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GTBank Announces Full Year 2017 PBT of N200.24Billion 

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Aiming to strengthen its long-term competitiveness and growth prospects, Guaranty Trust Bank plc has completed its re-organisation to a Holding Company Structure. Under the terms of the re-organisation, a new operating company has been established and amendments made to the articles of incorporation for a corporate name change. The corporate name of Guaranty Trust Holding Company Plc and GTCO Plc will be used by the newly established operating company. The newly established Guaranty Trust Holding Company Plc is also pleased to announce its new Board of Directors as well as changes to the Board of its banking subsidiary, Guaranty Trust Bank Limited. All the appointments have been approved by the Central Bank of Nigeria and disclosed to the Securities and Exchange Commission and the Nigerian Exchange Group. Guaranty Trust Holding Company Plc (“GTCO Plc”) will be governed by a Board of Directors comprising, Mr. Sola Oyinlola as Chairman of the Board and Mr Segun Agbaje as the Group Chief Executive Officer, Mr Adebanji Adeniyi as Executive Director, Mrs Cathy Echeozo as Non-Executive Director, Mr. Suleiman Barau and Mrs. Helen Bouygues as Independent Non-Executive Directors The Banking subsidiary, Guaranty Trust Bank Limited will be governed by a Board of Directors comprising, Mr Ibrahim Hassan as Chairman of the Board, Mrs Miriam Olusanya as Managing Director, Mr Jide Okuntola as Deputy Managing Director, Mr Haruna Musa as Executive Director, Mr Olabode Agusto as Independent Non-Executive Director, Ms Imoni Akpofure and Mrs Victoria Adefala as Independent Non-Executive Directors. Commenting on the completion of the Corporate Reorganization, Mr Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We believe that a Holding Company Structure will allow us take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base. We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships. As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”. He further stated that, “Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success. As a Proudly African and Truly International band, we will continue to live by these values—of excellence, hard work and integrity, even as we create faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.” Prior to its corporate reorganization to Guaranty Trust Holding Company Plc, Guaranty Trust Bank Plc has been at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders. It is widely regarded as the best managed financial institution in Nigeria and has, over the past decade, embarked on a period of unparalleled growth, growing its customer base from less than 3 million customers in 2011 to over 24million customers in 2020, and profit before tax from ₦45.5 billion at the end of the 2010 financial year to ₦238.1billion at the end of the 2020 financial year.

 

Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2017 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 year grew by 1.1% to ₦419.2billion from ₦414.6billion reported in the December 2016; driven primarily by growth in interest income as well as e-payment revenues. Profit before tax stood at ₦200.2billion, representing a growth of 21.3% over ₦165.1billion recorded in the corresponding year ended December 2016. The Bank’s loan book dipped by 8.9% from ₦1.590trillion recorded as at December 2016 to ₦1.449trillion in December 2017 while customer deposits increased by 3.8% to ₦2.062trillion from ₦1.986trillion in December 2016.

 

The Bank’s balance sheet remained strong with a 3.9% growth in Total Assets and Contingents as the Bank closed the year ended December 2017 with Total Assets and Contingents of ₦3.845trillion and Shareholders’ Funds of ₦625.2Billion. In terms of Assets quality, NPL ratio increased to 7.7% in December 2017 from 3.7% in December 2016 largely as a result of classification of a single exposure within the Nigerian Telecommunications Industry. However, non-performing loans would moderate to 4.6%, which is below regulatory threshold, if we exclude this name from NPL ratio computation. Overall, asset quality remains stable with adequate coverage of 119.6%, while Capital remains strong with CAR of 25.7%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) closed at 35.4% and 6.2% respectively. The Bank is proposing a final dividend of 240k per unit of ordinary shareheld by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2017 financial year to ₦2.70 per unit of ordinary share.

 

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “2017 was a pivotal year for the bank. We delivered a strong result in a challenging environment; achieving record growth in earnings, carefully managing cost margins and leveraging our digital-first customer-centric strategy to deliver world-class services that are simple, cheap and easily accessible.”

 

He further stated that “The result demonstrates the fundamental strength of our franchise as well as the progress we are making in transforming our organization into a platform on which our customers could build their businesses, connect with their consumers and access all the resources that they need to make their lives better.”

 

GTBank has continued to report the best financial ratios for a Financial Institution in the industry as revealed by its return on equity (ROE) of 35.4% and cost to income ratio of 38.1% evidencing the efficient management of assets and operational efficiency. Overall, the Bank has enshrined its position as a clear leader in the industry. In recognition of its innovation and hard work, the Bank received over 20 international awards in 2017.

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Dr Ifeoma Eze gives reasons on how to know A Genuine Vision

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Dr Ifeoma Eze gives reasons on how to know A Genuine Vision

Dr Ifeoma Eze, a mentor and author of different books gave an insight from her book ” Becoming A Person Of Exceptional Value”, shed more light on The Elements Of A Genuine Vision.

*THE ELEMENTS OF A GENUINE VISION*

There are five key elements that must be present whenever you receive a genuine vision. They are;

1. *Knowing what to do.*
Every genuine vision must be clear, and the terms well spelt out on what to do. It should be tangible and clear enough for anybody to understand. Hab. 2:2.

2. *Knowing when to do it.*
Every genuine vision impacted by God has a time of appointment. Eccl. 3:1-3, Eccl. 9:11, Ps. 31:15. When a man is in the right purpose at the right time, he won’t miss his honour. Knowing the time of your vision requires a lot of prayers which will lead you to high level of sensitivity to the Holy Spirit. Acts 13:1-3.

