Nigerias tier-1 bank, Guaranty Trust Bank Plc, made N27.3 million from fees, commission and other charges in the last 6 months, according to the financial statement seen by Business Insider Sub-Saharan Africa.
The financial report released last week also showed that the bank recorded N95.5 billion as profit after tax for the period ended June 30, 2018.
Segun Agbaje, the Managing Director/CEO of the bank, while commenting on the financial report said; “In spite of declining yields and the challenges in the operating environment, we have delivered a decent half year result. The quality of this result is built on the strength of our businesses as well as the success of our digital-first customer-centric strategy in delivering financial services that are simpler, cheaper and more valuable to our customers’ everyday lives.”
Here’s how much the bank made from various charges within the period
- Account Maintenance Charges - N5.1 million
- E-business Income - N4.27 million
- Commission on foreign exchange deals - N2.4 million
- Account services, maintenance and ancillary banking charges - N3.2 million
- Transfers related charges - N1.2 million
Here are some of the details of the financial indices:
- Profit before tax stood at N109.6 billion, representing a growth of 8.4% over N101.1 billion recorded in the corresponding period of June 2017.
- Loan book dipped by 10.8% from N1.449 trillion recorded as at December 2017 to N1.293 trillion in June 2018.
- Gross earnings for the period grew by 5.9% to N226.6 billion from N214.1 billion reported in June 2017.
- Customers’ deposit grew by 10.0% to N2.269 trillion from N2.062 trillion in December 2017.
- Post- Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 34.1% and 5.5% respectively.
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