Guaranty Trust Holding Co. (GTCO),reported a 12% fall in nine-month (9M) profit as its loan book shrank, deposit costs jumped and a heavier tax bill cut into earnings. The results expose pressure on a business model that now relies more on government securities than on lending. Profit after tax fell to N614.57 billion in the … Continue reading GTCO’s Worrying Business Model: Loan Book Shrinks, Profit Falls 12% and Deposit Costs Jump 43%