Fitch affirms Guaranty Trust Bank at ‘B’; off RWN; Outlook Stable

GTBank Fitch ratings

Fitch Ratings has affirmed Guaranty Trust Bank (GTB) Plc’s Long-Term Issuer Default Rating (IDR) at ‘B’ and removed it from Rating Watch Negative (RWN). The Outlook is Stable. The removal of GTB‘s Long-Term IDRs, Viability Rating (VR) and National Ratings from RWN reflects Fitch’s view of receding near-term risks to the bank’s credit fundamentals from the economic fallout arising from the oil price crash and coronavirus pandemic. In our opinion, the impact of the economic downturn on GTB‘s credit profile is tolerable at the current rating and it will take several quarters before the…

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GTBank posts N94.3bn profit for H1’20; declares 30kobo dividend


Guaranty Trust Bank (GTBank) has posted a profit before tax of N109.7 billion for the first half this year, 2020. The tier-1 lender revealed this information in its financial statements for the period ended June 30, 2020, released recently at the Nigerian Stock Exchange (NSE). Analysis of the report reflected impacts of Coronavirus pandemic of the lender’s performance within the period under review following general economic hiccups created by the pandemic. This, alongside higher operating expenses and lower net fee and commission income, explains the decline recorded in the pre-tax…

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