Rebuttal of False News Reports Against GTCO’s Business Activities, Results and Its ExecutiveMaManagement

  Rebuttal of False News Reports Against GTCO’s Business Activities, Results and Its ExecutiveMaManagement

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

Based on the incessant release of false news reports on GTCO’s business activities, Results and its Management Team, it has become necessary to set the records straight and dispel attempts by certain groups to create a false narrative about the GTCO Brand and its Management.

The false news articles which are being sponsored using the media, center around baseless allegations against the Group’s business activities and its Executive Management.

Being a responsible corporate citizen and a first class institution, GTCO Plc has taken swift and decisive legal actions against the various sources of these false reports, and will continue to use the full extent of the rule of law available to safeguard its reputation.

GTCO urges all its Customers, Shareholders and Stakeholders to kindly disregard all the allegations being peddled through various media platforms and handles.

All, of our Executive Management team continue to operate in their full capacities as appointed and are not under any financial or regulatory scrutiny as alleged.

Thank you for your continued support.

GTCO reports stellar earnings in H1, 2024

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.