GTBank posts N201bn profit in 2020, proposes N2.70 dividends

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GTBank posts N201bn profit in 2020, proposes N2.70 dividends
Guaranty Trust Bank Plc (GTBank) Plc has reported 2.33 per cent increase in profit to N201.44billion in its audited full year result for period ended December 31, 2020 as against N196.86billion reported prior year.

The lender in its results to the Nigerian Stock Exchange (NSE) on Thursday states that its profit before tax grew by 2.76 per cent to N238.10billion in 2020 as against N231.71billion reported in 2019.

The management  proposed final dividend of N2.70, eight per cent above N2.50 per share declared in 2019.

The lender’s Gross Earnings gained 4.58 per cent from N435.31billion in 2019 to N455.25billion reported in 2020.

From the balance sheet position, the bank reported 31.54 per cent growth in total Assets to N4.94trillion in 2020 from N3.76trillion reported in 2019.

At the close of trading for day, GTBank share price gained 1.8 percent to close at N29.8 from N28.00 per share. Listed on the Main Board of The NSE with Market Capitalisation of N877.50 billion.

 

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