Capital Market

GTBank Q1 Profit Down 1.7%

Posted by InvestAdvocate on

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By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian lender, Guaranty Trust Bank Plc (GTBank) on Wednesday said its profit went down 1.7 percent (1.7%) in its first quarter (Q1) report for the period ended March 31, 2014.

Profit before tax (PBT) of the bank went down from N28.491 billion in Q1 2013 to N28.006 billion in the review period of 2014; indicating a 1.7% decline.

However, Profit after tax (PAT) grew slightly to 2.5% as it climbed from N22.556 billion in the first quarter of 2013 to N23.110 billion in 2014.

Gross earnings went up 5.8% as the lender recorded N67.577 billion in the Q1 of 2014 compared to N63.863 billion in the corresponding period of 2013.

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