Pretax profit of the bank also appreciated 9.1 percent to N215.58 billion from N197.68 billion declared the same period of 2017.

Gross earnings increased from N419.22 billion in 2017 end to N434.69 billion posted in the review period of 2018; representing an increase of 3.7 percent, GTBank said in a filing with the Nigerian Stock Exchange (NSE).

“In 2018, our focus on staying nimble, strengthening customer relationships and driving our digital-first strategy paid off. We successfully navigated the pressures of our challenging and radically changing business environment, recorded growth across key financial indices and reaffirmed our position as one of the best performing and well managed financial institutions in Africa,” Segun Agbaje, managing director/CEO of GTBank said in a statement.

Agbaje affirmed the result reflects, not just the fundamental strength of the GTBank brand, but also its commitment to Bank’s values of excellence, “creating value for all stakeholders and putting our customers first in everything that we do. Driven by these values, we are building the bank of the future by pairing the best of our business with the massive potential of digital technologies to create Africa’s first integrated and trusted platform; Habari,’ he added. 

GTBank has continued to report the best financial ratios in terms of profitability, efficiency and capital for a Financial Institution in Nigeria as revealed by its return on equity (ROAE) of 30.9 percent, cost to income ratio of 37.1 percent and capital adequacy of 23.4 percent.

These ratios are a testament to the efficient management of the Bank. In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation.

In its corporate action to the NSE, the lender offered a final dividend of N2.45 kobo per share to its shareholders for the audited period ended December 31, 2018 compared to N2.40 kobo paid in 2017 end.

The board of directors of the bank in August 2018 paid an interim dividend of N8.8 billion, which translates to 30 kobo per share in the review period; bringing total dividend to N2.75 per share for the 2018 year end.

The lender says the dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on Monday April 8, 2019, qualification date is also Monday April 8, 2019.

Annual General Meeting (AGM) and payment dates has been scheduled for Thursday April 18, 2019.

Shares of GTBank at the close of  Wednesday’s trading session on the floor of the domestic bourse appreciated 0.93 percent to N37.95 from N37.60 posted the previous session; gaining 0.35 kobo per share.

GTBank has been a recipient of numerous awards over the years. Some of the Bank’s awards in 2018 include Bank of the Year – Nigeria from the Banker Magazine, Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine, Most Innovative Bank from the African Investor, and Best Digital Banking Brand in Nigeria from the Global Brands Magazine.