Shareholders Applaud GTB 2013 Performance

Posted by African Examiner Business News, Latest Headlines Wednesday, April 16th, 2014

Kayode Adelowokan

It was a day of applause and praises from shareholders of Guaranty Trust Bank plc on Monday as it held the 24th Annual General Meeting with dividend payout of N1.70 per share, an increase of 10% over N1.55 paid in2012 and share price appreciation of 17% in 2013’.

Its gross earnings at N242.67 billion, Profit before Tax of N107.09billion and Profit after Tax of N107.09billion.

Leading the army of praise singers at the meeting which was help at the Muson centre, Lagos was the national President of Independent Shareholders’ Association, Sir Sunny Nwosu, who lauded the performance of the bank under review.

Nwosu also expressed satisfaction at how the bank treats all it shareholders even they come with whatever issue but called on the new chairman of the bank, Egbert Imomoh, to follow the step of his predecessor and think of how to grow the business.

According to the Managing Director of GTBank, Segun Agbaje said, the drive of the bank is to grow the business and satisfy its shareholders.

Agbaje said, ‘”At the onset of the 2013 Financial Year, our Commitment was to continue our business in a manner that would beneficial to all our Stakeholders. This we planned to do by paying critical attention to service delivery, instituting innovative alternative channels that would enhance our customer experiences, expand our share of available business opportunities and grow our regional footprint in Africa. On all these fonts, we made appreciable progress despite competitors offering basically the same services and the peculiarities of our operating environment. With our performance , we will maintain our commitment to maximizing shareholder value with a dividend payout of N1.70 per share, an increase of 10% over N1.55 paid in2012 and share price appreciation of 17% in 2013’.

In a way to keep the bank’s highly respected brand lively, the Bank currently operates from over 230 branches within Nigeria and has banking subsidiaries in Cote D’ivoire, Gambia, Ghana, Liberia, Sierra Leone, Uganda, Kenya, Rwanda and the United Kingdom.

At the AGM, Mrs. Osaretin Afusat Demuren was presented to shareholders for election as Non-Executive director of the Bank.

Mrs. Demuren, was appointed as a member of the Board of Guaranty Trust Bank plc on April 17, 2013, she holds a Master of Science Degree in Economics and Statistics form the Moscow Institute of Economics and Statistics, Moscow, and a Diploma in Russian Language and Preliminary Studies from the Kiev State University, Kiev. She is a member of many professional associations including the Society for Human Resources of America. Nigerian Statistical Association, Chartered Institute of Personal Management of Nigeria and the Chartered Institute of Bankers of Nigeria. She was at various times a member and secretary to the Public enlightenment Committee on Second-tier Foreign Exchange Market, a Representative of the Central Bank of Nigeria on Special Investigation panel on Trade Malpractices of the Federal Ministry of Commerce and Tourism.