GTCO Plc records profit of N175 bn in 2021

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Guaranty Trust Holding Co (GTCO) Plc has released its first full-year financial result as a group which revealed a profit of N175 billion in 2021. This reflects a 13.21% decrease year on year.

GTCO also reported earnings per share of N6.14, a 13.64% decline from the N7.11 reported a year earlier. The group has reported a steady decline in the performance of topline income since 2017, depreciating by 30% in 4 years.

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The statement revealed that in the financial year that ended  December 31,  2021, interest income fell by 12.77% from N288.28 billion to N251.47 billion in the current period.

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