GTBank renewed focus on broadening financial literacy Campaigns

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“Given the outlook of improving macroeconomic conditions, the bank remains resolute in taking advantage of these opportunities to growing earnings, improving profitability and delivering returns to our esteemed shareholders by mrs Osaretin Demuren, Chairman, Guaranty Trust Bank”   

The management of the GTB plc has a initiative involves a renewed focus on the broadening financial literacy campaigns, as well as creating micro loans, insurance and investment packages that enable more people benefits from the experts abound in the financial services sector. The report stated that bank has been a major driver of this initiative, which is wholly funded by the banks, as it reflects the bank’s long running commitment to building partnerships and collaborations that make financial services cheaper, simpler and more accessible to every Nigerian.  

According to the report excerpt from the twenty-ninth Annual General Meeting of the bank held today at the Oriental hotel in Lagos, disclosed that during the year, all deposit money banks in the country together with the Central Bank of Nigeria (CBN), rolled out the Shared Agent Network Expansion Facility (SANEF) with the aim of on-boarding 40million low income Nigerians into the financial system, increasing financial access points and deepening access to low cost mobile and digital financial products for all Nigerians.

“We need to combine the agility and responsiveness of a digital start-up with the reliability strength and capabilities of a global brand. In driving our digital strategy, we created Habari-a digital platform that connects our customers to the everyday things that matter to them and all from a single mobile application. Habari reflects our underlying commitment to connecting business and customers in a way that creates sustainable value for both.  Although it is still early days, Habari is fast gaining consumer adoption and loyalty, just as we continue to improve the platform to offer customers cheaper, faster and easier access to all the things they love or need.

“GTBank’s governance strategy is implemented through the establishment of systems and process which will assure the board that the subsidiaries reflect the same values, ethics, control and process as that of the parent while remaining independent in the conduct of their business and abiding within the confines of local extant regulations. We are committed to building an enduring institution that incorporates environmental and social standards into our business operations and activities.

“Our bank recorded significant success in the year despite the challenges in the operating environment and delivered a strong financial performance. Our capital position remains strong with a total capital adequacy ratio of 23.4percent and the bank is proposing a final dividend of N2.45k per unit of ordinary share held by shareholders, in addition to an interim dividend of 30kobo per unit of ordinary share previously given, bringing total dividend for 2018 financial year to N2.75kobo per unit of ordinary share.

“The financial performance reports of the company showed positive across all financial metrics and improved strategic positioning of the brand with the breakdown as follows: Gross earnings for the year grew by 3.7percent to N434.7bn from N419.2bn reported in December 2017. Profit Before Tax stood at N215.6bn, representing a growth of 9.1% over N197.7bn recorded in the corresponding year ended December, 2017. The bank’s customer deposits increased by 10.3%to N2.274trillion from N2.062trillion in December 2017, however, loan book dipped by 12.9% from N1.449trillion recorded as at December 2017 to N1.262trillion in December 2018.

“Other financial metrics are:  Total Assets of N3.287trillion, Shareholders’ fund stood at N575.6billion, Return On Equity and Return On Asset stood at 30.9% and 5.6% respectively.

Commenting on the results, the Chairman, Guaranty Trust Bank, mrs Osaretin Demuren said at this time of incredible opportunities for exponential growth. Our organization has an unmatched record in creating value for its shareholders, and in 2018, we continued to set the pace by serving customers in a way that makes their lives better, delivering premium returns for our shareholders, he added.

Chairman said we tend to do things in CSR a little differently, focusing on value, leveraging partnerships and working directly with communities to develop and execute initiatives and projects that empower people and uplift communities. This year alone, we supported more than one hundred CSR initiatives across the 36 states and federal capital territory Abuja, directly impacting the lives of thousands of people and supporting some of the most underserved communities in the country, she stated.

No wonder it known as GTBank or simply GTB, a Nigerian multinational financial institution, that offers Online/Internet Banking, Retail Banking, Corporate Banking, Investment Banking and Asset Management services. A leading African Bank that offers Online/Internet Banking, Retail Banking, Corporate Banking, Investment Banking and Asset Management…..from its head office in Victoria Island, Lagos, Nigeria

 


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