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Guaranty Trust Bank plc has released its audited financial results for the half year ended June 30, 2019 to the Nigerian and London Stock Exchanges.

The half year result shows positive growth across key financial metrics and reflects GTBank’s leading position as one of the best managed financial institutions in Africa. The Bank reported a Profit before Tax of ₦115.8billion, representing a growth of 5.6% over ₦109.6billion recorded in the corresponding period of 2018. The Bank’s loan book grew by 1.0% from ₦1.262trillion recorded as at December 2018 to ₦1.274trillion in June 2019 and customer deposits increased by 6.3% to ₦2.418trillion from ₦2.274trillion in December 2018.
The Bank closed the half year ended June 2019 with Total Assets of ₦3.598trillion and Shareholders’ Funds of ₦603.0Billion. In terms of Asset quality, NPL ratio and Cost of Risk improved to 6.8% and 0.2% in June 2019 from 7.3% and 0.3% in December 2018 respectively. Overall, asset quality remains stable with adequate coverage of 84.7%, while Capital remains strong with CAR of 23.5%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) stood at 33.7% and 5.8% respectively. The Bank is proposing an interim dividend of 30kobo per ordinary share of 50 kobo each for period ended June 30, 2019.
Commenting on the financial results, the Chief Executive Officer of Guaranty Trust Bank plc, Segun Agbaje, said; “We have delivered a good result inspite of a challenging market, characterized by varying degrees of uncertainty and a rapidly changing competitive landscape. Our strong financial performance is underpinned by our unwavering focus on delivering value for our shareholders and reimagining the role we play in our customers’ lives.”
He further stated that “In a rapidly changing world and increasingly unpredictable environment, we are committed to building a long-term business that is both nimble and focused on flawless execution. The progress that we have made over the past six months demonstrates that we have the right strategy and the dedicated team to deliver for all our stakeholders, even in difficult conditions.”
The Bank has continued to report the best financial ratios for a Financial Institution in the industry with a return on equity (ROE) of 33.7% and a cost to income ratio of 37.6% evidencing the efficient management of the banks’ assets. These ratios are a testament to the competent and experienced management and work-force, efficient balance sheet structure and operational efficiency of the Bank. In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years. Some of these include Africa’s Best Bank and Best Bank in Nigeria from Euromoney Magazine, and Best Banking Group and Best Retail Bank by World Finance Magazine.

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EVENT

Wahala As Pastor Cancells Wedding Because The Couple Came 5 Minutes Late [WATCH]

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The pastor of fulfilling word foundation has reportedly canceled a wedding ceremony because the to-be couple came about 5 minutes behind schedule. The bride was seen crying profusely in the viral video and the groom looked upset.

The congregation also doesn’t seem to be happy with the pastor, who has been tagged as Jesus “spokesperson” who failed to consider other factors that may have delayed the couple.

Twitter users have been dragging the so-called man of God, and questioning his moral and spiritual standing to put asunder on what God intends to join together..


Pastor cancelled a wedding because the couples came 5 minutes late.
Wahala.
As na pastor be spokesman to God.@ajuicygeorge @pizzlehoudini @TheRadioLioness @phspecials pic.twitter.com/8f7tOtRyno

— ODOGWU of PH🥋 (@Humphrey099) February 6, 2021

pic.twitter.com/uvM82UfyP6

— ODOGWU of PH🥋 (@Humphrey099) February 6, 2021

pic.twitter.com/4bPIxL3eGQ

— ODOGWU of PH🥋 (@Humphrey099) February 6, 2021

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Entertainment

Deluxe Entertainment set to take over Nigeria’s event planning & management industry with world-class equipment

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Deluxe Entertainment is an event planning and management agency focused on helping her clients fulfill their fantasies. No matter how you want your event to be or look, we’ve got you covered.

 

Deluxe specializes in providing the technical and digital advantage to your events such that we guarantee all spheres of hospitality, entertainment, and coverage. Whether it is wedding, graduation, political campaign, revival, burial ceremony, or book launch, we give you the best options and cutting-edge digital support.

 

 

 

While Event planning and management is the passion, we also have sufficient history of organizing major events that attract national attention.  We have helped in organizing events for Presidency, Governors, lawmakers, ministers, and other top socialites and elites in Nigeria.

 

 

 

Deluxe Entertainment provides exceptional planning services for weddings, luxury themed events, and corporate events internationally. The team delivers unparalleled customer service and an innovative approach to ensuring your event is memorable.

 

 

 

Because Deluxe team has so many tools available to us, we are able to pick the best solution to your individual problem.  This allows us to provide solutions that are just simply unavailable to most event planning companies.

 

 

 

Deluxe  Entertainment is an eco-friendly company that follows all required safety and evacuation plan of every venue and the state, we say yes to the planet, setting a trend, rather than follow it.

 

 

 

Services include Custom Building and Design Services, Entertainment Bookings & Management, Event Budget Development, Event Food & Beverage Planning, Event Furnishings, Event Theme Development

 

On-Site Event Management & Staffing, Vendor Negotiations & Management, Venue Selection & Management.

 

At Deluxe Entertainment, we do not believe in the “status quo.” Her goals are to move forward meeting challenges, making a positive impact. We are personally invested in the success and achievements of each person and every event.

 

We have organized a lot of mega shows in Ilorin like the presidential campaigns, governorship campaigns, and we have some of the most advanced entertainment equipment and facility.

 

Deluxe Entertainment project is mobile. The company works all over Nigeria. It has done shows in Lagos, with state of the art stage and P.A system, L.E.D screens, exclusive lightings, moving earth, and many more. The brand also organizes world class shows, set up several world class wedding receptions, burial receptions, set up for exclusive birthday party, children’s birthdays, and Kiddies birthdays.

 

Deluxe Entertainment brings the show to your doorstep and gives you world-class qualities.

 

About the MD/CEO

 

Yemi George Adeyemo is an indigene of Ogbomoso in Oyo State. He did his early education in Nigeria and went further to study in Germany. He’s lived in Germany for more than 30 years. He’s purely into entertainment. He has a mega entertainment outfit and works all over Europe; Germany, Holland, Russia, and all over. It is the experience and expertise that he has brought to Nigeria. Yemi George is heading the brand in Nigeria, while his German partner manages the head office in Germany. The head office in Nigeria is in Ilorin, and we are also running a top-notch branch in Lagos.

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