3Q Earnings: GTBank records N182 billion Gross Earnings, N69 billion Net Profit


GTBank has recorded a 15% increase in Net Income over the 9 month period ending September 30 2013.

The largest bank in Nigeria by market capitalization also recorded Gross earnings of N182 billion over the nine month period. The earnings marked an increase of 9% from the N166 billion it made over the same period in 2012.

Profit before tax was up 7% to N82 billion, from the N77 billion it made in 2012.

Net Profit arrived at N69 billion, up 9% from the N63 billion recorded at the end of September 2012.

The bank’s loan book mushroomed 18% to N925 billion, from N783 billion at the same period last year, and up 30% since January 2013.

Deposits grew 10% over the period to N1.28 trillion, compared to N1.17 trillion.


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