Guaranty Trust Bank PLC. - nigerianische Bankaktie (Seite 39)

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"Shareholders Laud GTBank Performance, Ask for More

Kingsley Ighomwenghian - Daily Independent
Lagos - 25 May 2009

Shareholders of Guaranty Trust Bank Plc, at its annual general meeting last week in Lagos applauded its performance for the 10-month ended December 31, 2008.

This was in line with its change from previous February 28/29 accounting year.

National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu, said although the result was very good, the board and management should continue to strive for improvement, rather than being carried away with the present performance.

Another shareholder, Gbadebo Olatokunbo, praised the can-do spirit of the management and board of the bank, and urged them to do more.

He was particularly elated by the one new share for every four recommended by the board for approval at the meeting, in addition to the dividend of 100 kobo per share, all in less than one full year.

The choice of investments by the management, he added, is equally gladdening, just as he challenged the board to disclose the identity of those involved in the bank's related party transactions and the level of performance of such facilities.

Another shareholder however felt the directors could have done more than the 100 kobo dividend proposed, going by the huge reserves standing to the credit of the group.

The shareholders also agreed that the performance being celebrated by the group is because of the solid foundation laid by its founders, a situation that has now given the company a competitive edge, which should now be explored to expand further to bring its products and services closer to more people.

The group chief executive, Tayo Aderinokun, promised that the UK subsidiary would be expanded to serve Nigerians in Diaspora.

While thanking the shareholders for their commendations, he noted that the first quarter performance score card is a pointer to the fact that the tempo would be maintained and even improved upon in the coming months.

He promised that the achievements recorded by the bank in Nigeria would be replicated next in the Francophone West African region, after the successes achieved in the Anglophone region, include a new subsidiary in the previously war-torn Liberia, thereby making GTBank the first Nigerian bank to have presence every English speaking West African nation.

Afterwards, he said, the brand would be taken to other parts of Africa, followed by a plan to make it a global brand name.

The result showed that percentage growth in profit was better than that of earnings, indicating improvement management of the company's resources within the period under review.

The board has recommended a dividend of 100 kobo per share, in addition to a bonus of one new share for every five for approval at the annual general meeting. Only those, whose names are in the register of members as at May 6, qualify for the twin benefits, while dividend warrants are to be distributed from May 20, 2009.

Market reaction to the result was very positive, judging by the robust 4.99 per cent or 50 kobo growth in the share price, following its release during the trading session.

Gross earnings for the 10 months period stood at N104.12 billion, representing an increase of about N22.625 billion or 27.76 per cent, compared with the N81.495 billion reported in the 12-month period ended February 28, 2008. Profit before tax stood at N35.177 billion, up by N7.809 billion or 28.53 per cent from N27.368 billion, while profit attributable to shareholders grew by N7.146 billion or 33.75 per cent from N21.169 billion in 2008 to N28.315 billion, which translates to earnings per share of 187.4 kobo, out of which the board has offered to pay 53.47 per cent.

For the second consecutive year, Guaranty Trust Bank plc has been voted The Most Customer Focused Bank in Nigeria by KPMG (a global network of professional firms providing Audit, Tax and Advisory Services) in its 2009 Banking Industry Customer Satisfaction Survey.

Geared towards assessing and identifying Nigerian Banks with customer driven focus, the survey solicited the opinions of Retail and Corporate customers nationwide using key performance indicators including; financial stability, accessibility to delivery channels, image & reputation, access to credit, pricing of products and customer service delivery.

Based on customer feedback, Guaranty Trust Bank performed exceptionally to emerge the best bank in Retail Banking ahead of nine other banks.

The Bank was also adjudged second place in the Corporate/Commercial Banking segment.

Reacting, Deputy Managing Director, Mr. Segun Agbaje stated that the Bank regards the award as "a highly appreciated vote of confidence, as we see our customers as long-term partners that determine our stay in business and justify our continuous efforts to raise the quality and standard of service in the industry."

Prior to this award, Guaranty Trust Bank's tradition of excellent customer service has been widely endorsed by creditable rating agencies and organizations over the years.

Most recently, the Bank was adjudged The Most IT-Driven Bank 2008, The Most Customer friendly Bank 2008, The Best Bank in Corporate Governance 2008 and Best Bank in CSR 2008.

