By Peter Egwuatu
Guaranty Trust Holding Company Plc, GTCO, has recorded Profit Before Tax, PBT, of N103.2billion for the first half of 2022, H1’22, representing an increase of 11 per cent over N93.1billion recorded in the corresponding period of 2021, H1’21.
In its audited, consolidated and separate financial statements for the period ended June 30, 2022, sent to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), the GTCO loan book (net) increased by 1.8 per cent to N1.83 trillion in June 2022 from N1.80 trillion recorded as at December 2021 while deposit liabilities increased by 6.4 per cent to N4.39 trillion in June 2022 from N4.13trillion in December 2021.
Commenting on the results, the Group Chief Executive Officer of GTCO Plc, Mr. Segun Agbaje, said; “Our results show an increase in key revenue lines and a strong performance in other financial metrics which reinforce our growth prospects as a leading financial services company.
“Our priority at the start of the 2022 financial year was to bring the Group’s new businesses on-stream, starting strong with a focus on long-term viability.
“At present, we have successfully expanded our financial services ecosystem to include HabariPay Ltd, Guaranty Trust Fund Managers Ltd, and Guaranty Trust Pension Managers Ltd, and all of them are P&L positive.”
According to him, “These newly created businesses will operate alongside our flagship banking franchise to offer increased value to our growing customer base as well as other stakeholders. We will continue to build on our core strengths of service excellence, innovation, and flawless execution to deliver our corporate objectives for the year and further our vision of being Africa’s leading financial services institution.”