Read the Guaranty Trust Bank Plc 2018 annual report

Guaranty Trust Bank Plc (“The Bank”) is listed on the Nigeria Stock Exchange under the share code GUARAN. The bank is a major financial services organisation that provides banking products and services for the retail, commercial and corporate banking sectors.

Guaranty Trust Bank Plc earned N226.6billion in gross which marked a 5.9% rise as compared to the previous business year as profit before tax went 8.4% up to N109.6billion. Customer deposits were yet another positive turn for the bank as a 10% growth escalated the figure to N2.269trillion by an estimated figure of N207billion. By close of the bank’s 2018 business year, total assets were pegged at N3.549trillion with NPL ration improving by 1.9%. The bank was able to make sending money, paying bill and applying for loans easy through the introduction of ‘Bank 737’. Guaranty Trust Bank Plc intends to remain steadfast on value such as hardwork in their pursuit of the lead status in banking.

Our businesses continued to perform strongly, with gross earnings for the period growing by 5.9% to N226.6billion from N214.1billion reported in June 2017. Our disciplined approach to growth and returns also came through with profit before tax at N109.6billion, representing a growth of 8.4% over N101.1billion recorded in the corresponding period of June 2017. Although the Bank’s Loan Book dipped by 10.8% from N1.449trillion recorded as at December 2017 to N1.293trillion in June 2018, due to a conscious effort to de-risk the balance sheet, the progress we are making in building customer relationships was reflected in the 10.0% growth of customer’ deposits to N2.269trillion from N2.062trillion in December 2017.


The Bank’s balance sheet remained strong with a 5.9% growth in Total assets as the Bank closed the period ended June 2018 with Total Assets of N3.549trillion and Shareholders’ Funds of N497.1Billion. In terms of Assets quality, NPL ratio improved to 5.8% in June 2018 from 7.7% in December 2017. Overall, Asset quality improved with Cost of Risk of 0.1% and adequate coverage of 167.5% for Lifetime Credit Impaired Loans, i.e., NPLs. Capital remains strong with CAR of 22.04% despite the implementation of IFRS 9. On the backdrop of this result, Post- Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 34.1% and 5.5% respectively. The Bank is proposing an interim dividend of 30k per unit of ordinary shares held by shareholders.

In the first half of the year, we continued to expand the offerings available on our “Bank 737” to enable our customers do more and in the shortest possible time, using their mobile phones. Now, by simply dialing *737#, our customers can pay their bills, apply for loans and send money to another mobile number. Creating more value for customers also means giving them greater access to personal and business credit facilities that are simple and readily available.

Looking ahead, we know that the current socio-economic realities present real challenges to growth. However, we remain committed to creating value for our shareholders and delivering superior customer experiences to our customers. We also believe that we will continue to lead the future of banking not just by how we use technology to create better products and services, but also by staying true to the values of hard work, integrity and putting the customer at the center of everything that we do.