GTCO H1 Profit Jumps 222% to N905bn, Declares N1 Interim Dividend

  GTCO H1 Profit Jumps 222% to N905bn, Declares N1 Interim Dividend

Segun Agbaje, Group CEO of Guaranty Trust Holding Company (GTCO)

Guaranty Trust Holding Company (GTCO) has reported Half Year (H1) 2024 profit that rose 222% from a year ago to N905.56 billion.

During the period under review, Directors also proposed the payment of an interim dividend in the sum of N1.00K per ordinary share on the issued capital of 29,431,179,224 Ordinary Shares of 50 Kobo each payable to Shareholders on the register of shareholding at the closure date.

Net Interest Income after loan impairment charges rose by 369% to N444.11 billion in H1 2024, while net fee and commission income increased by 98% to N101 billion from the June 2023 period.

Other income from largely unrealized gains on financial instrument and forward transactions rose by 69% to N630 billion.

GTCO is in the process of raising N400 billion to inject more capital into its Nigerian unit and meet new central bank rules.