GTCO makes ambitious forecast, targets N243bn in PBT

Adebayo Obajemu

Guaranty Trust Bank, a leading deposit bank Wednesday reported a profit after tax of N50.07 billion in its financial statement for the period ended, 31 March, 2020.

According to the unaudited financial report of the financial giant, a gross earnings of N112.87 billion, up by 2.30% when compared to the gross earnings of N110.33 billion in the first quarter of 2019 was posted.

Profit before tax rose by 2.14% to N58.2 billion from the N56.98 billion reported in the first quarter of 2019.

Profit after tax grew by 1.55% to settle at N50.07 billion when compared to the profit after tax of N49.30 billion reported in the first quarter of 2019.

The earnings per share of the financial giant stands at N1.70, up by 1.55% when compared earnings per share of N1.68 in Q1, 2019.

With reference to the share price of N18.6, the P.E ratio of Guaranty Trust Bank stands at 10.93x with earnings yield of 9.15%


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