GTB grows profit to N196.9bn, proposes N2.50 final dividend

Guaranty Trust Bank PLC (GTB) has declared it recorded a 6.6% expansion in its after-tax profit for Full Year 2019.

This it was able to achieve in spite of the marginal increase in its revenue in the period under review compared to the figure it posted at FY2018.

The comprehensive account of the lender’s performance is contained in GTB’s December 2019 Audited Group Financial Statements, released by the Nigerian Stock Exchange (NSE) today.

Revenue rose from N434.699 billion at FY2018 to N435.307 billion at FY2019, signalling a 0.14% increase.

GTB’s Net Interest Income appreciated by 4%, leaping from N222.434 billion at FY2018 to N231.363 billion in the corresponding period of 2019.

Net Fee and Commission Income climbed to N59.444 billion in the period under review from N50.470 billion at FY2018, translating to a 17.8% growth.

The Profit Before Income Tax (PBIT) of GTB advanced to N231.708 billion at FY 019 from N215.587 billion at FY2018, representing a 7.5% increase.

Profit for the Year leapt by 6.6%, moving from N184.711 billion at FY2018 to N196.849 billion at FY2019.

GTB’s Earnings Per Share (EPS) similarly responded to the positive drift, rising by 6.4% from N6.54 at FY2018 to N6.96 at FY2019.

Its Total Assets enlarged by 14.3% from N3.287 trillion at FY2018 to N3.759 trillion at FY2019.

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Total Equity rose from N576.277 billion at FY2018 to N687.337 billion in the review period, translating to a growth of 19.3%.

The board of GTB is proposing a final dividend of N2.50 per share subject to shareholders’ approval.

GTB opened trade on the floor of the NSE today at N26.40 per share.

It is noteworthy that the new dividend declaration brings to N2.80 the total dividend payout by the bank for FY2019 to N2.80 considering that it had earlier paid an interim dividend of N0.30 per share last year.

With outstanding shares of 29,431,179,224, its market capitalisation stands at over N700.462 billion as of today.

Its dividend yield is 12.31% while its Price to Earnings (PE) ratio is 3.30.

Earnings Per Share is the profit that each unit of a company’s ordinary shares  yields  during a particular period. It is simply calculated by dividing the Profit After Tax by the company’s total outstanding shares.  Increase in a company’s EPS often reflects an improvement in its bottom-line while a fall, on the other hand, indicates a declining profit.

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