• Home
  • About Us
  • Contact Us
Thursday, June 1, 2023
Star Lite News
  • Home
  • News
    • All
    • Business
    Fuel Queues

    Subsidy Removal: Queues Resurface At Fuel Stations In Lagos

    Rauf Aregbesola

    FG Declares May 29th Work-free Day

    Dangote

    Dangote Refinery Will Generate $21billion, To Employ Over 100,000 Youths

    Judge Mohammed Yunusa

    Judge Suspended For Bribery Nullifies Alex Otti’s Candidacy

    TAJ Bank

    TAJ Bank Director, 4 Officials Charged With Alleged Money Laundering

    Dangote Petroleum Refinery

    Lagos Govt Alerts Commuters Amid Plans To Inaugurate Dangote Refinery

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

    Saga & Nini

    Nini and Saga: Former Big Brother Naija Housemates Engaged

    GTCO Food & Drink Festival

    GTCO Food & Drink Festival 2023… A Celebration Of Food!

    Adeniyi Johnson and Seyi Edun

    Actor Adeniyi And Wife Finally Become Parents As They Welcome Twins

    Nollywood Veterans Visits Agbaminoja

    Agbaminoja Plays Host To Nollywood Veterans

    Nancy Isime

    Filming with legends will forever put a big smile on my face – Nancy Isime

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
  • Home
  • News
    • All
    • Business
    Fuel Queues

    Subsidy Removal: Queues Resurface At Fuel Stations In Lagos

    Rauf Aregbesola

    FG Declares May 29th Work-free Day

    Dangote

    Dangote Refinery Will Generate $21billion, To Employ Over 100,000 Youths

    Judge Mohammed Yunusa

    Judge Suspended For Bribery Nullifies Alex Otti’s Candidacy

    TAJ Bank

    TAJ Bank Director, 4 Officials Charged With Alleged Money Laundering

    Dangote Petroleum Refinery

    Lagos Govt Alerts Commuters Amid Plans To Inaugurate Dangote Refinery

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Entertainment
    Al Pacino

    Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant

    Saga & Nini

    Nini and Saga: Former Big Brother Naija Housemates Engaged

    GTCO Food & Drink Festival

    GTCO Food & Drink Festival 2023… A Celebration Of Food!

    Adeniyi Johnson and Seyi Edun

    Actor Adeniyi And Wife Finally Become Parents As They Welcome Twins

    Nollywood Veterans Visits Agbaminoja

    Agbaminoja Plays Host To Nollywood Veterans

    Nancy Isime

    Filming with legends will forever put a big smile on my face – Nancy Isime

  • Lifestyle

    MKH staff celebrate Chairman’s Mother as she clocks 66…

    Trending Tags

    • Golden Globes
    • Game of Thrones
    • MotoGP 2017
    • eSports
    • Fashion Week
  • Business
  • Politics
  • World
No Result
View All Result
Star Lite News
No Result
View All Result
Home Banking News

GTCO Posts N214bn As Pretax Profit In 2022

starliteadmin by starliteadmin
April 16, 2023
in Banking News, Business
0
GTCO
0
SHARES
0
VIEWS
Share on FacebookShare on WhatsAppShare on Twitter

Guaranty Trust Holding Company Plc (GTCO) on Friday announced a profit before tax of N214.2 billion in its Audited Consolidated and Separate Financial Statements for the year ended December 31, 2022.

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.

Tags: Group Chief Executive Officer of Guaranty Trust Holding Company PlcGTCOGuaranty Trust Holding Company PlcLondon Stock ExchangeMr. Segun AgbajeNigerian Exchange GroupStarlitenews
Previous Post

Dangote Sugar Pays N18.22bn Dividends, To Produce 170,000 Tonnes Next Season

Next Post

AWARD: Dangote’s Bonds Win “The Most Innovative & Ground-breaking Deals From Africa Of The Year”

starliteadmin

starliteadmin

Related Posts

Nneka Onyeali-Ikpe

Fidelity Bank MD, Nneka Onyeali-Ikpe Gets National Award

by starliteadmin
May 30, 2023
0

Chief Executive Officer of Fidelity Bank PLC, Nneka Onyeali-Ikpe, has been listed amongst the recipients of the 2023 national awards....

