per cent increase.
Also its profit after tax rose by N5.003 billion translated to 5.30 per cent from N94.434 billion to N99.437 billion in 2015.
Its earnings per share increased from 3.32 kobo in 2014 to 3.51 kobo during the review period of 2015, indicates 5,72 per cent.
Total Assets of Guaranty Trust Bank surged by N169 billion or 7.17 per cent from N2.356 billion to end 2015 at N2.525 billion.
In the same vein, its liabilities also rose from N1.991 billion in 2014 to N2.111 billion at the end of 2015 which is N120 million or 6.03 per cent.
The bank proposed a final dividend of N1.52 kobo, following the N0.25 interim it has already paid out. The yield for the final dividend is 9.2 per cent.
The total dividend to be paid by the bank is amounted to N44.735 billion for the year ended 31, December 2015. The bank has shares outstanding of 29,431,179,224.

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