Q1:2024 Earnings Update | GTCo | Performance Bolstered by Fair Value Gain
Performance Bolstered by Fair Value Gain Gross Earnings for Q1:2024 advanced 330.37% YoY to NGN680.38bn, primarily bolstered by impressive non-interest income. Elsewhere, Operating Expenses increased by 77.15% YoY to NGN99.45bn following a spike in personnel expenses, communications, technological related & admin expenses and AMCON charges. Profit Before Tax (PBT) and Profit After Tax (PAT) grew […]
H1:2023 GTCO Earnings Result | Remarkable Performance Riding on FX Revaluation Gains
In its recently released earnings results for the first half of 2023 (H1:2023), GTCO’s Gross Earnings jumped by 181.08% year-on-year (YoY) to NGN672.60bn mainly due to the spike in non-interest income (+385.03% YoY to NGN446.66bn), an offshoot of the massive FX revaluation gains recorded in the period. Elsewhere, Operating Expenses increased by 26.26% YoY to […]
Guaranty Trust Bank Plc Slower but persistent earnings growth in near term
At its full year 2018 analysts conference call and our follow up engagement, management guided to a 10% growth in loans over 2019, with focus on oil & gas sector, retail clients and manufacturing sector. Further, they guided that submissions have been made to unlock funds from the differentiated cash reserve ratio introduced by the […]
