GTCO reports N1.27trn profit in 2024FY

Guaranty Trust Holding Company Plc (GTCO) on Friday announced N1.27 trillion profit before tax, about 107.8 per cent increase over N609.31 billion declared in 2023 financial year.

The Group on Nigerian Exchange Limited (NGX) disclosed a profit after tax of N1.02 trillion, representing an increase of 88.6 per cent from N539.66 billion in 2023.

For GTCO to report N1.27 trillion profit before tax  in 2024, it means  Zenith  Bank  Plc in 2024 was the  most  profitable  financial  institution  in  Nigeria.  Zenith Bank  in 2024FY announced N1.33 trillion  profit before  tax from  N795.96 billion posted in 2023FY. 

However, GTCO’s directors in 2024   proposed the payment of an interim dividend in the sum of N1.00K per ordinary share on the issued capital of 29,431,179,224 Ordinary Shares of 50 Kobo each payable to Shareholders

The Director recommend the payment of a final dividend of N7.03k per  ordinary share of 50 Kobo (bringing the total dividend for the financial year ended December 31, 2024, to N 8.03k   (2023: N3.20K per share).