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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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Alpha Morgan Bank Expands Footprint with Three New Branches

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Alpha Morgan Bank Expands Footprint with Three New Branches

Alpha Morgan Bank Expands Footprint with Three New Branches

 

Alpha Morgan Bank announced the opening of three new branches in Maitama Abuja, Garki Abuja and Olu Obasanjo Road, Port Harcourt, a strategic move that reinforces the bank’s commitment to expanding access to satisfying banking services across Nigeria.

 

With headquarters in Wuse 2, Abuja, and kickstart with over 14 branches nationwide, the bank’s expansion is expected to create several opportunities, supporting employment opportunities, stimulating small business growth and development initiatives through strategic partnerships and outreach.

“This growth is about deepening our connection to the communities we serve,” said Mr. Ade Buraimo, Managing Director/CEO of Alpha Morgan Bank. “We are not just opening doors; we are opening opportunities.”

The bank also offers tailored banking solutions, through its digital and *734# USSD banking. Alpha Morgan Bank is ensuring that individuals and businesses, regardless of background or digital literacy, can participate fully in the financial ecosystem.

Alpha Morgan Bank Expands Footprint with Three New Branches
Alpha Morgan Bank’s growth is anchored in a bold commitment to delivering satisfying banking to customers.
As the new branches open their doors, the Bank invites individuals, entrepreneurs, and corporate clients to walk in and experience its approach to Satisfying Banking.

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Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes

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Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes Seals Three-Year Contract By Oluwaseun Fabiyi

Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes

– Seals Three-Year Contract

By Oluwaseun Fabiyi

Masterpiece Homes Development and Gardens Limited has taken a bold step in strengthening its brand presence by unveiling celebrated Nollywood actress Joke Lawal as its new brand ambassador. The landmark announcement came with the signing of a three-year contract at the company’s head office in Lagos on Friday, August 22, 2025.

The unveiling ceremony, described as a major milestone in the company’s growth, featured a symbolic presentation of a branded Masterpiece T-shirt and the signing of official documents by Joke Lawal and the company’s Chairman, Prophet Israel Oladele Ogundipe, alongside the Group Managing Director, Mr. Emmanuel Oladimeji. The atmosphere was charged with excitement as dignitaries, industry stakeholders, and guests applauded the partnership.

Actress Joke Lawal Unveiled as Brand Ambassador for Giant African Real Estate Firm, Masterpiece Homes
Seals Three-Year Contract
By Oluwaseun Fabiyi

Speaking at the event, Prophet Ogundipe expressed pride in the company’s achievements despite industry challenges. He emphasized the importance of youth participation in Nigeria’s real estate sector for long-term sustainability. “Masterpiece Homes continues to be a trailblazer in the industry. This partnership with Joke Lawal is a testament to our vision of connecting heritage, innovation, and trust,” he said.

Group Managing Director, Mr. Oladimeji, hailed the initiative as a strategic move that positions Masterpiece Homes beyond the confines of a conventional real estate firm. “This is more than business—it is about celebrating our resilience and creativity as Nigerians. Our new brand ambassador will play a pivotal role in reinforcing our value chain while ensuring we preserve a genuine real estate culture for generations,” he stated.

Joke Lawal, visibly elated, described Masterpiece Homes as a symbol of innovation and authenticity in Nigerian real estate. “This unveiling represents a bold step in redefining the real estate sector in Nigeria. Masterpiece Homes is not just a company—it is a celebration of identity, trust, and vision,” she remarked.

The event featured vibrant performances, with guests clad in branded attires, reflecting the company’s culture of community celebration.

Masterpiece Homes Development and Gardens Limited has long been recognized as a reputable real estate brand connecting Nigerians at home and abroad to legitimate homeownership opportunities. With Nigeria’s real estate now ranked as the nation’s third-largest sector—behind crop production and trade—the company has renewed its commitment to bridging investment opportunities between Africa and the diaspora.

The unveiling of Joke Lawal as brand ambassador, according to Mr. Oladimeji, is not only a milestone for Masterpiece Homes but also a stimulus for broader industry growth. “Diaspora investments in Nigerian real estate remain vital. By creating systems that make homeownership seamless, Masterpiece ensures a win-win for all stakeholders,” he noted.

With this partnership, Masterpiece Homes Development and Gardens Limited positions itself to expand its influence and uphold its reputation as a trusted leader in Africa’s booming real estate market.

Oluwaseun Fabiyi is the official media consultant to Masterpiece Homes Development and Gardens Limited

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Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership

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Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership

Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership

 

The newly approved Ibeju-Lekki Branch of the Nigerian Society of Engineers (NSE), which recently emerged as the 91st branch of the Society, has paid a courtesy visit to the Chairman/CEO of Adron Homes and Properties Limited, Sir Aare Adetola Emmanuel King KOF, at the company’s headquarters.

 

Adron Homes Chairman Hosts NSE Ibeju-Lekki Executives, Explores Strategic Partnership

 

The delegation of engineers, led by Engr. Olufemi Dare, FNSE, the Chairman of the Branch, described the visit as a strategic step towards strengthening relationships with corporate organizations that have consistently upheld professionalism and structural integrity in their projects.

 

In his remarks, Engr. Dare praised Adron Homes for its exceptional commitment to quality housing delivery across Nigeria and beyond, emphasizing that its reputation for structural integrity and innovation in real estate development stands as a reference point for engineering excellence. He further informed the Adron Chairman that the branch would be conferring an award of recognition on him at their forthcoming official inauguration ceremony, in acknowledgment of his outstanding contributions to housing development and infrastructural growth in Nigeria.

 

The discussions also explored potential partnership opportunities between NSE Ibeju-Lekki and Adron Homes in engineering, professional development, and sustainable housing innovations.

 

Responding, the Chairman of Adron Homes, Sir Aare Adetola Emmanuel King, warmly welcomed the delegation and expressed delight at the prospect of a lasting partnership. He acknowledged the critical role engineers play in national development, while also noting the numerous challenges facing the engineering sector in Nigeria. He stressed that these challenges can only be surmounted by engaging qualified and dedicated professionals, a principle upon which Adron Homes has built its reputation.

 

According to him, “Engineering is the backbone of any meaningful infrastructural advancement, and as developers, we cannot afford to compromise on professionalism. This is why I am excited about this partnership and look forward to building a mutually beneficial relationship with the NSE Ibeju-Lekki branch.”

 

The NSE Ibeju-lekki delegation included Engr. Tiramisu Bello, MNSE (Vice Chairman); Engr. Omolola Adetola, FNSE (General Secretary); Engr. Taiwo Musa, MNSE (Assistant General Secretary); Engr. Ayodele Agunloye, MNSE (Financial Secretary); Engr. Opeyemi Olabisi, MNSE (Technical Secretary); Engr. Oluwadare Raji, MNSE, among several others.

 

On the part of Adron Homes, the Chairman was joined by key members of the executive team, including Adenike Ajobo, Managing Director; Tolani Roberts, Deputy Managing Director, Business Investment and Development; Mr. Kunle Ifeanyi Konwea, Director of Brand and Communications; Maureen Echefu, Chief Press Secretary, among others.

 

The visit not only highlighted Adron Homes’ enduring commitment to professional engineering standards, but also set the tone for a new chapter of collaboration between the real estate giant and the newly inaugurated NSE Ibeju-Lekki Branch, with both parties pledging to drive innovations that will redefine housing and infrastructural development in Nigeria.

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