Guaranty Trust HoldCo reports N175bn profit in 2021, down 13.2%

Guaranty Trust Holding Co (GTCO) Plc has declared a profit of N175 billion for the 2021 financial ended December 31.

This represents a 13.21% decrease year on year.

GTCO also reported earnings per share of N6.14, a 13.64% decline from the N7.11 reported a year earlier.

The group equally reported a steady decline in the performance of topline income since 2017, depreciating by 30% in 4 years.

A statement the bank announcing the results also said that interest income fell by 12.77% within the year under review, from N288.28 billion to N251.47 billion in the current period.