GUARANTY Trust Bank Plc, one of the largest financial institutions in Nigeria, has surpassed projections made by its management during its successful (US$750 million Deposit Receipts IGDR) Offer by declaring a pre-tax profit of N27.4 billion for the 2007/2008 financial year.
The bank?s financial statement, which were recently announced on the floor of the Nigerian Stock Exchange (NSE), showed a 62 per cent increase in earnings from N48.6 billion recorded last financial year to N78.8 billion.
Total assets and Contingents for the period stood at N1.06 trillion, a 78 per cent increase over the N603 billion recorded last year, while shareholders? funds grew by 227 per cent from N50 billion to N183.3 billion.
In line with its progressive dividend policy, the bank recommended the payment of a gross dividend of 95 kobo per share, comprising 70 kobo per share financial dividend and 25 kobo per share interim dividend which was paid out in December 2007.