In 2007, the Bank was awarded the Most Respected Company in Nigeria by Price Waterhouse Coopers.

The bank is also credited with being the first Nigerian Company and first African bank to be listed on the London Stock Exchange and pioneered such innovative e-products as Telephone and Internet banking in 2002, Slip-free banking in 2006, GT Connect in 2006 as well as Drive-Through-Banking and GTBank on wheels in 2007.

Similarly, the Bank had earlier entered the history books as the first Nigerian institution since the early 1990s to venture into the international capital markets and raise funds in a Regulation S Eurobond issue with a $350 million Eurobond issue.

This ever growing list of achievements serve to bolster the bank's reputation as one of Nigeria's most profitable institutions and reinforces the AA- (double A minus) by Fitch; and BB- (double B minus) by Standard & Poor's, the best ratings assigned by the two international rating agencies to any Nigerian or West African-based bank."

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" GTB promises investors better returns in 2009

By Udeme Ekwere
Published: Monday, 25 May 2009

Guaranty Trust Bank Plc has promised investors bumber harvests for the financial year ended December 2009.

The bank, which recorded a 63 per cent increase in net profit for the 2008 financial year, paid investors a dividend of N1 per share and a bonus of one new share for every four shares held by shareholders in the company.

Speaking at a forum for business editors on Thursday, the Managing Director of the company, Mr. Tayo Aderinokun, said that the bank’s results for the first quarter ended April 2009, already showed that investors would have more profitability on their investments for the year under focus.

In its first quarter results, the bank recorded gross earnings of N36bn, representing an increase by 57 per cent over N23bn recorded in the similar period of 2008.

Profit after tax stood at N10bn, compared to N7bn the previous year, representing an increase by 43 per cent.

The basic and adjusted earnings per share also rose by 52 per cent, up from N1.68 in 2008 to N2.56k.

Aderinokun said, the company had a strong earnings growth of 57 per cent, with superior profit performance of 44 per cent in profit before tax.

He noted that with a profit after tax of N10bn recorded in the first quarter, the company was expecting at least N40bn profit for full year.

He also traced the improvement in capital market indicators to the financials recorded by the bank."

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"GTBank Rakes in N10 Billion in Q1

Daily Trust
Mohammed Shosanya - 22 May 2009

GTBank Plc's Managing Director Tayo Aderinokun said the bank has recorded N10billion Profit After Taxation for the first quarter of this year.

He said this yesterday at a Business Editors Forum in Lagos. This figure, according to him, represents 63 percent increase on the sum of N5, 801,492 billion recorded in the first quarter of last year.

He said the bank's Profit Before Taxation during the period under review stood at N13 billion.According to him, the bank's Gross Earnings grew from N23, 038,238billion to N35, 808,359billion in the year ended March 31, 2009. Aderinokun disclosed that the bank's financial leap during the period under review was attributed to its innovativeness, uncommon strength, service delivery and drive for expansion.

He said the bank would not rest on its oars to maintain the current financial trend for the remaining periods of the year.

The bank, which has 167 business locations and 1.34 million retail customers in the country, according to Aderinokun also hopes to use its foray into Francophone countries of West Africa to establish its prominent outside the shores of Nigeria."

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"RenCap Rates GTBank’s Performance High
By Goddy Egene, 05.21.2009

