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Guaranty Trust Bank Earns 56% of Revenues from Corporate Banking

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Guaranty Trust Bank, Nigeria’s largest bank by market capitalization is still mostly a corporate banking outfit despite recent moves to be retail focused.

The bank earned 56.6 percent of its 2020 revenues from the corporate banking segment in 2020, equivalent to N205.8 billion.

This was followed by retail banking where it earned 28.6 percent of revenues or N103.2 billion, commercial banking 6.7 percent or N24.65 billion, SME’s 6.1 percent or N22.41 billion and public sector banking 2 percent or N7.158 billion.

GTBank had total revenues of N363.34 billion in 2020, according to results released by the bank last week.

Profit for the year came in at N201.43 billion, up marginally from the 2019 levels of N196.8 billion.

The Directors recommend the payment of a final dividend of N2.70k (Two Naira, Seventy Kobo Only) per ordinary share of 50 Kobo (bringing the total dividend for the financial year ended December 31, 2020 to N3.00k (2019: N2.80K per share).

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