Guaranty Trust Bank, GTB Plc, on Monday, March 14, announced its audited earnings report for the year ended December 31, 2015, showing growth across key top-line and profitability items.
Key extracts of the audited report and accounts for the year ended December 31, 2015 showed that gross earnings rose by 8.4 per cent to N301.9 billion in 2015 as against N278.5 billion in 2014.
Group profit before tax also leaped by 3.7 per cent from N116.4 billion in 2014 to N120.7billion in 2015. Profit after tax increased from N94.43 billion in 2014 to N99.44 billion.
The board of directors of the bank has reco mmended final dividend of N44.74 billion to shareholders, bringing total dividend for the 2015 business year to N52.1 billion. The bank had paid interim dividend of N7.36 billion.
A breakdown of the dividend recommendation indicated that shareholders would receive a final dividend per share of N1.52, in addition to interim dividend of 25 kobo, bringing total dividend per share to N1.77 for the 2015 business year.
Further analysis showed that the bank’s balance sheet remained strong with 7.2 per cent growth in total assets from N2.36 trillion in 2014 to N2.52 trillion in 2015. Loans to customers grew by 7.5 per cent to N1.37 trillion from N1.28 trillion in 2014. Despite the implementation of the Treasury Single Account (TSA) by the Federal Government, customer deposits remained relatively stable with a marginal year-on-year decline of 0.49 per cent from N1.62 trillion in 2014 to N1.61 trillion in 2015.
