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GTBank Releases Q3 2020 Unaudited Results…….. Reports Profit before Tax of ₦167.4 Billion

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Guaranty Trust Fund Managers Limited Launches Guaranty Trust Investment Fund 724

Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2020 to the Nigerian and London Stock Exchanges.

 

 

 

The 3rd Quarter result shows improved performance across key financial metrics, reaffirming the Bank’s capability to navigate the current economic challenges occasioned by impact of COVID 19 on World economies. The performance reflects its position as one of the leading and best managed financial institutions in Africa. The Group reported Profit before tax of ₦167.4billion, representing a decrease of 1.9% over ₦170.7billion recorded in the corresponding period of September 2019 and an improvement on the 5.2% dip posted in H1-2020 relative to H1-2019. Loan and Deposit book however grew by 4.5% and 25.1% from ₦1.502trillion and ₦2.640trillion recorded as at December 2019 to ₦1.569trillion and ₦3.303trillion in September 2020 respectively.

 

 

 

 

Guaranty Trust Bank’s Balance sheet remained well structured, diversified and resilient with Total assets and Shareholders’ Funds closing at ₦4.574trillion and ₦755.5billion respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 23.9%, while Asset quality was sustained as NPL ratio and Cost of Risk (COR) closed at 6.5% and 0.6% in September 2020 from 6.5% and 0.3% in December 2019 respectively.

 

 

 

 

 

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “Our 3rd Quarter result is a reflection of how we have appropriately positioned our balance sheet to cope with current economic realities and the challenging business environment. It is also testament to the enduring loyalty of our customers, the hard work and dedication of our staff and the unwavering support we continue to enjoy from all our stakeholders in our drive to deliver best-in-class financial services and superior and sustainable returns.”

 

 

 

 

He further stated that; “As an organization, we will continue to build on our commitment to enriching lives by leveraging our digital-first customer-centric strategy to improve customer experience and maintain a high standard in service delivery, and going beyond banking to create and drive innovative financial solutions that add value to our customers in all aspects of their lives.”

 

 

 

 

 

Overall, Guaranty Trust Bank plc continues to be best in the Nigerian banking industry in terms of all financial ratios i.e. Post-Tax Return on Equity (ROAE) of 26.3%, Post-Tax Return on Assets (ROAA) of 4.6%, and Cost to Income ratio of 40.2%.

 

 

 

 

Renowned for its forward-thinking approach to financial services and customer engagement, GTBank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa. The Bank was also awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.

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From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

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From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

13-Year-Old Boy Builds House for Parents with Earnings from Local Mines – A Tale of Grit and Determination!

In an astonishing feat of resilience and hard work, a 13-year-old boy from Akun Ejiba, Agidi Development Area, in Nasarawa Eggon LGA of Nasarawa State, has built a house for his parents using earnings from his labor in local mines.

The young boy, whose identity is yet to be disclosed, reportedly spent countless grueling hours working in the hazardous local mining fields, saving every possible naira to achieve this remarkable goal. His unwavering determination and deep sense of family loyalty have left the entire community in awe.

A Child’s Sacrifice, A Parent’s Pride

From Dust to Dreams: Young Miner Builds House for His Parents at Just 13!

Sources within the community confirm that the boy took on the backbreaking labor at an age when most children are in school or at play. Yet, instead of spending his earnings on personal desires, he selflessly dedicated them to constructing a home for his struggling parents—a feat many adults struggle to achieve in a lifetime.

His hard work, resilience, and selflessness have not gone unnoticed. Members of the community have hailed him as a symbol of dedication and sacrifice, calling for support to ensure he gets an education and a better future.

Mixed Reactions: Inspiration or a Reflection of Society’s Harsh Reality?

While the story has been celebrated as inspirational, it also raises concerns about child labor and the harsh economic realities forcing young children into dangerous jobs. Some argue that no child should have to endure such hardship to provide for their family.

Many are now urging the government, NGOs, and well-meaning individuals to intervene, ensuring that this young hero is given the opportunity to pursue his education and live the childhood he deserves.

What’s Next for the Young Builder?

As his story spreads, there are calls for support and scholarships to lift him from the mines and into the classroom. Will the government step in? Will generous benefactors come to his aid?

For now, this 13-year-old has etched his name in history as a child whose love for family defied the odds, proving that even the smallest hands can build the biggest dreams.

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Pedalling Through Time: The 75-Year-Old Ice Cream Vendor Who Refuses to Quit

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Pedalling Through Time: The 75-Year-Old Ice Cream Vendor Who Refuses to Quit

Pedalling Through Time: The 75-Year-Old Ice Cream Vendor Who Refuses to Quit

In the bustling heart of Lagos Island, where the streets never sleep, one man has quietly defied time, hardship, and the odds for over 57 years—armed with nothing but a bicycle, sheer determination, and an undying work ethic.

At 75 years old, Oladimeji Lawal, affectionately known as “Felele” or “Pandy Joe,” still pedals through the ever-chaotic roads of Lagos, selling ice cream to generations of schoolchildren and residents. While many of his peers have long retired, he continues to ride, not out of passion alone, but because he has no pension, no retirement plan, and no financial safety net.

