Guaranty Trust Bank PLC. - nigerianische Bankaktie (Seite 36)

[Scatlover]

"GTBank Listed Amongst 200 Best-Performing UK Stocks

Guaranty Trust Bank plc, one of Africa's largest banks has been listed amongst the 200 best performing stocks on the London Stock Exchange for the year 2009 based on the annual performance of its stocks.


This is a reflection of investors' confidence in GTBank's stability and reputation of being a well established franchise with strong asset quality and consistent excellent financial performance and comes despite unprecedented reforms witnessed in the Nigerian Banking Industry and the global financial crises worldwide. It also further reaffirms the bank's increasing relevance in the national, regional and global economy.


In July 2007, Guaranty Trust Bank entered the African Business landscape history books by becoming the first African Bank and Nigerian Company to be listed on the London Stock Exchange through the landmark listing of its successful $750 million Global Depositary Receipts (GDR) Offer.


Guaranty Trust Bank plc, established in 1990, currently has significant footprints in all countries of Anglophone West Africa (Nigeria, Gambia, Ghana, Sierra Leone, Liberia) and the United Kingdom and is soon set to open in Ivory Coast.



Top 200 Best Performing UK Stocks
Ranking Company (Ticker) Year-to-Date Performance
1. Downing Protected VCT VII Plc (LON: DP7A) 4930.0%
2. Norseman Gold Plc. (LON:NGL) 2985.7%
3. Clerkenwell Ventures PLC (LON:CLCRK) 1605.2%
4. XCITE ENERGY LIMITED (LON:XEL) 1521.4%
5. Vimetco N.V. (LON:VICO) 1370.6%
. ... ...
. ... ...
. ... ...
180. Guaranty Trust Bank Plc (LON:GRTB) 115.5%
. ... ...
. ... ..."

http://www.gtbank.com/media-centre/gtbank-in-the-news/412-gt…

[Scatlover]

"GTBank is preferred pick in banking sector

BUSINESSDAY - Thursday, 07 January 2010

Bank of America (BofA) Merrill Lynch Global Research places BUY recommendation on GTBank stock, having the best operating efficiency. Nigerian banks underperformed the rest of EMEA YTD and with asset quality problems persisting; we expect this to continue into 2010.

However, one bank stands out as the out-performer, GTBank. We see GTBank as the best in class bank within Nigeria that provides exposure to upside surprises to the oil and macro economic story. It has the best operating efficiency, the lowest 2010E NPL ratio, and a strong capital base adequate to absorb the anticipated provisions. Despite the out performance YTD, it is still trading at only 6.3x 2011E PE, showing significant discount to peers at 9.4x - 30x PEs. We are now raising it to a Buy with a PO of NGN18, offering 17percent upside potential. In our opinion, GTBank is the best play for the long-term potential of this under penetrated banking sector in Nigeria.

Upgrading GTBank to a BUY BofA Merrill Lynch Global Research has a constructive view on the global and regional recovery for 2010 as highlighted by our economic team’s Emerging EMEA year ahead. “With this in mind, it would not seem unreasonable to us to go into 2010 with a Buy recommendation on a Nigerian bank, despite broader/underlying sector problems.

“We upgrade GTBank to a BUY and see it as a longer term beneficiary of improving fundamentals in a consolidated sector. Our PO at NGN18 offers 17percent upside potential.

The bank has outperformed its peers in 2009 and we would expect this to continue. In our opinion, management’s focus on cost efficiency, asset quality and profitability should over time translate into shareholder value. “We have incorporated harsh NPL and provisioning assumptions into our base-case forecasts but still see the bank delivering 11 percent ROEs in 2010E and + 20 percent in 2011E.”

