19th Apr 2013 10:58
Guaranty Trust Bank plc
Q1 unaudited results
The Board of Directors of Guaranty Trust Bank plc is pleased to present an extract of the un-audited Group Financial Statements, prepared in accordance with IFRS, for the three months ended March 31, 2013.
19 April 2013
Enquiries:
GTBank | |
Muyiwa Teriba, Head, Investor Relations |
+234-1-4484156 |
Lola Odedina, Head, Communications & External Affairs |
+234-1-2715227 |
Pascal Or
| |
College Hill | +44 20 7457 2020 |
Tony Friend | |
Antonia Coad |
Statement of Financial Position as at 31 March, 2013
(N'million)
| Group Mar 2013 | Group Dec 2012 | Parent Mar 2013 | Parent Dec 2012 |
ASSETS | ||||
Cash and cash equivalents | 241,562 | 276,856 | 177,883 | 210,300 |
Loans and advances to banks | 4,865 | 4,865 | 145 | 178 |
Loans and advances to customers | 821,395 | 779,050 | 778,553 | 742,437 |
Financial assets held for trading Investment Securities | 355,236 | 271,074 | 335,793 | 267,417 |
-Available for sale | 11,631 | 15,766 | 8,619 | 10,139 |
- Held to maturity | 125,869 | 129,491 | 128,214 | 118,898 |
Assets pledged as collateral | 29,793 | 31,203 | 29,793 | 31,203 |
Investment in subsidiaries | - | - | 22,925 | 22,925 |
Property and equipment | 62,090 | 60,887 | 56,576 | 55,497 |
Intangible assets | 1,641 | 1,772 | 1,590 | 1,540 |
Deferred tax assets | 937 | 992 | - | - |
Other assets | 186,491 | 162,922 | 183,767 | 159,783 |
TOTAL ASSETS | 1,841,510 | 1,734,878 | 1,723,858 | 1,620,317 |
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LIABILITIES |
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Deposits from banks | 14,582 | 23,860 | 2,821 | 7,170 |
Deposits from customers | 1,212,798 | 1,148,197 | 1,117,086 | 1,054,123 |
Other liabilities | 98,770 | 80,972 | 86,605 | 69,872 |
Current income tax liabilities | 19,356 | 15,631 | 19,313 | 15,340 |
Deferred tax liabilities | 3,108 | 3,288 | 3,225 | 3,225 |
Debt securities in issue | 91,689 | 86,926 | 13,672 | 13,238 |
Other borrowed funds | 93,253 | 92,562 | 171,266 | 169,194 |
TOTAL LIABILITIES | 1,533,556 | 1,451,436 | 1,413,988 | 1,332,162 |
CAPITAL AND RESERVES | ||||
Share capital | 14,716 | 14,716 | 14,716 | 14,716 |
Share premium | 123,471 | 123,471 | 123,471 | 123,471 |
Treasury shares | (2,047) | (2,047) | - | - |
Retained earnings | 63,698 | 41,381 | 62,759 | 47,558 |
Other components of equity | 106,818 | 104,652 | 108,924 | 102,410 |
Capital and reserves attributable to equity holders of the parent entity | 306,656 | 282,173 | 309,870 | 288,155 |
Non-controlling interests in equity | 1,298 | 1,269 | - | - |
TOTAL EQUITY AND LIABILITIES | 1,841,510 | 1,734,878 | 1,723,858 | 1,620,317 |
Income statement for the period ended 31 March, 2013
(N'million)
Group Mar 2013 | Group Mar 2012 | Group Dec 2012 | Parent Mar 2013 | Parent Mar 2012 | Parent Dec 2012 | ||
Interest income | 45,270 | 40,694 | 170,295 | 42,329 | 38,537 | 160,125 | |
Interest expense | (11,827) | (9,246) | (39,609) | (10,975) | (8,645) | (37,026) | |
Net interest income | 33,443 | 31,448 | 130,686 | 31,354 | 29,892 | 123,099 | |
Loan impairment charges | (1,268) | (406) | (739) | (917) | (189) | 668 | |
Net interest income after loan impairment charges | 32,175 | 31,042 | 129,947 | 30,437 | 29,703 | 123,767 | |
Fee and commission income | 13,067 | 10,901 | 44,321 | 11,890 | 9,799 | 39,214 | |
Fee and commission expense | (288) | (162) | (1,591) | (272) | (147) | (1,508) | |
Net fee and commission income | 12,779 | 10,739 | 42,730 | 11,618 | 9,652 | 37,706 | |
Net gains/(losses) on financial instruments classified as held for trading | 2,642 | 258 | 3,940 | 2,176 | (280) | 2,339 | |
Other income | 2,594 | 762 | 3,384 | 2,199 | 999 | 2,646 | |
Net impairment loss on financial assets | (214) | - | (97) | (214) | - | (97) | |
