Guaranty Trust Bank Plc has announced its profit before tax of N239.09bn for the 2020 financial year, up from N231.71bn in 2019.
This was contained the bank’s audited financial statement released on Thursday, March 18, saying that its profit after tax rose to N201.44bn last year from N198.85bn in 2019.
Techeconomy.ng deduced that financial institution’s gross earnings increased by 4.58 per cent year-on-year to N455.23bn from N435.31bn.
Also, its deposits from customers surged by 38.74 per cent to N3.51tn in 2020 from N2.53tn a year ago, while loans and advances to customers rose to N1.66tn from N1.50tn.
The statement read: “The directors recommend the payment of a final dividend of N2.70k per ordinary share of 50 kobo (bringing the total dividend for the financial year ended December 31, 2020 to N3.00k (2019: N2.80K per share). Withholding tax would be deducted at the point of payment.”
Commenting on the financial results, the Managing Director/Chief Executive Officer, Guaranty Trust Bank Plc, Segun Agbaje, said: “2020 was arguably the most challenging year that the world has faced in decades.
“In such unprecedented times, we sought to live out the full extent of our values; safeguarding lives and livelihoods for our people, our customers and across the communities where we operate.
“We were on solid footing going into 2020; the strength, scale and liquidity of our balance sheet, coupled with the quality of our past decisions and the efficacy of our digital-first customer-centric strategy gave us the resilience and flexibility to navigate the economic shocks and market volatility that dominated the year.
“Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. Our world is increasingly digital, and we see it opening new and exciting opportunities for empowering people and uplifting our communities.
“With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.”