GTBank Revenue Drops To N214.77bn

Guaranty Trust Holding Company Plc has reported a profit before tax of N151.91bn for the third quarter of 2021.

Ezenwoko’s Blog reports that this is down 9.23 per cent from N167.35bn in the same period of last year.

The holding company for Guaranty Trust Bank Limited said its revenue dropped by 3.46 per cent to N214.77bn in Q3 2021 from N222.47bn in the same period a year earlier.

According to its unaudited financial statements for Q3 2021 filed with the Nigerian Exchange Limited on Tuesday, its earnings per share also dropped to N4.54 from N5.02.

GTCO, however, grew its assets from N4.94tn to N5.14tn.

Its cash and cash equivalents rose to N757.75bn from N592.66bn.

Meanwhile, following the purchase of major shares by billionaire businessman, Femi Otedola, the share price of First Bank Holdings (FBN) Plc recorded a decline.

Ezenwoko’s Blog understands that this was due to speculators selling off after buying into the bank following the heavy activity on the stock in the course of share purchase by Otedola.

It was gathered that the share price fell by 1.20 percent to N12.40 per share from N12.55 the previous day, while volume traded also took a downward turn, declining to 73.062 million from 350.54 million on Monday, thus representing a 79.2 percent decline in activity level. Deals also slumped by 28.6 percent to 545 from 763.