Connect with us


/">

BIG STORY

GTBank Releases Q3 2020 Unaudited Results, Reports Profit Before Tax Of ₦167.4 Billion

Avatar

Published

on

Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2020, to the Nigerian and London Stock Exchanges.

The 3rd Quarter result shows improved performance across key financial metrics, reaffirming the Bank’s capability to navigate the current economic challenges occasioned by the impact of COVID 19 on World economies.

The performance reflects its position as one of the leading and best managed financial institutions in Africa.

The Group reported Profit before tax of ₦167.4billion, representing a decrease of 1.9% over ₦170.7billion recorded in the corresponding period of September 2019 and an improvement on the 5.2% dip posted in H1-2020 relative to H1-2019.

Loan and Deposit book however grew by 4.5% and 25.1% from ₦1.502trillion and ₦2.640trillion recorded as of December 2019 to ₦1.569trillion and ₦3.303trillion in September 2020 respectively.

Guaranty Trust Bank’s Balance sheet remained well structured, diversified, and resilient with Total assets and Shareholders’ Funds closing at ₦4.574trillion and ₦755.5billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 23.9%, while Asset quality was sustained as NPL ratio and Cost of Risk (COR) closed at 6.5% and 0.6% in September 2020 from 6.5% and 0.3% in December 2019 respectively.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “Our 3rd Quarter result is a reflection of how we have appropriately positioned our balance sheet to cope with current economic realities and the challenging business environment. It is also a testament to the enduring loyalty of our customers, the hard work and dedication of our staff, and the unwavering support we continue to enjoy from all our stakeholders in our drive to deliver best-in-class financial services and superior and sustainable returns.”

He further stated that; “As an organization, we will continue to build on our commitment to enriching lives by leveraging our digital-first customer-centric strategy to improve customer experience and maintain a high standard in service delivery, and going beyond banking to create and drive innovative financial solutions that add value to our customers in all aspects of their lives.”

Over all, Guaranty Trust Bank plc continues to be the best in the Nigerian banking industry in terms of all financial ratios i.e. Post-Tax Return on Equity (ROAE) of 26.3%, Post-Tax Return on Assets (ROAA) of 4.6%, and Cost to Income ratio of 40.2%.

Renowned for its forward-thinking approach to financial services and customer engagement, GTBank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa.

The Bank was also awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.

BIG STORY

JUST IN: Drama As DSS, Police ‘Operation Burst’ Attempt To Arrest Sunday Igboho [VIDEO]

Avatar

Published

on

There was pandemonium along the Lagos-Ibadan Expressway on Friday when a joint team of policemen and the Department of State Services attempted to arrest Yoruba activist, Sunday Adeyemo, better known as Sunday Igboho.

According to a viral video, Igboho, who is topless, is seen with his men daring the security operatives to “do their worst” before they drove off.

According to a statement signed by a former Minister of Aviation, Chief Femi Fani-Kayode, Igboho was on his way to meet with 93-year-old Afenifere Chieftain, Ayo Adebanjo, when the incident occurred.

The statement read in part, “I just spoke to my brother Sunday Igboho. He told me there was a violent attempt to arrest him this afternoon by a joint team of soldiers, DSS operatives, and policemen numbering about 40 on the Ibadan/Lagos Expressway whilst he was on his way to see Baba Ayo Adebanjo in Lagos.

“I condemn this attempt to ambush and abduct him. It is not only reckless but also very dangerous. If the security agencies want to see him all they need to do is to invite him to their office. I am not aware of any crime that he has committed and I urge restraint on all sides.

“Let me also send a warning to the Federal Government that Sunday Igboho is a hero to millions of Yoruba and either killing him or detaining him unlawfully would be the biggest mistake they could make. Building bridges, dialogue, and the pursuit of peace is better than intimidation, threats, violence, and war. A word is enough for the wise.”

