Half Yearly Report

Guaranty Trust Bank plc

Reports audited half-year group results for the period ended June 30, 2012 and declares a dividend of 25kobo per share

Lagos Nigeria - August 31, 2012 - Guaranty Trust Bank plc ("GTBank"), (Bloomberg: GUARANTY:NL/Reuters: GUARANT.LG) provider of commercial banking services, announces its Audited Consolidated Financial Results for the 6 months ended 30 June 2012 and declares a half year dividend of 25 kobo per share.

Commenting on the results, Segun Agbaje, Managing Director/CEO of Guaranty Trust Bank plc said:

"The Bank's achievements during the first six months of 2012 were due to a defined operating strategy, adherence to the principles it is known for, the dedication of all GTBank employees and the support of its customers and other stakeholders. Our plan is to ensure our Customers perform their banking needs safely and conveniently".

GT Bank will host a conference call for analysts at 3pm (Nigeria / UK time) on Monday 10 October, 2012. Call details as below:

Financial Highlights

·; Strong Earnings

- Profit before tax of N53.64bn(30 June 2011: N32.91bn)An increase of 62.96% in PBT compared to half-year 2011, driven by improved margins and increased efficiency.

- Profit after tax of N45.55bn(30 June 2011: N27.65bn) a 64.74% growth from Half Year 2011.

- Earnings per share of 159kobo per share (30 June 2011: 95kobo per share)

- Half Year dividend of 25 koboper share

- Subsidiaries - While all subsidiaries account for less than 4% of the total profitability of GTBank,

§ All GTBank subsidiaries are P&L positive and continue to show strong profitability and performance in their local markets.

§ All non-bank subsidiaries have been divested in line with CBN's repeal of universal banking and GTBank's decision to focus on commercial banking.

·; Revenue

- Interest Incomeof N83.18bn (30 June 2011: N61.47bn).A 35.32% increase from H1 2011 as a result of loan growth, return to positive real interest rate regime (vs. H1 2011) and improved yields on investment in fixed income securities.

- Non Interest Incomeof N30.35bn (30 June 2011: N28.80bn)A marginal 5.39% increase over H1 2011, a result of increased competition.

- Net interest Margin remains strong at 9.28%

·; Balance Sheet

- Total Assets and contingents of N2.10trn (31 December 2011: N2.14trn)

- Net Loans and Advances of N797.16bn (31 December 2011: N707.05bn), a 12.74%growth from December 2011.

- Deposits from Customers and Banks of N1.07trn, (31 December 2011: N1.06trn). A marginal 0.83% growth from December 2011 as a result of a desire to maintain NIMs in a competitive environment characterized by irrational overcompensation for deposits.

- Liquidity Ratio of 43.83% (31 December 2011: 52.65%)

GTBank remains adequately funded and poised to take advantage of opportunities that may emerge in our market while maintaining a prudent and conservative approach to lending.

- Loans to Deposits Ratio of 74.35% (31 December 2011: 66.49%)

·; Credit Quality

- Non Performing Loans to total loans of 3.19% (31 December 2011: 3.14%).

- Allowance for impairments of 90.81% (31 December 2011: 112.63%).

·; Continued focus on efficiency

- Cost-to-Income profile improved to 41.41% (31 December 2011: 50.84%). Lower Cost-to-Income ratio driven by concerted and dedicated effort by management to derive sustainable ways to lower costs and improve efficiency.

Notes to the Editors:

Guaranty Trust Bank is a financial services company with over N1.59trillion in assets, providing commercial banking services through 184 local branches, 777 ATMs, 26 e-branches, our international offices and the Internet (gtbank.com).

The Group operates as one of the leading Nigerian banks offering a wide range of financial services and products throughout Nigeria and in the West African sub-region. The Bank is rated B+ by Fitch and S&P, a reflection of the Bank's stability and reputation of being a well established franchise with strong asset quality and consistently excellent financial performance.

The Bank has six banking subsidiaries established outside of Nigeria - Guaranty Trust Bank (Gambia) Ltd ("GTB Gambia"), Guaranty Trust Bank (Sierra Leone) Ltd ("GTB Sierra Leone"), Guaranty Trust Bank (Ghana) Ltd ("GTB Ghana"), Guaranty Trust Bank (Liberia) Ltd ("GTB Liberia"), Guaranty Trust Bank (United Kingdom) Ltd ("GTB UK") and Guaranty Trust Bank (Cote D'Ivoire) Ltd ("GTB Cote D'Ivoire").

The Bank also has one non-bank subsidiary: GTB Finance B.V. ("GTB Finance"), a special purpose subsidiary incorporated in The Netherlands. In each of the past five years, profit from the parent company accounted for over 90.0% of the Group's total income.