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Guaranty Trust Holding Company Plc (GTCO) has recorded a profit before tax (PBT) of ₦ 214.2 billion in its 2022 operations, representing a 3.3 percent dip from ₦221.5 billion achieved in the corresponding period in 2021. The dip was on the back of ₦35.6 billion impairment on Ghanaian sovereign securities
Guaranty Trust Holding Company Plc (GTCO) has recorded a profit before tax (PBT) of ₦ 214.2 billion in its 2022 operations, representing a 3.3 percent dip from ₦221.5 billion achieved in the corresponding period in 2021. The dip was on the back of ₦35.6 billion impairment on Ghanaian sovereign securities.
The group’s loan book (net) increased by 4.6 percent from ₦1.8 trillion to ₦1.89 trillion while deposit liabilities grew by 11.6 percent, from ₦4.13 trillion to ₦4.61 trillion within the same period. Group’s total assets and shareholders’ funds closed at ₦6.45 trillion and ₦931.1 billion, respectively while the capital adequacy ratio (CAR) stood at 24.1 percent.
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The non-performing loan (NPL) ratio improved to 5.2 percent from six percent posted in 2021. However, the cost of risk (COR) inched up marginally to 0.6 percent in 2022 from 0.5 percent recorded in the previous year. the bank will continue to prioritise innovation, service excellence and execute seamlessly toward achieving its vision of leading financial services in Africa.
