GTBank Releases 2017 Q3 Unaudited Results …. Reports Profit Before Tax of N150.03Billion

Guaranty Trust Bank plc has released its unaudited financial results for the 3 rd quarter ended
September 30, 2017, to the Nigerian and London Stock Exchanges.

A review of the 3 rd quarter performance shows positive growth across all key financial metrics and
improved strategic positioning of the brand. Despite non-recurrence of significant FX revaluation gain
during the period, the Bank reported an impressive Profit before tax of ?150.03billion, representing a
growth of 9% from ?137.99billion recorded in the corresponding period of September 2016. Increase
in PBT is primarily from 36% growth in interest income.

The Bank closed the third quarter ended September 2017 with Total Assets of ?3.213trillion and
Shareholders’ Funds of ?581.91billion. The Bank’s loan book contracted by 10% from ?1.590trillion
recorded in December 2016 to ?1.428trillion in September 2017 due to conscious effort to de-risk the
balance sheet and unwinding (pay-down) of trade obligations. In terms of asset quality, the Bank’s
non-performing loans remained low at 3.93% with adequate Coverage ratio of 212.7%. Cost of risk
moderated to 0.53% from 3.66% of comparative period of September 2016. On the backdrop of this
result, Post-Tax Return on Equity (ROE) and Post-Tax Return on Assets (ROA) stood at 30.81% and
5.29% respectively.

Commenting on the Bank’s financial results, Segun Agbaje, the Managing Director/CEO said that,
“Given the progress we made in the first half of the year, we came into the second half with the
objective of remaining focused on our core strategy of serving the full value chain of our customers’
needs whilst maintaining high standards of customer service.

He further stated that “As the Bank continues to drive innovation around mobile technology, we will
continue to enhance our digital channels in order to make it easy for our customers to use and
access our products and services, whilst positioning our Bank as a platform for enriching lives that
provides customers with benefits beyond banking.”

Guaranty Trust Bank has continued to report the best financial ratios among all Financial Institutions
in the Industry. Post-tax return on equity (ROE) of 30.81% and a cost to income ratio of 37.59% is a
clear evidence of the efficient management of the Banks’ Assets. Overall, the Bank has enshrined its
position as a clear leader in the Banking Industry. In due recognition of the Bank’s leading role in
Africa’s Banking Industry, owing to its world class corporate governance standards and excellent
service delivery and innovation, GTBank has been a recipient of numerous awards over the course of
the year. These include but not limited to Best Bank in Nigeria and Best Bank for SMEs in Africa
from Euromoney Magazine, African Bank of the Year from African Banker Magazine, Best Bank in
Nigeria and Best Bank for CSR in Africa from EMEA Finance Magazine, Best Corporate
Governance from Ethical Boardroom Magazine, Best Banking Group and Best Retail Bank from
World Finance Magazine.