Banking
Growth in Interest Income Buoys GTBank’s 2017 Earnings
**Pays N2.40k Per Share Dividend
By Dipo Olowookere
Foremost pan-African lender, Guaranty Trust Bank (GTBank) Plc has released its audited financial results for the year ended December 31, 2017 to the Nigerian and London Stock Exchanges.
A review of the results shows positive performance across all financial indices, reaffirming the bank’s position as one of the most profitable and well managed financial institutions in Nigeria.
In the financial statements, the lender’s gross earnings for the year grew by 1.1 percent to N419.2 billion from N414.6 billion reported in the December 2016; driven primarily by growth in interest income as well as e-payment revenues.
During the year under review, the profit before tax stood at N200.2 billion, representing a growth of 21.3 percent over N165.1billion recorded in the corresponding year ended December 2016, while the profit after tax was N170.5 billion last year in contrast to N132.3 billion achieved two years ago.
Also, the financial institution’s loan book dipped by 8.9 percent from N1.590 trillion recorded as at December 2016 to N1.449 trillion in December 2017 while customer deposits increased by 3.8 percent to N2.062 trillion from N1.986 trillion in December 2016.
Furthermore, the bank’s balance sheet remained strong with a 3.9 percent growth in Total Assets and Contingents as the lender closed the year ended December 2017 with Total Assets and Contingents of N3.845 trillion and Shareholders’ Funds of N625.2 billion.
In terms of assets quality, NPL ratio increased to 7.7 percent in December 2017 from 3.7 percent in December 2016 largely as a result of classification of a single exposure within the Nigerian Telecommunications Industry.
However, the non-performing loans would moderate to 4.6 percent, which is below regulatory threshold of 5 percent, if the single loan exposure is excluded from the NPL ratio computation.
Overall, asset quality remains stable with adequate coverage of 119.6 percent, while capital remains strong with CAR of 25.7 percent.
On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) closed at 35.4 percent and 6.2 percent respectively.
Meanwhile, GTBank has proposed a final dividend of 240k (N2.40k) per unit of ordinary share held by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2017 financial year to N2.70 per unit of ordinary share.
Commenting on the financial results, Managing Director/CEO of GTBank, Mr Segun Agbaje, said, “2017 was a pivotal year for the bank. We delivered a strong result in a challenging environment; achieving record growth in earnings, carefully managing cost margins and leveraging our digital-first customer-centric strategy to deliver world-class services that are simple, cheap and easily accessible.”
He further stated that, “The result demonstrates the fundamental strength of our franchise as well as the progress we are making in transforming our organization into a platform on which our customers could build their businesses, connect with their consumers and access all the resources that they need to make their lives better.”
GTBank has continued to report the best financial ratios for a Financial Institution in the industry as revealed by its return on equity (ROE) of 35.4 percent and cost to income ratio of 38.1 percent evidencing the efficient management of assets and operational efficiency.
Overall, the bank has enshrined its position as a clear leader in the industry.
In recognition of its innovation and hard work, GTBank received over 20 international awards in 2017.
Banking
Stanbic IBTC Reinforces Role in Driving Businesses, Key Sectors in Nigeria
By Adedapo Adesanya
Top financial services provider in Nigeria, Stanbic IBTC, has reiterated its commitment to empowering businesses, strengthening key sectors and positioning Nigeria as a competitive player in the global economy.
This came on the back of the 2026 edition of the Nigeria Business Summit from Wednesday, April 1 to Thursday, April 2, 2026, at the Landmark Event Centre, Victoria Island, Lagos. The two-day summit brought together industry leaders, policymakers, entrepreneurs and stakeholders across multiple sectors to explore sustainable business practices, foster economic growth and unlock global trade opportunities.
