GT Bank declares N165.14bn profit in 2016

Guaranty Trust Bank Plc on Wednesday posted a profit before tax of N165.14 billion for the financial year ended December 31, 2016.

The profit represented a growth of 37 per cent when compared to N120.69 billion recorded in the corresponding period of 2015.

A statement issued by the bank in Lagos said the bank’s gross earnings for the review period grew by 37 per cent to N414.62 billion from N301.85 billion reported in December 2015.

Yobe Govt liquidates civil servants’ loans with GTB

The Yobe state government has liquidated N500 million loan obtained by civil servants from Guaranty Trust Bank, Governor Ibrahim Gaidam, said this at a pre-retirement workshop for retiring civil servants.

He said the government supported the civil servants and the Nigerian Labour Congress because they could not settle the loans obtained from Guaranty Trust Bank.

“A bail out of over N500 million was made available by the state government to liquidate the loan to make life more meaningful to o those who are retirees among the civil servants,” he said.

Gaidam also announced the approval of N50 million monthly for payment of gratuity to retired civil servants in the state.

The governor said the basis of the workshop was to prepare retirees towards a fulfilling and rewarding life after retirement.

He said government acknowledged and appreciates the enormous contributions made by civil servants to the development of the state.

The governor lamented that “retirees often find it difficult if not impossible to adjust to the realities of life after retirement and in most cases find themselves in serious dilemma.”