"GTBank posts GHS 349m profit, GHS 7.2bn assets value for Q3 2022"

" GTBank posts GHS 349m profit, GHS 7.2bn assets value for Q3 2022 \r\n\r\nGuaranty Trust Bank (GTBank) Ghana, for the period ended Q3 2022, posted total profit of GHS 349m.\r\n\r\nCompared to the GHS 234m profit recorded same period last year, the bank\u2019s 2022 third quarter profit, indicates an increase of some GHS 115m in profit.\r\n\r\nGrowth in the bank\u2019s profit for Q3 2022, was on the account of increment in its profit before tax from GHS 360m in Q3 2021 to GHS 537m in Q3 2022.\r\n\r\nFor the review period, total assets value of the bank grew from GHS 5.03bn in Q3 2021 to GHS 7.2bn in Q3 2022.\r\n\r\nElements contributing to the significant increment in GTBank\u2019s total assets value were its cash and cash equivalents, loans and advances to customers and investment securities.\r\n\r\nThe bank\u2019s cash and cash equivalents for the review period increased from GHS 894m to GHS 1.86bn.\r\n\r\nLoans and advances to customers grew from GHS 1.64bn to GHS 2.03bn with investment in securities also witnessing growth in value from GHS 1.01bn to GHS 2.23bn.\r\n\r\nAsset quality of the bank witnessed marginal deterioration as the bank\u2019s non-performing loans increased from 1.6% in Q3 2021 to 2.61% in Q3 2022.\r\n\r\nDespite the increase in non-performing loans, the bank\u2019s non-performing loans is significantly lower than the industry\u2019s average non-performing loans of 14%.\r\n\r\nThe bank\u2019s liquidity ratio for the review period also witnessed a decline, falling by 8.01 percentage points from the 59.99% liquidity ratio recorded in Q3 2021 to 51.98% liquidity ratio recorded in Q3 2022.\r\n\r\nWith regards to the bank\u2019s Capital Adequacy Ratio (CAR), GTBank within the review period, grew its CAR by 1.37 percentage points \u2013 from 33.85% in Q3 2021 to 35.22% in Q3 2022.\r\n\r\n \r\n\r\n \u00a0 \r\n\r\n "

"GTBank posts GHS 349m profit, GHS 7.2bn assets value for Q3 2022"

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