3. *Knowing where to do it.*
Every genuine vision has an appointed place because destiny answers to the location. Divine location provokes divine allocation. Places are important, hence, God makes places before bringing you on. Gen. 2:15. He made the garden before placing Adam in it! When you get to that God’s appointed location, you will also meet provision for the vision.

And it came to pass after these things, that God did tempt Abraham, and said unto him, Abraham: and he said, Behold, here I am.

[11] And the angel of the Lord called unto him out of heaven, and
said, Abraham, Abraham: and he said, Here am I.

[12] And he said, Lay not thine hand upon the lad, neither do thou any thing unto him: for now I know that thou fearest God, seeing thou hast not withheld thy son, thine only son from me.

[13] And Abraham lifted up his eyes, and looked, and behold behind him a ram caught in a thicket by his horns: and Abraham went and took the ram, and offered him up for a burnt offering in the stead of his son. [14] And Abraham called the name of that place Jehovah-jireh: as it is said to this day, In the mount of the Lord it shall be seen

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Gen. 22:1, 11-14.

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In the scripture, we saw that God deliberately and patiently waited for Abraham to obediently relocate and get to the God-appointed place for the sacrifice and having a readiness to obey God in full; before God made provision of the lamb for the sacrifice. Hence, Jehovah Jireh is the name of God because it is a place where provision met with the discovery of the God-appointed place.

4. *Knowing who to do it with*.

Every God given vision will require some Godly and God-given relationships to make it work. Where there is no vision, the people perish; but where there is vision without people, the vision becomes a burden. The best gift a leader can receive from God is the gift of men.

5. *Knowing How to do it:*

Every vision has a pattern. When God asks you to do a thing it is important that you obtain clear instructions on the structure, pattern and style required to fulfill that vision!

And let them make me a sanctuary; that I may dwell among them. [9] According to all that I shew thee, after the pattern of the tabernacle, and the pattern of all the instruments thereof, even so shall ye make it. Exodus 25:8-9 KJV

Building outside the pattern is setting yourself up for failure. Adherence to set pattern is guarantee for divine presence and guidance.

*VISION KILLERS*
It is possible to receive a vision from God but still experience frustration in life because of the following vision killers. Some vision killers include;

1. *Tradition.*( Mark 7:13.)

2. *Fear*- It paralyses creativity.

3. *Stereotypes structural rigidity. Break the satus quo.*

4. *Lack of Discipline and Laziness*

5. *Comparison*

6. *Procrastination*

7. *Wrong Association*

*Coined from the book, Becoming A Person Of Exceptional Value By Dr. Ifeoma Eze, The King’s Rubies*

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PRESIDENT TINUBU CONGRATULATES JIM OVIA ON ADMISSION TO THE FREEDOM OF THE CITY OF LONDON

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PRESIDENT TINUBU CONGRATULATES JIM OVIA ON ADMISSION TO THE FREEDOM OF THE CITY OF LONDON

 

 

 

President Bola Tinubu has congratulated the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR, on his admission to the prestigious Freedom of the City of London.

 

PRESIDENT TINUBU CONGRATULATES JIM OVIA ON ADMISSION TO THE FREEDOM OF THE CITY OF LONDON

 

Admission to the Freedom of the City of London is an honour bestowed on individuals either for their service to the city or for their achievements.

 

 

 

In a press statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, President Tinubu described the honour as a fitting recognition of Mr. Ovia’s exceptional contributions to business, innovation, and technology, as well as for his role in shaping Nigeria’s financial landscape and strengthening economic ties between Africa and the rest of the world.

 

 

 

“This honour is a testament to your unwavering commitment to excellence, your pioneering role in the growth of the financial services sector in Nigeria, and your visionary leadership that continues to inspire generations. As an accomplished entrepreneur and advocate of innovation-driven development, your recognition in the City of London affirms the global relevance of Nigerian excellence and enterprise,” the President stated.

 

 

 

President Tinubu commended Mr. Ovia for being a distinguished ambassador of the nation’s private sector and wished him continued success in his endeavours.

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Adron Homes Celebrates Eid-al-Fitr, Wishes Nigerians Peace and Prosperity

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Adron Homes Celebrates Eid-al-Fitr, Wishes Nigerians Peace and Prosperity

 

Adron Homes and Properties extends warm greetings to the Muslim community across Nigeria and beyond as we celebrate the joyous occasion of Eid-al-Fitr.

As we mark the end of Ramadan, a season of faith, sacrifice, and devotion, we reflect on the values of unity, gratitude, and generosity that define this celebration. The blessings of fasting and prayers bring peace, progress, and abundance to our beloved nation, and we pray for continued harmony, stability, and prosperity for Nigeria and its people.

At Adron Homes, this season is also a time to express our heartfelt appreciation to our esteemed customers. Your trust, loyalty, and commitment to choosing Adron Homes as your partner in the journey to homeownership mean everything to us. Your belief in our vision inspires us to continue providing affordable, luxurious, and accessible housing solutions, making homeownership a reality for all.

As you celebrate Eid with your loved ones, may your homes be filled with peace, joy, and countless blessings. We remain dedicated to building vibrant communities where families can thrive and create lasting memories.

Eid Mubarak! Thank you for being part of the Adron Homes family.

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