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GTBank Releases Q3 2018 Unaudited Results…..Reports Profit before Tax of ₦164.2 Billion

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Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 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 8.8% to ₦337.3billion from ₦309.9billion reported in September 2017. Profit before tax stood at ₦164.2billion, representing a growth of 9.5% over ₦150.0billion recorded in the corresponding period of September 2017. The Bank’s Loan Book dipped by 12.3% from ₦1.449trillion recorded as at December 2017 to ₦1.270trillion in September 2018, while customers’ deposit grew by 8.6% to ₦2.239trillion from ₦2.062trillion in December 2017.

The Bank’s balance sheet remained resilient with Total assets and Shareholders’ Funds closing at ₦3.433trillion and ₦534.3Billion respectively, a 2.4% growth from Total Asset Position of ₦3.351trillion as at December 2017, Capital Adequacy Ratio (CAR) however dipped by 300bps to 22% despite the impact of IFRS 9 implementation. In terms of Assets quality, NPL ratio and Cost of Risk (COR) improved to 5.6% and 0.1% in September 2018 from 7.8% and 0.5% position in December 2017 respectively. Complementing the improvement noted in NPLs and COR, we maintained adequate Loan Loss coverage of 180.6% for Lifetime Credit Impaired Loans (NPLs). On the backdrop of this result, Post- Tax Return on Equity (ROE) closed at 32.7% while Return on Assets (ROA) stood at 5.6%.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “Despite operating in a very challenging business environment, our 3rd quarter result is a reflection of how we have appropriately positioned our balance sheet to cope with economic realities. It further demonstrates the strength of our business strategy to deliver financial services that enriches the lives of our customers and creates more value for all our stakeholders.”

He added that, “Going into the final quarter of the year, the Bank will continue to drive its digital-first customer-centric strategy to improve customer experience and expand its range of service offering whilst constantly differentiating itself by maintaining a high standard in service delivery and putting customers at the heart of everything that we do.”

Over all, Guaranty Trust Bank plc continues to be best-in-class in the Nigerian banking industry in terms of all financial ratios i.e. Post-Tax Return on Equity (ROE) of 32.7%, Post-Tax Return on Assets (ROA) of 5.6%, Cost to Income ratio of 38.3% and PBT margin of 48.7%. These ratios are testament to experienced Management, efficient Balance sheet structure coupled with operational efficiency of the Bank.

In recognition of the Bank’s stance on world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards in the course of the year. They include Best Banking Group & Best Retail Bank in Nigeria from World Finance Magazine and Best Mobile payments service & Digital Wallet of the year from Asian Banker Magazine.

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Why We Honoured AfricentOCL UK, Several Other Top Businesses

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Why We Honoured AfricentOCL UK, Several Other Top Businesses

 

 

 

 

 

 

 

 

 

 

 

 

Greater London Enterprise Awards’ organizers

 

 

 

 

 

 

 

 

 

 

 

Sahara Weekly Reports That SME News Magazine has announced the winners of its 2023 Greater London Enterprise Awards. Africentocl Uk Ltd is one of the prestigious recipients of the honour, for its contribution to the development of the maritime sector globally. AfricentOCL UK won the ‘Best Maritime Materials and Vessel Chartering Provider’ category.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Why We Honoured AfricentOCL UK, Several Other Top Businesses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

According to a statement from the organizers, the awards event is held annually to honour outstanding top businesses for their special contributions in their sectors. Now in its seventh year, SME News’ ‘Greater London Enterprise Awards’, the organizers say, has continued to recognize SMEs at the very beating heart of the corporate landscape, as they continue to put their best foot forward on a daily basis. “Within the awards programme, we get a deeper understanding of what makes Greater London so bold as we delve into the businesses and individuals who live and breathe progression, compassion, and innovation,” the statement reads.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AfricentOCL UK was bestowed with the award, according to SME News, because of its excellent leadership in service, which distinguishes it and co-awardees and make them outstanding sector leaders. AfricentOCL is a leading global physical commodities and vessels chartering brokerage company, with a strong track record of success in the maritime sector with a unique quality of extensive experience and expertise in the physical commodities trading market.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Having developed a rare knack for managing people and resources, the AfricentOCL chief executive officer, Mr. Juwon Lawal Razaq, an official member of the Forbes Business Council and global ambassador and member of the Commonwealth Entrepreneurs Club in London, has made a remarkable impact on the maritime sector. With the courage and boldness of a lion, he has successfully confronted the daunting task of running one of the most strategic aspects of the maritime business.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

His company, before the Greater London Enterprise Awards’ honour, has also been recognized both in Nigeria and abroad as one of the best marine companies in the world.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

According to Kaven Cooper, the Greater London Enterprise Awards coordinator, “This 2023 edition of Greater London Enterprise Awards was a delight to host”, emphasizing that Africentocl Uk Ltd and other awardees were found to be “focused, determined, and soulful businesses reaching their clients and customers with pride and precision.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“We pride ourselves on the validity of our awards and winners. The awards are given solely on merit and are awarded to commend those most deserving for their ingenuity and hard work, distinguishing them from their competitors and proving them worthy of recognition,” the organizers elucidate.

