News Column

GTB's Q2 Profits Fall

August 25, 2014

Guaranty Trust Bank (GTB) Plc, Nigeria's largest lender by market value in a statement posted on the Nigerian Stock Exchange (NSE) website reveals half year profit fell by 10 per cent. The bank continues to grapple with Central Bank of Nigeria (CBN) regulatory induced costs that have been slowing its growth potentials.

For the first six months through June 2014, GTBank's net income reduced by 10 per cent to N44.0 billion from N49.01 billion for the same period (Q2) of 2013. Top line level performance was quite impressive as it recorded a single digit, 7 per cent, increase to N132.98 billion in the review period compared to N124.20 billion as at Q2 the prior year.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: AllAfrica

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters