By FELIX OLOYEDE
Guaranty Trust Bank (GTBank) increased Profit before tax by 3.9% to ₦170.7 billion as at September 2019, compared to  ₦164.2billion recorded in the corresponding period of September 2018, its unaudited financial results for the period sent to the Nigerian and London Stock Exchanges has shown.
Its post-tax profit was up 3.4% to ₦146.99billion during the period under review. 
The bank’s Gross Earnings declined by 3.33% to ₦326.03bn from ₦337.27billion in corresponding period of 2018 as a result of a 5.62% and 52% dip in Interest Income and Net Gains on
Financial Instrument to ₦224.19billion and ₦9.64billion.
The Bank’s Loan Book grew by 9.2% from ₦1.262trillion recorded as at December 2018 to ₦1.378trillion in September 2019, while customers’ deposit rose by 5.1% to ₦2.390trillion from ₦2.274trillion in December 2018.
Its a total assets and Shareholders’ Funds closing stood at ₦3.519trillion and ₦636.8Billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 23.6%.
In terms of Assets quality, NPL ratio and Cost of Risk (COR) improved to 5.6% and 0.2% in September 2019 from 7.3% and 0.3% in December 2018 respectively.
Complementing the improvement noted in NPLs and COR, we maintained adequate Loan Loss coverage of 95.2% for Lifetime Credit Impaired Loans (NPLs). On the backdrop of this result, Post-Tax Return on Equity (ROAE) closed at 32.3% while Post-Tax Return on Assets (ROAA) stood at 5.8%.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “The Bank’s 3rd quarter result reflects the strength of our franchise and the quality of our business strategy to deliver sustainable long-term value for our shareholders. Going into the final quarter of the year, we will continue to differentiate ourselves by maintaining a high standard in service delivery and leveraging our resources, expertise and network to enrich the lives of our customers. That’s why, from November 10 – 11, 2019, we are organizing the GTBank Fashion Weekend, the biggest consumer-focused event in Africa’s fashion industry, to give indigenous small businesses the platform and access to new markets and customers that they need to grow.”
Over all, Guaranty Trust Bank plc continues to be best-in-class in the Nigerian banking industry in terms of all financial ratios i.e. Post-Tax Return on Equity (ROAE) of 32.3%, Post-Tax Return on Assets (ROAA) of 5.8%, and Cost to Income ratio of 36.9%. These ratios are testament to experienced Management, efficient Balance sheet structure coupled with operational efficiency of the Bank.

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