Nigeria’s GTBank H1 profit falls 5.2%, declares N0.30 dividend
Nigeria’s Guaranty Trust Bank (GTB) Profit Before Tax (PBT) declined 5.2 percent to N109.71 billion at the end of its first six months operation this year.
The lender in a regulatory filing disclosed that its gross earnings, however, increased marginally by 1.5 percent to N225.13 billion in its six months to June 2020.
The bank posted N115.78 billion profit before tax and N221.87 billion revenues in the first six months of last year, according to its statement to the Nigerian Stock Exchange (NSE).
The bank is proposing an interim dividend of N0.30 per share to its shareholders from the profit after tax of N94.27 billion posted at the end of June 2020.
The profit after tax was also a decline from the N99.13 billion posted in the corresponding period of last year.
GTBank also posted a 3.2 percent increase in its interest income to N153.71 billion from the previous year’s figure of N148.99 billion.