NGX Suspends Trading on GTB Shares ahead of Holdco listing.

The Nigerian Exchange Group Limited (NGX) has suspended trading in the shares of GT Bank Plc, ahead of its listing as a holding company.

This was disclosed by the head of listings and regulation department of the NGX, Godstime Iwenekhai, through a bulletin issued on Friday.

Commenting on the recent development, Iwenekhai said: “Trading License Holders and the investing public are hereby notified that trading in the shares of Guaranty Trust Bank Plc (the Bank) was suspended today, Friday, 18 June 2021.

“The suspension is necessary to prevent trading in the shares of the Bank in preparation for the eventual delisting of Guaranty Trust Bank Plc from the Daily Official List of the Nigerian Exchange Limited (NGX) and listing of the Holding Company, Guaranty Trust Holding Company Plc on NGX.”

Recall that GTBank had earlier obtained a regulatory approval-in-principle (AIP) to restructure into a financial holding company (Holdco), following shareholders and investors approval. In line with the development, investors approved the transfer of 29,431,179,224 ordinary shares of 50 kobo each in the issued and paid-up share capital of the bank held by them to Guaranty Trust Holding Company Plc.

What you should know:

  • Given the recent development, GT Bank will join the growing list of financial holding companies in Nigeria, such as: FBN Holdings Plc, FCMB Group Plc , Stanbic IBTC Holdings Plc and Access Bank Plc (still in process)
  • With its new status as a holding company, the bank will be able to diversify into other allied businesses like asset management, insurance, payment service and even pension management.


GT Bank Plc holds FY 2020 investors presentation.

Guaranty Trust Bank Plc held its FY 2020 results presentation to investors and analysts. Below are the facts to the figures;

  • The bank recorded a customer base of over 21.9 million as at the end of FY 2020.
  • A total of 24,115 active POS terminals, 1,366 ATMs, 575 million unique transactions, and 5.43 million active cards were recorded during the period under review.
  • Operating expenses totalled N131 billion (+12.6% YoY). The increase was largely driven by surge in regulatory charges, administrative charges and depreciation expenses, among others.
  • A breakdown of its gross loans by industry showed that Upstream Oil and Gas, Manufacturing and Midstream oil and gas emerged in the top three with an allocation of 29%, 19% and 14% respectively. On the other hand, Education, Agriculture and Downstream Oil and Gas appeared in the bottom three with an allocation of 1% to the aforementioned sectors.
  • The bank maintained a strong liquidity position with a ratio of 38.9% as at FY 2020. A figure well above the regulatory minimum of 30%.
  • Cost to Income ratio of 36.11% Vs 38.2% YoY.
  • In terms of diversity, out of its 6,637 employees, 54.6% are male while 45.4% are female.

For more information about the investors’ presentation, click HERE.

Guaranty Trust Bank Plc: Notice of Board Meeting

Guaranty Trust Bank Plc has announced that it will be hosting a Board meeting on the 21st of April, 2021.

This is according to a notification signed by the Bank’s secretary, Erhi Obebeduo and sent to the Nigerian Stock Exchange today.

According to the notice, the meeting will enable the Board Directors to consider the unaudited financial statement of the Bank. Decisions reached at the meeting will be subsequently communicated.

Here is a link to the notice.

2020 FY Results: GT Bank posts N201 billion profit after tax.

GT Bank Plc released its full-year results for the year ended 31 December 2020.

  • Net interest income after adjusting for loan impairments was N234.1 billion. (+3.4% YoY)
  • Net fee and commission income was N46.94 billion. (-21.04% YoY)
  • Personnel expenses incurred was N37.61 billion. (+0.9% YoY)
  • Profit before tax was N238.1 billion. (+2.8% YoY)
  • Profit after tax was N201.44 billion. (+2.3% YoY)
  • Earnings per share was N7.11. (+2.16% YoY)
  • Customers’ deposits totaled N3.51 trillion. (+38.6% YoY)
  • A final dividend of N2.70 was announced.

See link to results