From a Young Cycle Boy to a Lagos Island Legend

Born in Ibadan in 1950, Lawal’s life took an unexpected turn in 1968 when he was hired as a cycle boy for an ice cream business. His exceptional riding skills landed him the job, but it was a tragic accident in Ibadan that altered his course. Encouraged by customers, he moved to Lagos in 1969, hoping for better fortune.

The move paid off—for a time. Business was booming, and in the golden years of ice cream vending, he earned enough to rent an apartment in Maroko and even buy land—a crucial step toward securing his future.

But fate had other plans.

In 1990, his dreams crumbled overnight when the military government of Raji Rasaki demolished the entire Maroko community, rendering thousands homeless—including Lawal. His hard-earned land was gone, and with it, his hopes for a comfortable future.

A Lifetime of Pedalling, No End in Sight

As ice cream sales declined in the late 1980s, reality hit hard—Lawal had no retirement benefits, no savings, and no way out. By the time he realized this, he was already in his 50s, too late to start over. The bicycle became both his burden and his lifeline.

While some of his former customers became successful, he remained on the streets, witnessing the city evolve around him. Some of these prominent figures even bought him a new bicycle when his old one gave out, but Lawal never once resorted to begging.

“The only benefit we get from the company is a raincoat every ten years,” he lamented. “They used to repair our bicycles, but not anymore.”

Dreams of a Shop, A Hope for Rest

Now at 75, age has caught up with him. He takes more breaks, his body weary from decades of pedalling. But he still dreams—not of wealth, but of a small shop where he can store ice cream and soft drinks, so he doesn’t have to roam the streets all day.

“If I don’t ride my bicycle for a day, I feel weak. My body is already used to it.

A Man of Honor, A Life of Sacrifice

Despite the struggles, Lawal refuses to be a burden to his children, insisting they focus on their own lives. He has outlived his wife, lost everything he worked for, yet still wakes up every morning at 8 a.m., mounts his bicycle at 9 a.m., and pedals until sundown.

And while others chase riches, Lawal holds onto something far more profound: his name, his dignity, and his unbreakable spirit.

“At least, I am not begging for alms,” he says with quiet pride. “For that, I give thanks to God.

A Cry for Help or A Story of Resilience?

Pa Lawal’s story is as inspiring as it is heartbreaking. It is a testament to hard work, sacrifice, and the brutal reality of life without financial security. The question remains: Will society step in to help this Lagos icon finally rest, or will he pedal until the very end?

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Dr. Ifeoma Eze: The Connection That Transforms Lives

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Dr. Ifeoma Eze: The Connection That Transforms Lives

Dr. Ifeoma Eze: The Connection That Transforms Lives

Dr. Ifeoma Eze isn’t just a preacher; she is a voice that awakens purpose, a mentor who nurtures potential, and a guide leading people back to the true source of value—God. With warmth, wisdom, and an undeniable passion for transformation, she delivers a simple yet powerful message: your worth isn’t defined by what you have, but by who you are connected to.

Dr. Ifeoma Eze: The Connection That Transforms Lives

In her inspiring book, Becoming A Person of Exceptional Value, Dr. Eze drives home a truth that is often overlooked: no one can truly thrive in life without being plugged into the ultimate source—God. “We are not just physical beings trying to have a spiritual experience,” she says with conviction. “We are spiritual beings navigating a human journey.”

She takes readers back to the very beginning—Genesis 1:28—where God gave humanity a clear mandate: be fruitful, multiply, replenish the earth, subdue it, and have dominion. “This isn’t just about surviving,” she explains. “It’s about thriving, creating impact, and living a life that truly matters.”

But what happens when people try to go through life disconnected from their source? Dr. Ifeoma paints a vivid picture: “Imagine a strong, well-built water pipe. It looks good, but if it’s not connected to a water supply, it serves no purpose. That’s exactly what happens when we try to succeed without God—we may look promising, but we’ll never truly function as we were meant to.”

She also draws lessons from Jesus’ encounter with the barren fig tree. “Jesus wasn’t upset with the tree for simply existing,” she explains. “He was upset because it gave the appearance of having fruit but had nothing to show for it. And that’s how many people are today—outwardly successful but inwardly empty.”

Dr. Ifeoma Eze’s message is more than just words—it’s a heartfelt call to action. She speaks with the authority of someone who has walked this path, someone who has experienced firsthand what it means to be transformed by divine connection. Her sermons are not just lessons; they are life-changing encounters, filled with energy, encouragement, and practical wisdom.

Through Becoming A Person of Exceptional Value, she challenges people to reconnect with God, to recognize their true worth, and to step boldly into their calling. “You weren’t created to struggle in mediocrity,” she affirms. “You were made to shine, to build, to replenish, and to lead. But first, you must be connected to the One who gives all value.”

Dr. Ifeoma Eze isn’t just teaching people how to live; she’s showing them how to truly thrive. And in a world where so many are searching for meaning, her message couldn’t be more timely.

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