GUARANTY Trust Holding Company Plc (GTCO) has posted a profit before tax of N93.056 billion for the half year ended June 30, 2021, in contrast to N109.713 billion posted in 2020, accounting for a drop of 15.18 per cent. This is contained in the bank’s unaudited financial result released by the Nigerian Exchange Limited (NGX) in Lagos. Profit after tax was N79.414 billion for the half year, in contrast to N94.271 billion posted in 2020, accounting for a drop of 15.76 per cent. The group’s gross earnings stood at N207.914 billion against N225.138 billion recorded in the corresponding period of September 2020, accounting for a decline of 7.65 per cent.
The group posted a profit before tax of N53.683 billion for the first quarter ended March 31, 2021, in contrast to N58.204 billion posted in 2020, accounting for a drop of 7.76 per cent. Profit after tax was N45.546 billion for the first quarter in contrast to N50.066 billion posted in 2020, accounting for a marginal drop of 9 per cent. Interest income stood at N52.434 billion against N64.282 billion recorded in the corresponding period of September 2020.
The bank posted a profit after tax of N201.439 billion for the full year ended December 31, 2020, in contrast to N196.382 billion posted in 2019, accounting for a growth of 2.57 per cent. Profit before tax stood at N238.095 billion, representing a growth of 2.76 per cent over N231.707 billion recorded in the corresponding period of September 2019.
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