With the theme, Nigeria Means Business: Powering Sectors, Growing Sustainable SMEs & Unlocking Global Trade, the summit addressed critical issues across key sectors, including agribusiness, renewable energy, trade and Africa–China banking, as well as ICT and telecommunications. Additional sessions covered areas such as family business sustainability, artificial intelligence, employee value banking, insurance, pension and wealth management.
The event featured a keynote address by the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who emphasised the urgent need for Nigeria to reposition itself as a leading export-driven economy to achieve sustained growth.
“Our true potential lies in becoming a leading export economy,” Edun stated. “Increased participation in regional and global trade will be critical to diversifying foreign exchange earnings and driving inclusive growth.”
He noted that while Nigeria’s GDP growth has improved to approximately 4 per cent, it remains below the level required to significantly reduce poverty. According to him, the country’s economic strategy is now shifting from stabilisation to growth acceleration, with trade expansion playing a central role.
Mr Edun highlighted ongoing reforms, including improved foreign reserves, rising non-oil revenues and renewed investor confidence, as indicators of a more resilient economy. However, he stressed that enhancing trade competitiveness would require continued investment in infrastructure, logistics and policy coordination.
He also highlighted the importance of small and medium-sized enterprises (SMEs), which account for over 90 per cent of businesses, noting that inclusive growth will depend on stronger collaboration between the public and private sectors.
Participants engaged in a rich line-up of activities, including expert presentations, panel discussions and high-level networking opportunities. Highlights of the summit included the Africa Trade Barometer presentation, client testimonial showcases and insightful discussions on the state of the African economy and intra-African trade opportunities.
Breakout sessions on agribusiness, ICT and healthcare, Africa-China banking and trade, as well as renewable energy, provided attendees with deeper, practical insights into some of the most critical sectors driving Nigeria’s economic future.
Speaking at the event, Mr Chuma Nwokocha, chief executive of Stanbic IBTC Holdings, represented by the organisation’s Chief Finance and Value Management Officer, Mr Kunle Adedeji, emphasised the importance of collaboration and innovation in driving sustainable growth.
“This summit has reinforced the importance of creating platforms where ideas can flourish, and businesses can grow sustainably. By working together, we can unlock new opportunities and drive economic advancement across Nigeria and the African continent,” he said.
The summit also spotlighted practical strategies for integrating sustainability into business operations, encouraging organisations to adopt environmentally conscious practices while maintaining profitability and competitiveness.
Mr Remy Osuagwu, Executive Director, Business & Commercial Banking, expressed satisfaction at the level of interest from participants, a critical element for a successful summit.
“From our conversations on energy and healthcare to the deep dives into trade, Africa-China relations, and agribusiness, Day 1 has offered perspectives that were both insightful and practical. I believe we’re all leaving with a stronger understanding of the opportunities emerging across our industries,” he said.
He acknowledged the level of engagement, questions, contributions and willingness of participants to share experiences, describing this as the real power of the Nigeria Business Summit, and a solid foundation for tomorrow.
The Chief Executive of Stanbic IBTC Bank, Mr Wole Adeniyi, who was represented by Mrs Bunmi Dayo-Olagunju, Deputy Chief Executive of Stanbic IBTC Bank, opened Day Two of the Nigeria Business Summit by highlighting the focus of the summit’s SME Day.
“Today, we build on Day One’s momentum with conversations that are equally critical for the future – from the dynamics of family businesses to the growing influence of artificial intelligence; the evolution of insurance, and the emerging space of electric vehicle banking.”
She further added, “Our goal on Day Two is simple: to explore what’s next. To understand how these developments will shape our businesses and how we can position ourselves ahead of the curve.”
Banking
Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0
By Dipo Olowookere
Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.
The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.
The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.
Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.
It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.
“Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.
“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.
“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.
“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.
The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.
Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.
Banking
Easter: Ecobank Assures Customers Uninterrupted Banking Services
By Dipo Olowookere
Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.
In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.
It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.
All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.
Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.
They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.
“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.
“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.
“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.
Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”
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