“Below, we summarise our key points on the stock: On a 2010E and 2011E P/E ratio, the bank is the cheapest bank in the Nigerian coverage universe. It also screens favourably on a 2010E ROE/PBV basis. • Fundamentally, we view GTBank as the strongest bank, with strong pre-provision profitability – thanks to best in-class operating efficiency – which gives the bank ability to absorb sizeable provisioning charges and we view our 2010E/2011E forecasts as conservative. • We also see capital adequacy as strong (CAR+20%) and positively, as the bank is on target to meet its 2009E guidance of NGN20 billion in after tax earnings. • Plotted against other emerging market banks, Nigerian banks do not appear overly cheap but we emphasise that the longer term potential in the sector is unquestionable. If profitability surprises on the upside as a result of a stronger than expected economic outcome/better than expected asset quality then we see risks to the upside. • We view GTBank as the best placed bank to benefit from positive surprises in the underlying sector and broader macro economic/oil story."

http://www.businessdayonline.com/index.php?option=com_conten…

[Scatlover]

"Nigeria's GT Bank completes $90 mln bond issue

By Nick Tattersall

LAGOS, Dec 29 (Reuters) - Nigeria's Guaranty Trust Bank said on Tuesday it had completed a 13.165 billion naira ($90 million) bond placement, the country's first corporate issue in years, and that strong demand meant it would tap the market again soon.

The bank (GUARANT.LG) said the 5-year bonds, the first tranche of a two-year 200 billion naira debt issuance programme, were issued at par with a 13.5 percent annual coupon and were placed with institutional investors through a book building.

"Whilst there was strong demand during the book building exercise, the bank made a conscious decision ... to use a relatively moderate size transaction to discover the depth and potential of the Nigerian corporate bond market," GT Bank Chief Executive Tayo Aderinokun said in a statement.

He said the bank had used the first tranche "to arrive at a reasonable pricing benchmark" for future issues during the rest of the two-year programme.

GT Bank, which successfully issued $350 million of 5-year Eurobonds in January 2007, said it planned to raise debt from time to time over the next two years to enhance its funding and lending capabilities.

The bank is one of several to have recently announced plans to raise debt as Nigerian pension funds and asset managers become more comfortable with fixed income and less reliant on equities in their portfolios.

Government bonds currently account for around 95 percent of Nigeria's total debt market, according to the debt management office, but that is expected to change in the coming years as ever more companies issue debt to finance growth.

Companies in sub-Saharan Africa's second-biggest economy have long been reluctant to raise debt because of the high issuance cost and multiple taxes but the central bank has announced planned incentives to boost the development of the corporate bond market.

Foreign investors account for just 5 percent of Nigeria's total debt market, down from 23 percent last year, after the global credit crisis forced many to pull out funds, partly to plug holes elsewhere in their balance sheets..."

[Scatlover]

"Tayo Aderinokun Named 'Man of The Year' By Sun Newspapers

Tayo Aderinokun, Guaranty Trust Bank’s Managing Director, has been named the 2009 ‘Man of the Year’ alongside the Governor of Lagos State, Babatunde Raji Fashola by The Sun Newspapers – one of Nigeria’s foremost news publishing outfits.

This would be the first time that an individual from the private sector would receive the award which had hitherto been reserved for sterling individuals in the public sector.

In giving the award, the Sun Newspaper Board of Directors praised Tayo Aderinokun saying, “...just as Governor Babatunde Fashola epitomized the best of corporate governance in the public sector, GTBank’s Aderinokun points the way forward to the best possibilities from the private sector. Aderinokun has in a short while, transformed Guaranty Trust Bank into a Proudly African, Truly International Bank”. It should be noted that the joint winner Governor Fashola is seen as a beacon of Good Governance in Nigeria with the unprecedented strides he has been making in steering the government of Lagos State.

Tayo Aderinokun co-founded Guaranty Trust Bank at the age of 35 in 1990. In 2002, he took over from Fola Adeola as Managing Director and has since led the Bank to greater achievements. Since then, Mr. Aderinokun has steered the Bank to receive numerous awards on the Bank’s excellent financial performances year on year, good corporate governance structure, innovation, originality of Products and Services and, committment to customer service and satisfaction.

Earlier this year, Tayo Aderinokun was named the 2009 African Banker of the Year at the African Bankers Awards and also the CEO of the Year at the ThisDay Awards for Excellence."

http://www.sunnewsonline.com/webpages/features/newsonthehour…

[Scatlover]

Antwort auf Beitrag Nr.: 38.605.624 von Scatlover am 20.12.09 18:49:38

"It’s looking good for GTBank

For the fifth consecutive year, Guaranty Trust Bank Plc has maintained its AA- (nga) rating by the global rating agency, Fitch Ratings.

