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GTCO input decrease of N214.2 Billion In Pre-tax Profit

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  According to the new report, as of last year, there is a decrease of N214.2 billion in the pre-tax profit of Guaranty Trust Holding Company (GTCO) Plc.  Speaking on the report, there was a decrease of N35.6 billion in the Ghanian sovereign securities, and also at the end of last year, the company records show a decline in the profit before tax from N221.5billion in 2021 to N214billion which make  3.3 percent. According to the company, there is an increase of 4.6 percent in the group's netbook from N1.80 trillion to 1.89 trillion as of last year which make a growth in the investment. According to the report shown, there is also an increase in Deposit liabilities and the total group assets and shareholders' funds. There is a growth in the Capital Adequacy Ratio. According to the Chief Executive Officer Of Guarantee Trust Holding Company, Mr.Segun Agbaje, Group Chief Executive Officer, Guaranty Trust Holding Company (GTCO) Plc, Mr. Segun Agbaje, talking about the group res...
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NDIC Begins Verification Of Peak Merchant Bank Depositors April 26

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The Nigeria Deposit Insurance Corporation (NDIC) has called on depositors of the defunct Peak Merchant Bank to come for verification for the payment of their insured deposits. The NDIC in a document posted on its official Twitter handle by the Claims Resolution Department of the Corporation, said the verification would commence between April 26 and May 6. The Corporation listed the locations for the exercise to include Eket, Akure, Bonny, and Warri. NDIC said that depositors can also visit the claim’s page on the Corporation’s website on www.ndic.gov.ng for their verification. According to the News Agency of Nigeria (NAN), the purpose of the deposit insurance system was to protect depositors and guarantee the settlement of insured funds when a deposit-taking financial institution could no longer repay their deposits.he Corporation said that depositors can also send email to its designated email address claimscomplaints@ndic.gov.ng. NDIC guarantees the payment of deposits up to the maxi...
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Fidelity Bank Records 112 Percent Increase In Profit

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For the 2022 financial period, Fidelity Bank has revealed that it recorded a profit before tax of N53.7 billion, representing 112.9 per cent annual growth. It said this in a statement on Thursday in its 2022 audited financial statements. According to the bank, its gross earnings rose by 34.4 per cent Year-on-Year to N337.1 billion in the 2022 financial period, driven by 45.2 per cent growth in interest and similar income to N295.6 billion. Commenting on the bank’s performance, the Managing Director/Chief Executive Officer, Fidelity Bank Plc, Nneka Onyeali-Ikpe, said, “We are happy to report another year of impressive double-digit growth across key income and balance sheet lines. “This validates our growth strategy and capacity to deliver superior returns to shareholders.” Further review showed that net interest income increased by 60.9 per cent YoY to N152.7 billion.
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