GTBank posts 9.03% drop in profit

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 GTBank posts 9.03% drop in profit
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Guaranty Trust Bank Plc in its unaudited first quarter (Q1) results for the period ended March 31, 2021 reported 9.03 per cent decline in profit to N45.55billion from N50.07billion earned  in first quarter ended March 31, 2020.

The lender on The  Nigerian Exchange Limited on Wednesday also disclosed 7.77 per cent decline in profit before tax to N53.68billion in Q1 2021 from N58.20 billion reported in Q1 2020 due to harsh operating environment.

It also reported 5.94 per cent decline in gross earnings to N106.16billion in Q1 2021 as against N112.87billion reported in Q1 2020 contributed to the decline in profits.

The lender reported 0.97 per cent increase in total assets to N4.99trillion as at March 31, 2021 from N4.94trillion it closed December 31, 2020.

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