Renaissance Capital (RenCap) has rated the 2008 performance of Guaranty Trust Bank (GTBank) “as very strong” and projected a robust 2009 ahead.
Its also said that the shares of the bank are “a good buy.”
This rating came against just as the Managing Director/Chief Executive of GTBank, Mr. Tayo Aderinokun, disclosed yesterday that the bank intends become number one bank in Nigeria by 2012 in terms of profit before tax and return on equity.
RenCap said that the bank ‘s N29 billion net profit for the 10 months to December 31, 2008, was 21 per cent ahead of its forecasts for the period.
“This was despite loan loss provisions coming in 66 per cent higher than we had expected. With a December 2008 Compounded Annual Rate (CAR) of 22.6 per cent and an equity-to-asset ratio of 18.4 per cent, the group’s solvency position remained robust. We note that GTBank’s December 2008 non-performing loan (NPL) ratio was only 0.77 per cent,” RenCap said.
The company explained that the bank’s net interest income growth was strong, up 40 per cent since February 2008, on the back of strong gross loan growth (+45 per cent over the same period).
“Other income growth was exceptionally strong, up 63 per cent since February 2008, on the back of very strong foreign exchange earnings, which were up 65 per cent over the same period. Additionally, GTBank benefited from very strong premium income growth (+110 per cent over the past 10 months alone) from its insurance business,” RenCap said.
Meanwhile, speaking at the Business Editor Forum in Lagos, Aderinokun said investors should expect better results in the current financial year going by the first quarter performance.
He said that given the N10 billion profit after tax in first quarter of 2009, investors should be expecting a profit not less than N40 billion for the full year compared to the N28 billon in 2008.
Speaking on the plans to be the number one bank in 2012, he said the bank would achieve that by focusing on growth business, enhanced product/ service offering and cost leadership.
He said the bank would target emerging, under-banked Nigerian middle class, embark on strategy branch expansion and invest in alternative delivery channels among other strategies."

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"Shareholders Applaud GTBank Audited Result

Kingsley Ighomwenghian - Daily Independent
Lagos - 21 May 2009

Shareholders of Guaranty Trust Bank Plc, at its annual general meeting on Wednesday in Lagos applauded its performance for the 10-month ended December 31, 2008.

This was in line with its change from previous February 28/29 accounting year.

National Coordinator, Independent Shareholders Association of Nigeria (ISAN), Sunny Nwosu, said although the result is very good, the board and management should continue to strive for improvement, rather than being carried away with the present performance.

Another shareholder, Gbadebo Olatokunbo, praised the can-do spirit of the management and board of the bank, and urged them to do more.

He was particularly elated by the one new share for every four recommended by the board for approval at the meeting, in addition to the dividend of 100 kobo per share, all in less than one full year.

The choice of investments by the management, he added, is equally gladdening, just as he challenged the board to disclose the identity of those involved in the bank's related party transactions and the level of performance of such facilities.

Another shareholder however felt the directors could have done more than the 100 kobo dividend proposed, going by the huge reserves standing to the credit of the group.

The shareholders also agreed that the performance being celebrated by the group is because of the solid foundation laid by its founders, a situation that has now given the company a competitive edge, which should now be explored to expand further to bring its products and services closer to more people.

The group chief executive, Tayo Aderinokun, promised that the UK subsidiary would be expanded to serve Nigerians in Diaspora.

While thanking the shareholders for their commendations, he noted that the first quarter performance score card is a pointer to the fact that the tempo would be maintained and even improved upon in the coming months.

He promised that the achievements recorded by the bank in Nigeria would be replicated next in the Francophone West African region, after the successes achieved in the Anglophone region, include a new subsidiary in the previously war-torn Liberia, thereby making GTBank the first Nigerian bank to have presence every English speaking West African nation.

Afterwards, he said, the brand would be taken to other parts of Africa, followed by a plan to make it a global brand name.

The result showed that percentage growth in profit was better than that of earnings, indicating improvement management of the company's resources within the period under review.

The board has recommended a dividend of 100 kobo per share, in addition to a bonus of one new share for every five for approval at the annual general meeting. Only those, whose names are in the register of members as at May 6, qualify for the twin benefits, while dividend warrants are to be distributed from May 20, 2009.

Market reaction to the result was very positive, judging by the robust 4.99 per cent or 50 kobo growth in the share price, following its release during the trading session.

Gross earnings for the 10 months period stood at N104.12 billion, representing an increase of about N22.625 billion or 27.76 per cent, compared with the N81.495 billion reported in the 12-month period ended February 28, 2008. Profit before tax stood at N35.177 billion, up by N7.809 billion or 28.53 per cent from N27.368 billion, while profit attributable to shareholders grew by N7.146 billion or 33.75 per cent from N21.169 billion in 2008 to N28.315 billion, which translates to earnings per share of 187.4 kobo, out of which the board has offered to pay 53.47 per cent."

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Q1 Results :

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNew…

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Die letzten Tage häuft sich wieder die Berichterstattung über Investments in Afrika. Hoffentlich wird diese Thematik weiter aufgeriffen, denn den Umsätzen in Deutschland würde es sicherlich gut tun.


