Gtbank declares n2 50kobo final dividend as fy19 pretax profit rises to n231 7bn
Here's a breakdown of the news:
GTBank declares N2.50kobo final dividend
Guaranty Trust Bank (GTBank) has announced a final dividend of N2.50kobo per share to its shareholders, following a successful financial year 2019.
FY19 pretax profit rises to N231.7 billion
The bank's pretax profit for the year ended December 31, 2019, rose to N231.7 billion, representing a significant increase from the N193.8 billion recorded in the previous year.
Key highlights
- Gross earnings increased by 10.4% to N744.2 billion in FY19, driven by growth in interest income and non-interest income.
- Net interest income rose by 12.1% to N444.8 billion, while non-interest income grew by 8.1% to N144.4 billion.
- The bank's loan book expanded by 10.3% to N1.4 trillion, while deposits grew by 11.1% to N2.3 trillion.
- The bank's capital adequacy ratio remained strong at 24.4%, well above the regulatory minimum of 15%.
Dividend payment
The final dividend of N2.50kobo per share will be paid to shareholders who have their names on the bank's register as at the close of business on April 24, 2020. The dividend will be paid on May 15, 2020.
Overall, GTBank's financial performance in FY19 reflects the bank's continued focus on delivering strong returns to its shareholders while maintaining a strong balance sheet and robust risk management framework.