23rd Nov 2007 13:08
Guaranty Trust Bank PLC23 November 2007 Friday, 23 November 2007 PRESS RELEASE GTBank declares N3.42bn half year dividend• grows profit by 55% Lagos Nigeria; Guaranty Trust Bank plc has released its half year auditedfinancial result for the period ended August 31, 2007 to the Nigerian StockExchange. The result which was recently submitted to the Nigerian Stock Exchangeshows an average growth of 50% across key profitability indices. The audited results show Gross Earnings of N33 billion and a Profit Before Tax(PBT) of N11.02 billion for the half year period. These figures represent 50%growth in Earnings and 55% growth in Profit in comparison to the N22 billion inEarnings and N7.1 billion in Profit reported for the corresponding period lastyear. The results also show a growth in Total Assets plus Contingents of 42%from N593.4 billion to N840.4 billion; and an appreciation in Shareholders'Funds to N150.5billion for the half year period ended 31 August 2007. The Bank, which undertook a $750 Million Global Depositary Receipts (GDR)offering in July this year; becoming the first Nigerian company and African bankto be listed on the main market of the London Stock Exchange, also announced aninterim dividend of N3.42 billion. This amount is 71% more than the N2 billionpaid out as interim dividend in the corresponding period last year. According to Tayo Aderinokun, Managing Director of the bank, "our half yearresult is a testimonial to the confidence the banking public has in GuarantyTrust Bank plc". Mr. Aderinokun further reiterated that the Bank would continueto provide exceptional service to its customers and pay commendable returns toour shareholders on their investments in the years to come. Communication & External Affairs Tel: 234-1-2725227 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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