The agency, last week, said its rating, coming at a time of unprecedented reforms witnessed in the Nigerian banking industry, further reaffirmed the bank’s increasing relevance in the national, regional and global economy.

It is also a reflection of the bank’s stability and reputation as a well established franchise, with strong asset quality and consistent excellent financial performance.

Highly rated

According to a statement by GTBank, the rating agency however noted that the bank’s loan book remains concentrated in its exposure to the general commerce, manufacturing and construction sectors.

“Guaranty Trust Bank reported Non-Performing Loans and coverage ratios of 3.7% (FYE08: 1.8%) and 1.44x (FYE08: 1.19x) at Quarter 3, 2009 respectively. Loan growth was rapid during FYE08 with gross loans up an annualised 54.5%, with certain sectors at higher levels of growth. The bank’s loan book remains concentrated in its exposure to the general commerce, manufacturing and construction sectors,” the statement said.

“However, despite the significantly higher impairment charges incurred by the Bank in the third Quarter of the year, (Q309), Fitch considered GTBank’s asset quality indicators and coverage ratios to be acceptable and in line with other highly rated domestic peers,”

The agency however considered that GTBank’s strong franchise should underpin a core level of earnings momentum.

Speaking on the new ratings, Tayo Aderinokun, managing director of the bank, said the rating only goes to show the bank’s consistency over the years; as well as its commitment to its core principles of ensuring good corporate governance and efficiency across its business operations.
Slowing economic activity

Also in its published report, Fitch noted concerns on the slowing of the overall levels of economic activity in Nigeria.

Bismarck Rewane, the managing director of Financial Derivatives Company, a finance firm, explained that the nation’s economic performance in the outgoing year was restricted with various constraints.

“Constraints to growth are mounting,” he said. “The production problems in the Delta, unavailability of credit due to extreme risk aversion, lower power supply and shrinking government revenue. The 2009 slowdown is being exacerbated by the complete freeze on credit. The banks have all but put lending on hold, thereby crippling most businesses. In the August 2009 CBN report, aggregate credit to the private sector grew by 7.3 % to N9.68 trillion. In 2008, credit to the private sector grew by 50.38 %,” he said.

Nigerian banks, like other banks in countries around the world, have faced a very challenging operating environment this year.

In addition, all the banks had to go through the Central Bank’s special audit, a process through which 10 were diagnosed with different infractions. The banks have also recently announced financial results for the third quarter 2009, in line with clearly defined and transparent reporting requirements by the regulatory body.

According to Mohammed Abdullahi, head of the corporate affairs department of the Central Bank in a recent communiqué, the third quarter earnings announcement of the banks are as expected.

“The third quarter earnings announcements for a number of banks have included a level of provisions that have led to reported losses, reflecting the true position of the lending portfolios, however, the Central Bank is confident that the worst is now behind us,” he said."

http://www.proshareng.com/news/singleNews.php?id=8333

[Scatlover]

"Fitch Affirms Nigeria's Guaranty Trust Bank IDR 'B+’; National Rating AA-(nga) for 5th Consecutive Year

For the fifth consecutive year, Guaranty Trust Bank plc has maintained its AA- (nga) rating by the global rating agency, Fitch.

Coming on the heels of unprecedented reforms witnessed in the Nigerian Banking Industry, the rating further reaffirms the bank's increasing relevance in the national, regional and global economy. It is also a reflection of the Bank's stability and reputation of being a well established franchise with strong asset quality and consistent excellent financial performance.

In its published report, Fitch recognized that overall levels of economic activity in Nigeria have slowed; the agency however considered that GTBank's strong franchise should underpin a core level of earnings momentum.