Continue Reading

BIG STORY

#EndSARS: Lawyer Who Filed Complaint Against Sam Adeyemi, Adeyanju, Falz, 47 Others Alleged To Be Fake

Avatar

Published

on

A lawyer, Kenechukwu Okeke, who filed a criminal complaint before an Abuja Magistrates’ Court over the actions of 50 artists, celebrities and pastor during the October 2020 #EndSARS struggle has been alleged to be fake, going by his conduct in court.

Our correspondent learnt that the Director-General of the Nigerian Law School and the Nigerian Bar Association had been contacted to authenticate Okeke’s legal status.

Activist, Deji Adeyanju, on behalf of the 50 persons in Okeke’s suit, had filed a case at the High Court and when the case was called for hearing today, it was stalled as the court held that Okeke should be ascertained with evidence if he was a lawyer.

At the hearing of the matter on Thursday, the case was called up and there were introductions by the applicant lead counsel, Samuel Ihenseksien and Okeke, who appeared as the first defendant, and as a counsel to himself.

The NBA Bwari Chairman, Bwari branch, Chukwuemeka Clement, also appeared in this case as amicus curiae (a friend of the court).

It was learnt that the NBA chairman and applicant’s counsel then applied for the court to inquire about the status of Okeke as a lawyer, after which all hell allegedly broke loose.

“He was visibly shaken as he was caught unawares. His right leg was moving uncontrollably as the judge ordered for further findings and for the NBA to formally join the matter and submit their enquiry to court,” a source said.

The case was adjourned to March 8, 2021, at which point Kenechukwu took off and wouldn’t grant an interview as he had promised.

The lawyer representing Deji Adeyanju and the 49 others, Samuel Ihenseksein, explained how Okeke was believed to be fake and why a verification letter was written to the law school and the NBA to confirm his status as a lawyer.

The defence counsel said, “The matter was adjourned to today for continuation of hearing and I was present in court and the NBA Chairman also put in an appearance because something of note came up. In a nutshell, we have had reasons before now to actually suspect that Okeke in different sessions and at different sessions held himself to be a lawyer.

“He has actually challenged so many celebrities and of note, he challenged Peter Okoye and so, we have had reasons to look at this critically. We know that there is a particular behaviour and his recent character which made us to verify if he was truly a lawyer.

“The court actually took it in good faith and ordered an inquiry. He was actually shaking and moving about and we now have a strong suspicion that he was not a lawyer. To confirm our fears, we have actually written to the Chief Registrar of the court. The one I have is the letter to the DG, Law School, to verify his status.”

Credit: Saharaporters

Continue Reading

BIG STORY

Only 54 Students ‘Not’ Taken Away By Gunmen; Security Operatives, Vigilantes In Pursuit of Abductors —Zamfara Govt

Avatar

Published

on

The Zamfara State Government has confirmed the abduction of female students of Government Girls Secondary School, Jangebe in the Talata-Mafara Local Government Area of the state.

The confirmation was made by the Commissioner of Security and Home Affairs, Alhaji Abubakar Dauran in a brief interview with the News Agency of Nigeria in Gusau on Friday.

The abductors in their hundreds invaded the town and took away the students at about 2 am.

“I can confirm to you now that we have sadly received the report on the abduction of the students of GGSS Jangebe and right now, I am on my way to the school.

“At this moment, l cannot say how many students were taken away by the gunmen until l get there, but we have already mobilized security men and members of the vigilantè who are now in pursuit of the abductors,” the commissioner stated.

A staff of the school who spoke to NAN on condition of anonymity said, “The gunmen in their hundreds invaded the town around 2 am on Friday, shot sporadically in the air to scare the residents before coming into the school.

“After taking away most of the students, we rounded up those that escaped or hid from the bandits and conducted a census where we counted 54 students and we are still searching to see if we can get more.”

Also, a resident who gave his name as Haliru Jangebe said the local vigilantes had tried to repel the invaders but were overpowered.

“The bandits were too many and they all seemed to be carrying heavy arms as we heard gunshots from all parts of the town and when the shots stopped, we heard that the students had been taken away.”

(NAN)

Continue Reading





JoIn Us On Facebook



[covid-data]







Most Popular