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 result which was successful help differently. 

“Despite the varying challenges and headwinds that weighed on growth in 2022, we were determined to deliver a decent performance and scale effectively to strengthen our competitive edge and drive long-term growth. 

“As an organization, 2022 was quite significant for us being the first year after our corporate restructuring into a financial holding company in August 2021. Today, across our banking, payment, funds management, and pension businesses, we have successfully built a robust ecosystem with immense potential to deepen our addressable market and create more value for all our stakeholders.

“We will continue to prioritize innovation, service excellence, and execute seamlessly towards achieving our vision of leading financial services in Africa,” Agbaje said.

He further speaks,   concerning the result of the company in the financial aspect, the financial ratio with a pre-tax record of 23.6percent, and also the capital, adequacy ratio of 24.1percent

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