Despite the significantly higher impairment charges incurred by the Bank in Q309, Fitch considered GTBank's asset quality indicators and coverage ratios to be acceptable and in line with other highly rated domestic peers. Guaranty Trust Bank reported Non-Performing Loans and coverage ratios of 3.7% (FYE08: 1.8%) and 1.44x (FYE08: 1.19x) at Quarter 3, 2009 respectively. Loan growth was rapid during FYE08 with gross loans up an annualized 54.5%, with certain sectors at higher levels of growth. The bank's loan book remains concentrated in its exposure to the general commerce, manufacturing and construction sectors.

Speaking on the new ratings, Tayo Aderinokun, Managing Director of Guaranty Trust Bank stated that the rating only goes to show the Bank’s consistency over the years and commitment to its core principles of ensuring good corporate governance and efficiency across all its business operations.

Guaranty Trust Bank, which was the first Nigerian Financial Institution to be assigned an International Rating, has its operations in all countries of Anglophone West Africa (Nigeria, Gambia, Ghana, Liberia, and Sierra Leone) and the United Kingdom. The Bank has is also poised to make inroads into Francophone West Africa with its Ivorian and Cameroonian franchises soon to open."

http://www.gtbank.com/media-centre/gtbank-in-the-news/408-fi…

[Scatlover]

Das Kundenmagazin NDANI ist jetzt auch online verfügbar.

http://ndani.gtbank.com/

[Scatlover]

Nigeria war grade Thema in der 3sat Börse.
Über Banken wurde auch gesprochen, aber natürlich nicht, die in Deutschland gehandelte, Guaranty Trust Bank erwähnt!

[Scatlover]

"GTBank Q3 pretax profit falls 22 pct

businessday - Friday, 16 October 2009

Guaranty Trust Bank said pretax profit in its third-quarter to Sept. 30 fell 22 percent year-on-year to 20.38 billion naira ($137.9 million).

Gross earnings at the bank, however, rose 72 percent to 114.50 billion naira from 66.53 billion in the same period the previous year, GT Bank said in a filing to the Nigerian Stock Exchange on Friday.

The bank said it made loan-loss provisions of 24.96 billion naira for the period under review.

Chief Executive Tayo Aderinokun had told an Africa capital markets conference in London in September that GT Bank expected its full-year pretax profit for 2009 to be close to 30 billion naira, below its initial target.

Aderinokun told Reuters at the time the bank did not expect to make any more loan-loss provisions this year after its profit in the half-year ended June 30 was hit by provisions of 20.79 billion naira, bringing pretax profit down 30 percent year-on-year to 8.32 billion naira.

GT Bank was one of 14 banks given the all clear earlier this year by Nigeria's central bank, which between Aug. 14 and Oct. 2 sacked the top management of eight lenders after an audit of the country's 24 banks showed 10 of them were undercapitalised and posed a systemic risk.

The regulator said it would inject a total of $3.9 billion in nine of the 10 banks facing liquidity problems, bringing the total amount of non-performing loans at the lenders to more than 1.5 trillion naira, of which only 135.6 billion naira has been recovered."

[Scatlover]

Antwort auf Beitrag Nr.: 38.168.694 von LongIsland am 13.10.09 17:37:02

GUARANTY TRUST BANK PLC INTERIM REPORT FOR THE PERIOD ENDED 30TH SEPTEMBER 2009 THIRD QUARTER

2009 2008
GROSS EARNINGS N114.503b N66.532b
PROFIT BEFORE TAX N20.389b N26.075b
TAXATION (N2.207b) (N8.344b)
PROFIT AFTER TAXATION N18.181b N17.731b
RETAINED EARNINGS N18.181b N17.731b
BALANCE SHEET INFORMATION 30-09-09 31-12-08
FIXED ASSETS N40.398b N36.030b
STOCK N99.940b N127.549b
CASH AND BANK BALANCES N243.299b N252.003b
OTHER DEBIT BALANCES N631.846b N506.233b
OTHER CREDIT BALANCES N832.675b N742.266b
WORKING CAPITAL (N281.128b) (N67.265b)
NET ASSETS N182.809b N179.550b

NOTE: A TOTAL OF N24.966b PROVISION WAS REPORTED AS LOAN LOSS EXPENSE FOR THE PERIOD UNDER REVIEW