GTBank Reports 91.38 Billion Half Year Pre-Tax Profit


Guaranty Trust Bank on Wednesday reported 91.38 billion naira half-year pre-tax profit, more than 63.11 billion declared in 2015.

The leading fintech bank and one of the largest banks in Nigeria announced net interest income of 79.12 billion naira, slightly below 80.12 billion naira recorded a year ago.

In the first quarter of the year, when GTBank announced 30.68 billion profit. First Bank of Nigeria, one of the biggest banks reported a 82 percent drop in profit in the same period, while other banks like Skye Bank were rescued by AMCON.

Even though, most financial institutions in Nigeria are struggling to cope with the current economic downturn in the nation, GTBank has proved its leadership through consistency and implementation of modern financial technology that has helped reach a wider audience.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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