Business
GTBank Records Profit Before Tax of N109.6BN for H1 2018 Audited Results
Guaranty Trust Bank plc has released its audited financial results for the period ended June 30, 2018 to the Nigerian and London Stock Exchanges.
A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria. Gross earnings for the period grew by 5.9% to ₦226.6billion from ₦214.1billion reported in June 2017. Profit before tax stood at ₦109.6billion, representing a growth of 8.4% over ₦101.1billion recorded in the corresponding period of June 2017.The Bank’s Loan Book dipped by 10.8% from ₦1.449trillion recorded as at December 2017 to ₦1.293trillion in June 2018, while customers’ deposit grew by 10.0% to ₦2.269trillion from ₦2.062trillion in December 2017.
The Bank’s balance sheet remained strong with a 5.9% growth in Total assets as the Bank closed the period ended June 2018 with Total Assets of ₦3.549trillion and Shareholders’ Funds of ₦497.1Billion. In terms of Assets quality, NPL ratio improved to 5.8% in June 2018 from 7.7% in December 2017. Overall, Asset quality improved with Cost of Risk of 0.1% and adequate coverage of 167.5% for Lifetime Credit Impaired Loans i.e. NPLs. Capital remains strong with CAR of 22.04% in spite of the implementation of IFRS 9. On the backdrop of this result, Post- Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 34.1% and 5.5% respectively.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “In spite of declining yields and the challenges in the operating environment, we have delivered a decent half year result. The quality of this result is built on the strength of our businesses as well as the success of our digital-first customer-centric strategy in delivering financial services that are simpler, cheaper and more valuable to our customers’ everyday lives.”
He further stated that “We will continue to focus on consolidating our leading position in all the economies in which we operate by staying committed to building a business that is both nimble and efficient whilst strengthening relationships with our customers and creating business platforms that provide them with additional benefits beyond banking.”
GTBank continues to be best in class in terms of all financial ratios posted by Financial Institutions in the Industry as indicated by its Post-Tax Return on equity (ROE) of 34.1%, Post-Tax Return on Assets (ROAA) of 5.5%, Cost to Income ratio of 38.8%, NIM of 9.6% and PBT margin of 48.4%. These ratios are testament to competent and experienced Management and work-force, efficient Balance sheet structure complemented with Operational efficiency of the Bank. In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years. These include Africa’s Best Bank for SMEs and Best Bank in Nigeria from Euromoney Magazine, African Bank of the Year from African Banker Magazine, Best Banking Group and Best Retail Bank from World Finance Magazine, Best Bank in Africa for Corporate Governance from Ethical Boardroom Magazine.
Business
Adron Homes Unveils Sallah Mega Promo with 30% Discount and Exciting Gift Rewards for Subscribers
Adron Homes Unveils Sallah Mega Promo with 30% Discount and Exciting Gift Rewards for Subscribers
As the festive spirit of Eid al-Adha (Sallah) approaches, Adron Homes & Properties, Nigeria’s leading real estate company, has announced a nationwide Sallah Mega Promo designed to reward subscribers with unbeatable discounts, flexible payment plans, and exciting gift items.
The limited-time promotional campaign aims to empower Nigerians to celebrate the season of sacrifice with both joy and long-term investment security by making property ownership more accessible and rewarding. Subscribers can enjoy a 30% discount on all plots across Adron estates nationwide, alongside a flexible payment plan of up to 36 months. In addition, clients can spread their initial deposit over four months, easing financial pressure while securing valuable real estate assets.
According to the company, the Sallah promo reflects its continued commitment to providing affordable housing solutions while rewarding both new and existing clients during key festive periods.
“Sallah is a time of giving, sacrifice, and celebration. At Adron Homes, we believe there is no better time to empower families and investors with the opportunity to own land while also receiving valuable gifts that enhance their celebration,” the company stated.
As part of the promo, subscribers will enjoy a wide range of gift rewards tied to their payment milestones. Platinum plot subscribers stand to receive items such as bags of rice ranging from 10kg to 50kg, food packs with chicken and seasoning, goats and rams for Sallah celebrations, and even a cow or a double-door refrigerator for high-value subscribers. Compact plot subscribers will also benefit from gift items including bags of rice, vegetable oil, cartons of noodles, goats, and other household essentials designed to support festive celebrations.
Over the years, Adron Homes & Properties has remained at the forefront of real estate development in Nigeria, consistently delivering affordable luxury and flexible payment structures tailored to a wide range of investors. The Sallah Mega Promo further reinforces the company’s mission to democratize property ownership while strengthening its relationship with clients through value-driven initiatives.
Prospective subscribers are encouraged to take advantage of this limited-time offer by contacting Adron Homes through its official channels.
📲 WhatsApp: +234 805 101 1951
🌐 Website: Adron Homes Official Website
With the Sallah season fast approaching, this promo presents a unique opportunity for Nigerians to celebrate meaningfully by securing their future through real estate investment while enjoying generous festive rewards.
*Please be careful, there’s a WhatsApp scam going around
Scammers are currently impersonating Aigboje Aig-Imoukhuede, the Chairman of Access Holdings Plc, to trick people into fake investment schemes.
They’ve created a WhatsApp group called *“Value Focus Club 60”* using this number: *+234 915 708 8290*, and even used his picture to make it look real.
*Important things to know*:
• The Chairman is NOT on WhatsApp running any investment group
• Access Holdings does NOT offer investment advice via WhatsApp
• Any message claiming otherwise is 100% fake
A whistleblower actually spotted this and raised the alarm, so please don’t ignore this.
*What you should do*:
• Don’t join the group or engage them
• Don’t share your personal or banking details
• Block and report the number on WhatsApp
• Let others know so they don’t fall victim
The company is already working to shut it down, but awareness is key.
Please share this with your contacts, someone you know could be targeted.
HOUSE OF BIMPE FIT GAINS ATTENTION WITH TRENDY UNISEX FASHION LINE
LAGOS — A fast-rising fashion brand, House of Bimpe Fit, is making waves in the style scene with its collection of modern, elegant outfits designed for both men and women.
The brand, which showcases a blend of contemporary and classic designs, is quickly attracting attention for its attention to detail and quality finishing. From sharply tailored men’s native wears and suits to chic, figure-flattering outfits for women, House of Bimpe Fit is positioning itself as a go-to destination for fashion lovers seeking both style and comfort.
Speaking on the brand’s vision, the management emphasized its commitment to delivering “quality outfits for both men and women,” ensuring customers step out with confidence and class regardless of the occasion.
Fashion enthusiasts have particularly praised the brand’s versatility, as it caters to a wide range of tastes—from corporate elegance to casual sophistication.
With an active presence on social media, especially on TikTok via @house_of_bimpefit, the brand is leveraging digital platforms to reach a broader audience and showcase its latest collections.
Industry watchers say House of Bimpe Fit is one to watch, as it continues to carve a niche for itself in Nigeria’s competitive fashion industry.
For inquiries, customers can contact the brand via phone at 0802 686 6277.
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