Guarantee Trust Holding ranked 5th among Nigeria’s most profitable firms in 2022.

NewsReport Nigeria reports that with a PBT of N214.2 billion, Guaranty Trust Holdings came in fifth on the list of the nation’s most profitable businesses. This is a slight decline from the N221.5 billion recorded the year before.

This online information learned that Nigeria’s GDP grew by 3.1% in real terms in 2022, which was a modest development compared to the 3.4% growth the year before. A 21-year high of 18.77% was reached for headline inflation in 2022 as a result of the Russia-Ukraine war’s spillover effects.

NewsReport Nigeria understands that GTCO company’s PBT was impacted by rising operating costs as well as an expected N35.6 billion credit loss due to its exposure to securities issued by the Ghanaian government. Meanwhile, GTB posted revenue growth of 20.4% to N539.4 billion.

It was gathered that GTCO profit after tax also declined slightly by 3.2% to N169.2 billion from N174.8 billion recorded in the previous year.

GTBank CEO Segun Agbaje made over N200 Million in 4 days

Guaranty Trust Bank Ltd (GTBank), the banking subsidiary of Guaranty Trust Holding Company Plc (GTCO Plc or the Group), emerged winner in four major categories at the 12th annual Brand Africa 100: Africa’s Best Brands 2022 rankings of the Top 100 Most Admired Brands in Africa.

GT Holdings, which was awarded the Independent Best Commercial Bank in Digital Technology and Support for SMEs in 2022, declared a total dividend of N88.29 billion to its shareholders in the review year.

GTCO Plc is a diversified financial services company with over N5.1 trillion in assets, providing a wide range of banking as well as non-banking financial services in Nigeria, West Africa, East Africa, and the United Kingdom. The Group’s consistent year-on-year growth in customer base and delivery of superior value to all stakeholders is underpinned by its strong service culture, world-class corporate governance standards, efficient management, and bias for innovation.

GTCO is a leading financial services group with banking operations in Nigeria, West Africa, East Africa, and the United Kingdom, alongside new businesses in payment, fund management, and pension fund administration. Its leadership in the banking industry and efforts to empower people and communities have earned it many prestigious awards over the years. Recently, the bank was recognized as Africa’s Best Bank and the Best Bank in Nigeria at the 2021 Euromoney Awards for Excellence. It also retained its position as Africa’s Most Admired Financial Services Brand in the 2022 ranking of Brand Africa 100: Africa’s Best Brands. Corporate Communication