BUSINESS

GTCO Grows Profit By 4.11% In Q3 2021

Guaranty Trust Holding Company (GTCO), Africa’s leading bank has released its statements of financial position as at 30 September 2021 with 4.11% growth in profit for the three months period to N49.986 billion from N48.012 billion in Q3 2020.

However, profit for the six months ending 30 September 2021 dropped by 9.05% to N129.401 billion from N142.283 billion in 2020.

The group recorded a drop in net interest income to N162.943 billion in six months from N189.736 billion in 2020. Net interest income for three months was N55.887 billion, down from N62.121 billion in Q3 2020.

There was an improvement in other income in the six months to N48.392 billion from N45.339 billion in 2020.

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