Finance: Here’s how much GTBank made from its charges on your account within 6 months

The financial report also showed that the bank recorded N95.5 billion as profit after tax for the period ended June 30, 2018.

Nigeria's tier-1 bank, Guaranty Trust Bank Plc, made N27.3 million from fees, commission and other charges in the last 6 months, according to the financial statement seen by Business Insider Sub-Saharan Africa.

The financial report released last week also showed that the bank recorded N95.5 billion as profit after tax for the period ended June 30, 2018.

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Segun Agbaje, the Managing Director/CEO of the bank, while commenting on the financial report said; “In spite of declining yields and the challenges in the operating environment, we have delivered a decent half year result. The quality of this result is built on the strength of our businesses as well as the success of our digital-first customer-centric strategy in delivering financial services that are simpler, cheaper and more valuable to our customers’ everyday lives.”

Here’s how much the bank made from various charges within the period

- Account Maintenance Charges - N5.1 million

- E-business Income - N4.27 million

- Commission on foreign exchange deals - N2.4 million  

- Account services, maintenance and ancillary banking charges - N3.2 million

- Transfers related charges - N1.2 million

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Here are some of the details of the financial indices:

- Profit before tax stood at N109.6 billion, representing a growth of 8.4% over N101.1 billion recorded in the corresponding period of June 2017.

- Loan book dipped by 10.8% from N1.449 trillion recorded as at December 2017 to N1.293 trillion in June 2018.

- Gross earnings for the period grew by 5.9% to N226.6 billion from N214.1 billion reported in June 2017.

- Customers’ deposit grew by 10.0% to N2.269 trillion from N2.062 trillion in December 2017.

- Post- Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 34.1% and 5.5% respectively.

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