"Nigeria: GTB, Skye Bank Post Good Quarterly Results

Vanguard - Omoh Gabriel

12 May 2009

TWO of the nation's banks, GTBank and Skye Bank yesterday posted impressive quarterly results, giving a boost to the nation's financial market.

This is coming on a day the African Development Bank announced it will, this week, vote on Nigeria's request to withdraw $200 million of its contributions to the Bank as plunging oil prices undermine the country's economy.

Guaranty Trust Bank Plc in its first quarter result released yesterday posted net profit increase of 63 percent to N9.47 billion ($65 million).

Gross earnings rose 55 percent to N35.81 billion compared to the same period last year, the bank said in its latest financial report to the Nigerian Stock Exchange.

Also, Skye Bank Plc saw net profit jump 43 percent to N9.61 billion ($66 million) in its second quarter to March 31, the Nigerian Stock Exchange said yesterday.

Gross earnings leapt 87 percent to N51.66 billion, the bank told the Nigerian bourse in its latest report.

Skye's fixed assets grew to N24.43 billion from N15.59 billion a year ago, while cash and bank balances rose to N62.68 billion from N39.34 billion.

The bank more than doubled its net assets to N86.90 billion from N26.55 billion in the same period of the previous year.

The board of governors of the Tunis-based AfDB will vote on the request during its annual meeting this week, the bank said in a statement released in Dakar, Senegal yesterday.

The Federal Government wants to withdraw $200m from the $330 million Nigeria Trust Fund, which was established in 1976 to help development projects on the continent. Africa's biggest oil producer is struggling to fund spending on power plants and roads as the global economic crisis slashes government's revenue from oil.

"It's a decision for the board of governors to make and I can't say whether it will be approved," Pierre van Peteghem, treasurer of the African Development Bank, or AfDB, said in an interview in Dakar.

"The fund was going to be terminated three years ago, but it was not because Nigeria restated its commitment to development on the continent."

Nigeria established the 30-year fund during the 1970s oil boom as a way to increase its influence in the AfDB. When the fund expired in 2006, Nigeria agreed to extend it for a further two years. At last year's AfDB meeting in Maputo, Mozambique, Nigeria agreed to let the fund run for another 10 years.

However, the withdrawal of the money is not expected to affect AfDB's funding of projects since most of the bank's finances are drawn from member countries, donors and borrowing, van Peteghem said.

Nigeria's revenue from crude oil declined to $1 billion in January from a monthly average of $2.2 billion in 2008, Remi Babalola, the country's minister of state for finance, said last week. Oil makes up 80 percent of government revenue and 95 percent of foreign exchange earnings.

The price of crude oil has dropped 58 percent in New York since the beginning of July 2008. Nigeria's foreign currency reserves declined to $45 billion in April from about $53 billion in January.

The AfDB expects Nigeria's economy to expand 4 percent this year, down from an estimated 6.1 percent in 2008. Standard & Poor's on March 27 cut the outlook on Nigeria's BB- credit rating to "negative" from "stable"."




"Gambia: GTBank Registers Growth

The Daily Observer - Yunus Saliu

Banjul - 11 May 2009

In spite of the year 2008 being characterised by the global financial and economic crises, the Guaranty Trust Bank ( Gambia ) Limited continues to record a fantastic growth.

The bank has recorded over 40 per cent growth in balance sheet while its profit before tax grew by 21 per cent over the 2007 figures. This was revealed in a press briefing held at the bank's head office situated in Kairaba Avenue on Monday by Lekan Sanusi, managing director of GTBank.

The bank's financial results for the year 2008 showed an upward growth in the balance sheet from D1.7billion in 2007 to D2.4billion in 2008, representing a growth of 40 per cent. It was noted that the bank also continued to avail quality credits to its customers as its loan book which was D395 million in 2007 grew to D421 million in 2008. This clearly indicated that the bank's customer base increased while money made available to the business sector of the Gambia economy also increased.

According to the Gtbank boss, in terms of profitability, the bank's gross earning has grown by 41 per cent from D194million in 2007 to D274million as at December 2008 while profit before tax (PBT) which was D58 million in 2007 closed at D70 million in 2008 respectively.