Wema Bank

Children’s Day 2023: Davido Joins Wema Bank To Empower Teenagers With Skills Acquisition

by starliteadmin
May 29, 2023
0

Wema Bank Plc, the leading innovative financial institution in Nigeria, has celebrated the 2023 Children's Day with a remarkable initiative...

NASCON AGM In Lagos.

NASCON Records 84% Increase In Profit

by starliteadmin
May 29, 2023
0

NASCON Allied Industries Plc, a leading food seasoning and processing company in Nigeria, has achieved remarkable growth in key performance...

Wema Bank

Iconic Encounter: Music Superstar Davido Meets Wema Bank’s New MD/CEO

by starliteadmin
May 28, 2023
0

In what will be recorded as a historic occasion in the worlds of entertainment and finance, globally acclaimed Nigerian music...

Dangote Cement Ibese

Zero Carbon Emission: Dangote Cement Ibese Commissions Trucks For Biomass Waste Management

by starliteadmin
May 28, 2023
0

As part of efforts aimed at environmental sustainability and migration to the use of alternative fuel to power its operations,...

Access Bank

Access Bank Rewards More NYSC Members To Promote Entrepreneurship Amongst Youths

by starliteadmin
May 28, 2023
0

As part of its commitment to continually empower the youth through various entrepreneurial initiatives, Retail giant, Access Bank has rewarded...

Next Post
AWARD: Dangote’s Bonds Win “The Most Innovative & Ground-breaking Deals From Africa Of The Year”

AWARD: Dangote’s Bonds Win “The Most Innovative & Ground-breaking Deals From Africa Of The Year”

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Popular Posts

  • A Day With Legends of Nollywood

    Legends of Nollywood Financial Summit Is Here, Meet The Speakers: Apostle Anselm Madubuko, Mrs. Bukola Agbaminoja, Pst. Moji Bakare Asieru-sweet, Others

    0 shares
    Share 0 Tweet 0
  • RECRA 2023 Host Gov. Babajide Sanwo-Olu, Bldr. (Dr.) Abdulhakeem Odegade, Paul Obazele, Other Eminent Personalities

    0 shares
    Share 0 Tweet 0
  • Akmodel First Physical Allocation At Akmar Flourish Gardens Epe (Photos)

    0 shares
    Share 0 Tweet 0
  • M.D Of AKMODEL GROUPS, Bldr. (Dr.) Odegade, Paul Obazele, Favour Benson, Mrs Janet Mordi (M.D Zekod Farms LTD.) Mr. Ralph (Viju Industries), Others Attends RECRA 2023 (Photos)

    0 shares
    Share 0 Tweet 0
  • Agbaminoja, CSP Oriyomi, Dr. Kenny Muibi, Others Storm AKMODEL GROUPS 2nd Anniversary (Photos)

    0 shares
    Share 0 Tweet 0

Recent Posts

  • Viju Milk Drink Exemplifies The Spirit Of World Milk Day By Promoting The Consumption Of Milk
  • Al Pacino, 83, Set To Become Father Again After Revealing Girlfriend, 29, Is Pregnant
  • NNPC Announces New Fuel Price Across States
  • Fidelity Bank MD, Nneka Onyeali-Ikpe Gets National Award
  • Subsidy Removal: Queues Resurface At Fuel Stations In Lagos
Starlite news icon

Browse by Category

Archives

  • Home
  • About Us
  • Contact Us

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.

No Result
View All Result
  • Contact Us
  • About Us
  • Business
  • Politics
  • World
  • Entertainment
  • Lifestyle

© 2022 | Crafted with ❤ by Claridan - Adsvance Digitals.