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GTCO Plc Releases 2023 Half Year Audited Results …….. Reports Profit Before Tax of ₦327.4billion

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GTCO Plc Releases 2023 Half Year Audited Results …….. Reports Profit Before Tax of ₦327.4billion

GTCO Plc Releases 2023 Half Year Audited Results …….. Reports Profit Before Tax of ₦327.4billion

 

Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2023, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

 

 

 

GTCO Plc Releases 2023 Half Year Audited Results …….. Reports Profit Before Tax of ₦327.4billion

The Group reported profit before tax of ₦327.4billion, representing an increase of 217.1% over ₦103.2billion recorded in the corresponding period ended June 2022. The Group’s loan book (net) increased by 22.8% from ₦1.89trillion recorded as at December 2022 to ₦2.32trillion in June 2023, while deposit liabilities grew by 37.0% from ₦4.61trillion in December 2022 to ₦6.32trillion in June 2023.

 

 

 

 

The Group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at ₦8.5trillion and ₦1.2 trillion, respectively. Full Impact Capital Adequacy Ratio (CAR) remained very strong, closing at 24.7%, while asset quality was sustained as IFRS 9 Stage 3 Loans improved to 4.6% in June 2023 from 5.2% December 2022, however, Cost of Risk (COR) closed at 3.7% from 0.6% in December 2022 owing to worsening macros which caused significant increase in ECL variables.

 

 

 

 

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said; “Our half year audited results reflect the strong business fundamentals underpinning the GTCO franchise, the quality of our past decisions in future proofing our balance sheet for challenging times, and the sound practices that guide our day-to-day operations. Despite the challenges in the business environment, notably inflationary pressures and exchange rate fluctuations, we are starting to see the gains in the transformation of our businesses following our transition to a Holding Company structure. Improved profitability and a solid performance across key metrics reflect efficiencies and justify the investments we continue to make in technology, product development, and our people.”

 

 

 

He further said; “We recognise the impact prevailing economic and market conditions have on people and livelihoods and we remain committed to seeking better outcomes for our customers by ensuring that our products and service offerings support our customers and their businesses through their evolving realities, whilst also taking every opportunity to optimise stakeholder value.”

 

 

 

 

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 61.4%, Pre-Tax Return on Assets (ROAA) of 8.8%, Full Impact Capital Adequacy Ratio (CAR) of 24.7% and Cost to Income ratio of 27.7%.

 

 

 

GTCO is a leading financial services group with banking operations in Nigeria, West Africa, East Africa, United Kingdom alongside new businesses in Payment, Funds Management and Pension Fund Administration. Its leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. Recently, Guaranty Trust Bank was recognized as Nigeria’s Best Bank and Best Bank in CSR at the 2023 Euromoney Awards for Excellence, Best Banking Group in Nigeria by World Finance, and Best Bank in Nigeria by Global Finance. GTCO’s Guaranty Trust Bank is featured in the Top 1000 Banks in the World and Top 100 Banks in Africa rankings by The Banker.

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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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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