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GTBank Announces N30.68 billion 1st Quarter, 2016 Profit

First Bank Nigeria

Guaranty Trust Bank plc has released its unaudited financial results for the first quarter ended
March 31, 2016 to the Nigerian and London Stock Exchanges.

A review of the 1Q 2016 result shows that the Bank continued to consolidate on its position as one
of the most profitable and well managed financial institutions in Nigeria, recording moderate
growth from its core banking activities. However, decline in trading and revaluation gains
occasioned by FX paucity robbed off on the impressive performance recorded with a 4.6% decline in
gross earnings to N75.39 billion (Q1, 2015: N79.02 billion), a 6.1% decline in Profit Before Tax to
N30.68 billion (Q1, 2015: N32.65 billion) and 3.6% decline in Profit After Tax (PAT) to N25.61 billion  (Q1 2015: N26.56 billion). The Bank also reported a post-tax ROAE of 24.19% and ROAA of 3.96% respectively. Shareholders’ funds closed at N433.41 billion (FY 2015: N413.56 billion).

The bank’s Balance Sheet remained strong with 5.2% growth in Total Assets to N2.66 trillion (FY
2015: N2.52 trillion). Loan book declined slightly by 0.7% to close at N1.36 trillion (FY 2015: N1.37
trillion). Customer’s Deposit grew by 10.3% to N1.78 trillion (FY 2015: N1.61 trillion). In line with the
bank’s Risk Management strategy, the bank approached its loan growth with disciplined strategy,
thus Non Performing Loans (NPL) of the bank for the period under review is still well within range at 3.51% and Net Interest Margin (NIM) for the period under review declined marginally by 9bps to
8.12% from 8.21% in Q1 2015.

Commenting on the financial results, Segun Agbaje, the Managing Director and Chief Executive
Officer of Guaranty Trust Bank plc stated that “Despite a slow start in economic activity in 2016 and
the extremely challenging business environment, the Bank recorded decent performance across key
financial indices during the period.”. He added that “We understand that there’s a lot more work to
be done, we are however prepared for the challenges and opportunities that lie ahead the 2016
financial year”.

As a financial institution with a bias for industry leadership, exceptional service delivery and
innovation, Guaranty Trust Bank plc has experienced tremendous growth since its inception in
Nigeria in 1990 with business outlays spanning Anglophone and Francophone countries of West
Africa, East African and the United Kingdom. The Bank presently employs over 10,000 peoples in
Cote d’Ivoire, Kenya, Gambia, Ghana, Liberia, Sierra Leone, Rwanda, Uganda and the United Kingdom.

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