Guaranty Trust Holding Company Plc (NGX: GTCO)

GTCO Income Statement

Financials in millions NGN. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	924,266	531,018	294,873	251,466	288,279	291,658
Interest Income on Investments	18,431	19,738	30,527	15,427	12,459	4,546
Total Interest Income	942,697	550,755	325,400	266,894	300,738	296,205
Interest Paid on Deposits	191,948	114,059	66,097	46,281	47,069	64,842
Net Interest Income	750,749	436,697	259,303	220,613	253,668	231,363
Net Interest Income Growth (YoY)	137.64%	68.41%	17.54%	-13.03%	9.64%	4.01%
Income From Trading Activities	76,655	62,201	40,282	29,646	-	-
Gain (Loss) on Sale of Assets	129.65	11.58	82.69	-15	26.81	112.65
Gain (Loss) on Sale of Investments	-14,037	-94,992	-35,945	-760.8	3,191	100.47
Other Non-Interest Income	866,214	558,764	160,315	142,813	148,221	136,014
Total Non-Interest Income	928,962	525,984	164,735	171,683	151,438	136,227
Non-Interest Income Growth (YoY)	112.17%	219.29%	-4.05%	13.37%	11.17%	8.82%
Revenues Before Loan Losses	1,679,711	962,681	424,038	392,296	405,106	367,590
Provision for Loan Losses	67,386	102,953	11,987	8,531	19,573	4,912
Revenue	1,612,325	859,727	412,052	383,765	385,533	362,678
Revenue Growth (YoY)	143.44%	108.65%	7.37%	-0.46%	6.30%	5.83%
Salaries and Employee Benefits	66,959	49,316	36,693	34,391	36,434	35,787
Occupancy Expenses	47,254	39,095	35,467	35,300	31,155	24,807
Selling, General & Administrative	33,894	23,634	21,782	9,517	11,504	8,964
Other Non-Interest Expense	169,431	129,274	103,990	83,059	68,346	61,413
Total Non-Interest Expense	317,538	241,319	197,932	162,267	147,438	130,971
EBT Excluding Unusual Items	1,294,787	618,409	214,120	221,498	238,095	231,708
Legal Settlements	-9,100	-9,100	34.51	-	-	-
Pretax Income	1,285,686	609,308	214,154	221,498	238,095	231,708
Income Tax Expense	120,946	69,654	44,981	46,658	36,655	34,842
Earnings From Continuing Operations	1,164,740	539,655	169,173	174,839	201,440	196,866
Earnings From Discontinued Operations	-	-	-	-	-	-16.39
Minority Interest in Earnings	-8,956	-5,229	-2,437	-2,732	-1,830	-1,467
Net Income	1,155,784	534,425	166,737	172,107	199,609	195,382
Net Income to Common	1,155,784	534,425	166,737	172,107	199,609	195,382
Net Income Growth	212.82%	220.52%	-3.12%	-13.78%	2.16%	6.23%
Basic Shares Outstanding	28,018	28,022	28,022	28,038	28,085	28,085
Diluted Shares Outstanding	28,018	28,022	28,022	28,038	28,085	28,085
Shares Change (YoY)	-0.01%	-	-0.06%	-0.17%	-	-0.09%
EPS (Basic)	41.25	19.07	5.95	6.14	7.11	6.96
EPS (Diluted)	41.25	19.07	5.95	6.14	7.11	6.96
EPS Growth	212.83%	220.50%	-3.07%	-13.63%	2.16%	6.37%
Dividend Per Share	3.700	3.200	3.100	3.000	3.000	2.800
Dividend Growth	12.12%	3.23%	3.33%	0%	7.14%	1.82%
Effective Tax Rate	9.41%	11.43%	21.00%	21.06%	15.40%	15.04%

Source: S&P Capital IQ. Banks template. Financial Sources.