GTCO Plc loan book rises to N1.74trn

Guaranty Trust Holding Company (GTCO) Plc Group ) in its unaudited consolidated and separate financial statements for the period ended September 30, 2021, has gown its group’s loan book to N1.74 trillion.

This represents an increase of 4.5 per cent from N1.66 trillion reported in December 2020.

The company ‘s deposit liabilities increased to N3.90 trillion, representing a growth of 8.0 per cent compared with N3.61trillion recorded in the preceding period.

The company’s nine month result submitted to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE), showed profit before tax went to N151.9billion, indicating a drop of 9.2 per cent over N167.4 billion recorded in the corresponding period of September 2020.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, said; “Our performance validates the resilience of our balance sheet in spite of the challenges in the operating environment and, further justifies our decision to diversify our earnings by going beyond banking in creating long-term value for our discerning stakeholders. Looking forward, we will replicate our digital-first, customer-centric banking strategy in the wealth management and payment spaces to rapidly scale our service offerings in line with our long-term strategy.”