GTBank’s quarterly profit falls to N45.55bn
Guaranty Trust Bank Plc has reported a profit of N45.55 billion for the period ended Mar. 31, 2021, compared to N50.07 billion in the same period of last year.
The lender’s profit before tax declined to N53.68 billion in the first quarter of this year from N58.20 billion in Q1 2020, according to its financial statements.
Its net interest income fell to N52.43 billion in Q1 2021 from N64.28 billion in the same period of last year while its net fee and commission income increased to N14.61 billion from N13.55 billion.
Deposit from customers rose to N3.60 trillion from N3.51 trillion while loans and advances to customers declined to N1.64 trillion from N1.66 trillion.