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The Dotun Adesua Symposium Paves Way for Nigeria’s Creative Industry Advancement

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The Dotun Adesua Symposium Paves Way for Nigeria's Creative Industry Advancement

The Dotun Adesua Symposium Paves Way for Nigeria’s Creative Industry Advancement

 

The Dotun Adesua Symposium, an earnest endeavor to cultivate meaningful dialogue within Nigeria’s dynamic creative industry, has laid a firm groundwork upon which this vibrant sector can flourish and become a catalyst for national development.

 

 

The Dotun Adesua Symposium Paves Way for Nigeria's Creative Industry Advancement

 

 

 

The symposium, held in Lagos, brought together luminaries, industry professionals, and creative minds under the theme, “Nurturing Creative Talent For Nation-Building. “It served as a pivotal platform for driving conversations that are essential to the growth and prosperity of the nation.

 

At the heart of the symposium was the visionary mission to bridge the gap between established professionals, mentors, and the emerging generation seeking guidance. The symposium aimed to equip these budding talents with invaluable knowledge and insights while fostering stronger connections between industry leaders and the creative pioneers of tomorrow.

 

In his keynote address, President and Chairman, Governing Council of the National Institute of Marketing Nigeria (NIMN),  Mr. Idorenyen Enang set the tone for the symposium illuminating the diversity within the creative industry, with each facet underpinned by creativity at its core.

 

Using a metaphorical dining table, Enang vividly illustrated how consumers often engage with creative products without fully comprehending the intricate workings of the industry. He emphasized the need for professionals to expand their horizons and deepen their knowledge.

 

Enang went further to underscore that the journey of nurturing creative talent commences at home, drawing parallels with the farming process. He likened the act of planting seeds to the inception of creativity, asserting that the cultivation of creative talent begins with education.

 

“Mentorship plays an indispensable role in guiding individuals along their creative journeys, nurturing the sparks of genius within them.” Enang firmly stated.

 

The symposium also featured a panel session where the President of the Association of Professional Party Planners and Event Managers of Nigeria, Funbi Akinyosoye shared her insights on the pivotal role of education in unlocking creative potential.

 

Akinyosoye recounted her personal journey, highlighting that formal education alone does not define one’s ability to infuse perfectionism into their work.

 

She encouraged young individuals to embark on creative explorations, even in seemingly minor endeavors, reinforcing the notion that education provides the platform for them to express themselves more effectively.

 

Veteran Comedian and Compere, Gbenga Adeyinka the 1st, brought his wealth of experience to the panel.

He shared his experiences in propelling the comedy sector in Nigeria’s southwest region, despite initial skepticism regarding his choice of location for shows.

 

Adeyinka emphasized his steadfast dedication to nurturing talents, which has played a pivotal role in the remarkable growth of comedy in the region. He dispelled the misconception that creativity is synonymous with chaos and underscored the importance of structure in delivering successful creative projects.

 

Summing up the symposium’s significance, the Convener Dotun Adesua, declared that the symposium sent a resounding message: Nurturing creative talents is not merely an individual odyssey but a crucial contribution to Nigeria’s cultural and economic development.

 

Adesua announced that the symposium marked the initiation of an annual tradition, poised to continue inspiring and connecting professionals with emerging talents within the creative industry, adding that  subsequent events would propel Nigeria forward through the transformative power of creativity and mentorship, envisioning a brighter future for the nation’s creative landscape.

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Celebrate Independence Day with a Star-Studded Extravaganza at Roseview Court Hotel & Apartments!

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Celebrate Independence Day with a Star-Studded Extravaganza at Roseview Court Hotel & Apartments!

 

 

 

As the leaves begin to change and the air turns crisp, the vibrant spirit of independence takes center stage. October 1st marks a day of celebration, reflection, and unity. At Roseview Court Hotel & Apartments, we believe in commemorating this historic day in grand style. And this year, we have something truly extraordinary in store for you!

 

 

 

 

 

This Independence Day, come together with friends and family to celebrate Nigeria’s rich heritage, culture, and the spirit of unity. Roseview Court Hotel & Apartments is proud to host an event of this magnitude, featuring the sensational Seidu and Juwon Flavour. Get ready to groove, savor delicious cuisine, and witness a spectacular performance from the sensational duo, Seidu and Juwon Flavour.

 

 

Celebrate Independence Day with a Star-Studded Extravaganza at Roseview Court Hotel & Apartments!

 

 

Join us on October 1st for an unforgettable Independence Day celebration that will leave you breathless. Roseview Court Hotel & Apartments has always been known for its commitment to creating memorable experiences, and this event will be no exception.

 

 

 

 

To make the most of this Independence Day celebration, book your stay at Roseview Court Hotel & Apartments. Our luxurious rooms and apartments are designed for your comfort and relaxation, ensuring your stay is as memorable as the event itself. Be sure to ask about our special Independence Day packages when making your reservation.

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