Business - Companies
Updated: October 26, 2022

Q3 2022: GTCO Records N66.4 Billion Profit

By Felicia Abisola Olamiji
October 26, 2022
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For the financial period ended September 30, 2022, Guaranty Trust Holding Plc has recorded a profit before tax of N66.4 billion.

According to the company’s unaudited financial report, GTCO grew its profit before tax by 12.93% when compared to the corresponding quarter of 2021 where it posted N58.8 billion.

The company’s profits were boosted by strong revenue growth during the quarter which saw the bank grow net interest income from N55.8 billion to N66.8 billion.

The company’s Income from commissions and fees also rose from N14.9 billion to N18.8 billion during the quarter.

During the period under review, GTB earnings per share for the quarter rose from N1.78 per share to N1.88 per share.