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Tag: GTCO

Banking

Zenith Bank, GTCO, UBA hit with N172.4b windfall tax

Nigeria’s new tax policy targeting foreign exchange revaluation gains has led to a combined windfall tax liability of N172.3 billion for three major banks—Zenith Bank, Guaranty Trust Holding Company, and United Bank for Africa. The Finance (Amendment) Act 2023 introduced a windfall tax on realized foreign exchange profits recorded by Money Deposit Banks between 2023 […]

GTBank website outage due to domain name issue, not hack
News

CBN, SEC okay GTCO’s N209bn equity capital raise

Guaranty Trust Holding Company Plc has raised N209.41 billion after securing approvals from the Central Bank of Nigeria and the Securities and Exchange Commission for the first tranche of its equity capital raise programme. In a statement released on Monday, GTCO announced that its equity capital raise attracted strong interest from domestic retail investors. This […]

Top 10 employers in Nigeria
featured News

Top 10 employers in Nigeria

The Nigerian job market is marked by a complex blend of opportunities and hurdles, continually shifting due to the efforts of key players across various sectors. Recent data from the National Bureau of Statistics highlights a challenging period for employment, with the unemployment rate rising to 5.0% in Q3 2023, up from 4.2% in Q2 […]

Banking News

Bank recapitalisation: GTCO to launch N400bn public offer

Guaranty Trust Holding Company, GTCO Plc, has concluded to raise N400 billion in new capital as part of the Central Bank of Nigeria’s recapitalization program. This was disclosed by the Group Chief Executive Officer, GTCO, Segun Agbaje at the fact behind its public offer presentation at the Nigerian Exchange Limited, NGX on Monday. Agbaje said […]

GTBank website outage due to domain name issue, not hack
News

GTCO records pre-tax profit of ₦509.3billion in Q1

Onwubuke Melvin   Guaranty Trust Holding Company has announced the highest pre-tax of ₦509.3billion recording the highest in the history of Nigerian banking, in its Unaudited Consolidated and Separate Financial Statements for the period ended March 31, 2024. This was disclosed in its quarterly financial report filed by the bank with the Nigerian Exchange Groupon […]

FBNH, GTCO join NGX banking index
Business

FBNH, GTCO join NGX banking index

The Nigerian Exchange Limited reviewed the indexes and added some banking stocks to the Banking Index, including FBN Holdings, Guaranty Trust Holding Company Plc, FCMB Group, and Stanbic IBTC Holdings Plc. The PUNCH reported that according to a corporate announcement made by the exchange on Tuesday, the equities of Jaiz Bank, Unity Bank, Wema Bank, […]

GTCO hits N433bn profit in Q3 2023
Banking

GTCO hits N433bn profit in Q3 2023

Guaranty Trust Holding Company Plc declared a profit before tax of N433.2bn, a 155.2 percent rise over the N169.7bn reported in the same period in 2022. According to The Punch, this was revealed in its unaudited consolidated and separate financial accounts, which were submitted with the London Stock Exchange and the Nigerian Exchange Group, for […]

GTCO hits N433bn profit in Q3 2023
Banking

GTCO Holdings records N105.8bn pretax profits in 2023 Q3

The parent company of GT Bank, GTCO Holdings Plc, reported a pre-tax profit of N105.8 billion in the third quarter of 2023, up 59.17% year over year from the N66.47 billion reported in the third quarter of 2022. According to The Times, the company’s profit after tax for the third quarter of 2023 was N86.93 billion, up […]

GTCO hits N433bn profit in Q3 2023
Banking

GTCO increases profit, asset value to N355.5tn

The earnings before tax for Guaranty Trust Holding Company Plc increased to N327.4 billion in the first half of the 2023 fiscal year. The Group made this disclosure in a statement to the Nigerian Exchange Group and London Stock Exchange on Sunday on its audited consolidated and separate financial statements for the period ended June […]

GTCO hits N433bn profit in Q3 2023
Business

GTCO records 217% rise Q2 2023

Pre-tax profits increased by 217.09% year over year at GTCO in the first half of 2023, hitting N327.398 billion. The huge increase in gross earnings is responsible for the pre-tax profit growth that was so noticeable. Increased net interest income and substantial gains on unrealized foreign exchange revaluation are the causes of this growth. Interest […]