Guaranty Trust Holding Company Plc (NGX: GTCO)

NGX: 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	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	1,136,718	531,018	294,873	251,466	288,279	291,658
Interest Income on Investments	19,738	19,738	30,527	15,427	12,459	4,546
Total Interest Income	1,156,455	550,755	325,400	266,894	300,738	296,205
Interest Paid on Deposits	222,759	114,059	66,097	46,281	47,069	64,842
Net Interest Income	933,697	436,697	259,303	220,613	253,668	231,363
Net Interest Income Growth (YoY)	154.31%	68.41%	17.54%	-13.03%	9.64%	4.01%
Income From Trading Activities	62,201	62,201	40,282	29,646	-	-
Gain (Loss) on Sale of Assets	11.58	11.58	82.69	-15	26.81	112.65
Gain (Loss) on Sale of Investments	-94,992	-94,992	-35,945	-760.8	3,191	100.47
Other Non-Interest Income	900,864	558,764	160,315	142,813	148,221	136,014
Total Non-Interest Income	868,084	525,984	164,735	171,683	151,438	136,227
Non-Interest Income Growth (YoY)	93.17%	219.29%	-4.05%	13.37%	11.17%	8.82%
Revenues Before Loan Losses	1,801,781	962,681	424,038	392,296	405,106	367,590
Provision for Loan Losses	102,953	102,953	11,987	8,531	19,573	4,912
Revenue	1,698,827	859,727	412,052	383,765	385,533	362,678
Revenue Growth (YoY)	136.35%	108.65%	7.37%	-0.46%	6.30%	5.83%
Salaries and Employee Benefits	49,316	49,316	36,693	34,391	36,434	35,787
Occupancy Expenses	39,095	39,095	35,467	35,300	31,155	24,807
Selling, General & Administrative	135,234	23,634	21,782	9,517	11,504	8,964
Other Non-Interest Expense	70,474	129,274	103,990	83,059	68,346	61,413
Total Non-Interest Expense	294,119	241,319	197,932	162,267	147,438	130,971
EBT Excluding Unusual Items	1,404,709	618,409	214,120	221,498	238,095	231,708
Legal Settlements	-9,100	-9,100	34.51	-	-	-
Pretax Income	1,395,608	609,308	214,154	221,498	238,095	231,708
Income Tax Expense	138,354	69,654	44,981	46,658	36,655	34,842
Earnings From Continuing Operations	1,257,255	539,655	169,173	174,839	201,440	196,866
Earnings From Discontinued Operations	-	-	-	-	-	-16.39
Minority Interest in Earnings	-5,229	-5,229	-2,437	-2,732	-1,830	-1,467
Net Income	1,252,025	534,425	166,737	172,107	199,609	195,382
Net Income to Common	1,252,025	534,425	166,737	172,107	199,609	195,382
Net Income Growth	210.80%	220.52%	-3.12%	-13.78%	2.16%	6.23%
Basic Shares Outstanding	28,017	28,022	28,022	28,038	28,085	28,085
Diluted Shares Outstanding	28,017	28,022	28,022	28,038	28,085	28,085
Shares Change (YoY)	0.47%	-	-0.06%	-0.17%	-	-0.09%
EPS (Basic)	44.69	19.07	5.95	6.14	7.11	6.96
EPS (Diluted)	44.69	19.07	5.95	6.14	7.11	6.96
EPS Growth	209.35%	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	9.91%	11.43%	21.00%	21.06%	15.40%	15.04%

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