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GTBank posts revenue of N224.2 billion in Q3 2019, makes N48.4 billion from fees and commissions

GTBank-Branch

According to the Q3 2019 financial statement released by Guaranty Trust Bank (GTBank) for the period ended September 30, 2019, the bank posted a revenue of N224.2 billion, 5.6% less than N237.5 billion recorded in the same period of 2018.

The bank, however, recorded and increased profit before tax (PBT) of N170.7 billion as against N164.1 billion in 2018. This represent a 3.9% increase in PBT.

The bank also made a profit after tax (PAT) of N146.99 billion as against N142.2 billion, representing a 3.4% increase.

GTBank made N48.4 billion from fees and commissions, compared to N40.3 billion in 2018. This suggests that fee and commission income increased by 19.9%.

READ ALSO: CBN says it detected counterfeit worth N98.82m in 2018, spends N64bn printing notes

The bank incurred N27.3 billion paying salaries and other allowances. This is 2.9% less than the amount spent in 2018.

GTBank gained 1.31%, closing at N27 from trading session on the floor of the Nigerian Stock Exchange (NSE).

Ripples Nigeria

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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