GTCO Generates a N214 billion Profit.

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According to Guaranty Trust Holding Company Plc, it reported a profit before tax of N214.2 billion, a 3.3% decrease from the N221.5 billion achieved in the comparable year ended December 2021.

This, according to the report, was caused by an impairment of N35.6 billion that was discovered in Ghanaian government debt. The Group’s net loan book climbed by 4.6% from N1.80 trillion in December 2021 to N1.89 trillion in December 2022, while deposit liabilities increased by 11.6% from N4.13 trillion to N4.61 trillion over the same time frame.

The Group’s balance sheet, which closed at N6.45 trillion in total assets and N931.1 billion in shareholders’ funds, was well-structured and resilient, the statement claims. “Capital Adequacy Ratio remained very strong, closing at 24.1%,” the report said. Similar to that, asset quality remained stable.

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