By Chinyere Joel-Nwokeoma
Lagos – Guaranty Trust Bank Plc on Wednesday announced an interim dividend of 30k per share for the half year ended June 30, 2020.
The bank stated this in its audited financial results released to the Nigerian Stock Exchange and London Stock Exchange.
It said that profit before tax during the period stood at N109.7 billion against N115.8 billion posted in the comparative period of 2019.
Its loan book during the review period grew by 8.1 per cent to N1.62 trillion from N1.50 trillion recorded as at December 2019.
Also, customer deposits increased by 18.5 per cent to ₦3.001trillion, from N2.53 trillion in December 2019.
The bank closed the half year with total assets of N4.51 trillion and shareholders’ funds of N720.9 billion.
Its non performing loan ratio and cost of risk closed at 6.8 per cent and 0.4 per cent in June 2020, from 6.5 per cent and 0.3 per cent in December 2019 respectively.
Commenting on the financial results, the bank’s Chief Executive Officer, Mr Segun Agbaje, said, “These are undoubtedly tough and trying times for people, businesses and economies the world over.”
Agbaje said the bank’s half year financial performance reflected the quality of its past decisions which had broadened its earnings.
“Underpinning this financial performance is our commitment to being there for our customers and the communities we serve.
“Over the past six months, we have lent the full weight of our franchise to safeguarding lives and livelihoods of our staff and customers; by leading from the front in the fight to curtail the COVID-19 outbreak and offering grace periods on loans to our small business customers.
“Going forward, our focus is not just to survive this pandemic, but to thrive beyond it.
“That is why we are going ahead with our plans to reimagine how we create value for all our stakeholders,” Agbaje said.
He said that “making financial services work for customers goes beyond banking.”