In terms of efficient utilisation of resources and providing good returns to its shareholders, GTBank has achieved a return on asset (ROA) of 4.7 per cent in 2007 and a return on equity (ROE) of 22 per cent (37 per cent) in 2007. However, its ROE dropped due to the increase in equity during year 2008 by issuance of additional 40 million shares at 1.88 per share.

Within 7 years of their operation in the Gambia , the bank has opened 11 operational branches with its head office at Kairaba Avenue. Lekan Sanusi commended his hardworking and dedicated staff and shareholders on the bank achievements. He noted that "with a total balance sheet (BS) of D2.4 billion, we are happy to be one of the three 'big' banks in the country today"."

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Heute gibt es Dividende.

2008 IFRS Results:
http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNew…

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"GTBank introduces 3rd party transfer option on GTConnect

Date: Wed, 29th April, 2009 7:35pm

April 2009: In line with its tradition of innovation, Guaranty Trust Bank plc (GTBank) recently introduced the 3rd party transfer option on its contact center, GTConnect.

GTConnect, the first fully interactive, self service contact center of its kind by any financial services institution in the West African sub region, was launched as a total banking solution, capable of providing customers and prospective clients with instant service via the telephone.

Like the internet banking and website facilities, it is accessible from anywhere in the world and open for business 24 hours a day, seven days a week, and even on public holidays.

The newly introduced Third party transfer option allows all customers make transfers between their accounts and other Guaranty Trust bank accounts with the use of a transaction security device called a Token which guarantees enhanced account security, whilst enabling customers perform virtually all their banking transactions from the comfort of their homes, offices or any other location worldwide via the telephone.

Transactions that can be carried out on the GTConnect platform include balance inquiries, profile maintenance and update, Master Card account information, Funds Transfer, Cheque book request, stop cheque request, information on ATM and branch locations, information on products and services, information on subsidiaries, request for GT Bank electronic cards, dormant account reactivation, and getting up-to-date information on every aspect of the bank’s operations; and now 3rd party transfers.

Mr. Dare Adeyeri, Group Head Technology for GTBank stated 'This new facility which is set to change the way Nigerian Banks operate and serve customers, demonstrates the Bank’s commitment to simplify and enrich the customer’s lifestyle through innovation.

Guaranty Trust Bank plc has been at the forefront of providing its customers specialized electronic banking products and services. These include the GTBank MasterCard which allows online payments in partnership with the MasterCard International, The CashPlus Debit Card used with the Automated Teller Machines (ATMS) to make cash withdrawals and purchases on Point-of-sale terminals and the GTBank Drive-thru ATM for those who are constantly on the go and want to withdraw cash without leaving their cars."

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Antwort auf Beitrag Nr.: 36.988.990 von soulmate81 am 17.04.09 14:38:34

Ah ok, danke! Schade, dass sie so wenig hinter ihren Empfehlungen stehen.

Zahlen sind da:

GTBANK PLC AUDITED FINANCIAL STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 2008

31-12-08 29-02-08
GROSS EARNINGS N104.120b N81.495b
PROFIT BEFORE TAXATION N35.177b N27.368b
TAXATION (N6.861b) (N6.198b)
PROFIT AFTER TAXATION N28.315b N21.169b
RETAINED EARNINGS N17.321b N9.237b
BALANCE SHEET INFORMATION
FIXED ASSETS N39.629b N33.969b
CASH AND BANK BALANCES N282.342b N119.206b
OTHER DEBIT BALANCES N640.750b N582.517b
OTHER CREDIT BALANCES N780.688b N572.348b
WORKING CAPITAL N204.946b N185.350b
NET ASSETS N182.033b N163.343b
PROPOSED DIVIDEND N1.00K PROPOSED BONUS ISSUE 1 FOR 4

AGM MAY 20TH 2009 CLOSURE OF REGISTER MAY 6, 2009 PAYMENT
DATE MAY 20 2009 AGM THE 19TH AGM WILL HOLD AT THE SHELL
HALL MUSON CENTRE ON WED, 20TH MAY 2009 AT MARINA LAGOS

Und das ohne "Bilanzfälschung"!