Personnel expenses | (5,459) | (5,120) | (25,966) | (4,640) | (4,394) | (20,774) | |
General and administrative expenses | (3,429) | (2,895) | (22,406) | (3,136) | (2,853) | (20,286) | |
Operating lease expenses | (153) | (222) | (791) | (149) | (139) | (622) | |
Depreciation and amortisation | (2,381) | (2,120) | (8,892) | (2,193) | (1,936) | (8,053) | |
Other operating expenses | (10,061) | (8,060) | (18,821) | (8,953) | (7,126) | (16,484) | |
Profit before income tax | 28,493 | 24,384 | 103,028 | 27,145 | 23,626 | 100,142 | |
Income tax expense | (5,935) | (5,072) | (16,341) | (5,429) | (4,725) | (14,878) | |
Profit for the period from continuing operations | 22,558 | 19,312 | 86,687 | 21,716 | 18,901 | 85,264 | |
Profit for the period from discontinued operations | - | 92 | 609 | - | - | - | |
Profit for the period | 22,558 | 19,404 | 87,296 | 21,716 | 18,901 | 85,264 | |
Profit attributable to: | |||||||
Equity holders of the parent entity {total} | 22,471 | 19,314 | 86,958 | 21,716 | 18,901 | 85,264 | |
-Profit for the period from continuing operations | 22,471 | 19,245 | 86,398 | 21,716 | 18,901 | 85,264 | |
- Profit for the period from discontinued operations | - | 69 | 560 | - | - | - | |
Non-controlling interests {total} | 87 | 90 | 338 | - | - | - | |
- Profit for the period from continuing operations | 87 | 67 | 289 | - | - | - | |
- Profit for the period from discontinued operations | - | 23 | 49 | - | - | - | |
| 22,558 | 19,404 | 87,296 | 21,716 | 18,901 | 85,264 |
Statement of Comprehensive Income for the period ended 31 March, 2013
(N'million)
Group Mar 2013 | Group Mar 2012 | Group Dec 2012 | Parent Mar 2013 | Parent Mar 2012 | Parent Dec 2012 | |
Profit for the period | 22,558 | 19,404 | 87,296 | 21,716 | 18,901 | 85,264 |
Other comprehensive income: |
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- Foreign currency translation differences for foreign operations | (410) | (842) | (2,707) | - | - | - |
Net change in fair value of available for sale financial assets | - | (3) | 1,463 | - | (3) | 1,463 |
Income tax relating to component of other comprehensive income | 123 | 169 | 373 | - | 1 | (379) |
Other comprehensive income for the period, net of tax | (287) | (676) | (871) | - | (2) | 1,084 |
Total comprehensive income for the period | 22,271 | 18,728 | 86,425 | 21,716 | 18,899 | 86,348 |
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Profit attributable to: |
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Equity holders of the parent entity (total) | 22,184 | 18,638 | 86,193 | 21,716 | 18,899 | 86,348 |
-Total comprehensive income for the period from continuing operations | 22,184 | 18,569 | 85,633 | 21,716 | 18,899 | 86,348 |
-Total comprehensive income for the period from discontinued operations | - | 69 | 560 | - | - | - |
Non-controlling interests (total) | 87 | 90 | 233 | - | - | - |
Total comprehensive income for the period from continuing operations | 87 | 67 | 183 | - | - | - |
Total comprehensive income for the period from discontinued operations | - | 23 | 49 | - | - | - |
Total comprehensive income for the period | 22,271 | 18,728 | 86,425 | 21,716 | 18,899 | 86,348 |
Earnings per share for the profit from continuing operations attributable to the equity holders of the parent entity during the period (expressed in naira per share): |
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-Basic | 0.80 | 0.69 | 3.06 | 0.74 | 0.65 | 2.90 |
-Diluted | 0.80 | 0.69 | 3.06 | 0.74 | 0.65 | 2.90 |
Earnings per share for the profit from discontinued operations attributable to the equity holders of the parent entity during the period (expressed in naira per share): | ||||||
-Basic | - | 0.003 | 0.02 | - | - | - |
-Diluted | - | 0.003 | 0.02 | - | - | - |
Related Shares:
GRTB.L