GTBank Revenue Drops To ₦214.77bn

Guaranty Trust Holding Company Plc has reported a profit before tax of ₦151.91bn for the third quarter of 2021.

Naija News reports that this is down 9.23 per cent from ₦167.35bn in the same period of last year.

The holding company for Guaranty Trust Bank Limited said its revenue dropped by 3.46 per cent to ₦214.77bn in Q3 2021 from ₦222.47bn in the same period a year earlier.

According to its unaudited financial statements for Q3 2021 filed with the Nigerian Exchange Limited on Tuesday, its earnings per share also dropped to ₦4.54 from ₦5.02.

GTCO, however, grew its assets from ₦4.94tn to ₦5.14tn.

Its cash and cash equivalents rose to ₦757.75bn from ₦592.66bn.

Meanwhile, following the purchase of major shares by billionaire businessman, Femi Otedola, the share price of First Bank Holdings (FBN) Plc recorded a decline.

Naija News understands that this was due to speculators selling off after buying into the bank following the heavy activity on the stock in the course of share purchase by Otedola.

It was gathered that the share price fell by 1.20 percent to ₦12.40 per share from ₦12.55 the previous day, while volume traded also took a downward turn, declining to 73.062 million from 350.54 million on Monday, thus representing a 79.2 percent decline in activity level. Deals also slumped by 28.6 percent to 545 from 763.