GTCO’s pre-tax profit hits N1tr in six months

GTCO Plc yesterday released its second quarter audited financial statements showing a pre-tax profit of N494.5 billion.

With the results published on the Nigerian Exchange (NGX) website yesterday, the bank’s profit after tax hit over N1tr in the first half of the year.

The bank had earlier in the first quarter declared N509.3 billion, bringing its profit after tax to N1 trillion in the first half of 2024.

Daily Trust reports that the profit nearly doubles the same profits reported a year earlier, representing the best to be declared by any financial holding group.

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Other highlights of the results showed that the company recorded total deposits of N10.2 trillion with total assets rising to N2.3 trillion.