The shareholders of Guaranty Tust Bank have approved payment of the N1.75 dividend per share recommended for the year ended December 31, 2014.
The approval was made at the 25thannual general meeting (AGM) of The bankmin Lagos.
Chairman of the bank’s Board of Directors, Mr Gilbert Imomoh, told the shareholders that profit before tax increased from N107.09billion in 2013 to N116.39 billion in 2014, while total assets stood at N2.36trillion, representing a 12 per cent increase over the N2.1trillion recorded in the previous year.
He explained that GTBank’s customer’s deposits, which could be viewed as a direct index of public confidence grew by 13.3 per cent from N1.43 trillion in 2013 to N1.62trillion in 2014.
Speaking on value creation for shareholders, the Managing Director/CEO of GTBant, Mr. Segun Agbaje explained, “We recorded earnings per share of N3.47, pre-tax return on average equity (ROAE) of 32.94 per cent and return on average asset (ROAA) of 5.22 per cent respectively. He added that loans and advances grew by 27.12 per cent to N1.28trillion from N1.01trillion in the previous year.
Meanwhile, Mrs. Osaretin Demuren has been appointed as the new chairman of GTBank following the retirement Imomoh.
Demuren, who joined the board of GTBank in 2013, had a successful career with the Central Bank of Nigeria, which spanned over 33 years.
She served as Director, Trade and Exchange Department and was deployed to serve as the Director, Human Resources Department in 2004; a position which she held until her retirement from the Central Bank of Nigeria in December 2009. She was the first female Director of the Central Bank of Nigeria.
Demuren holds a Master’s Degree in Economics and Statistics from the Moscow Institute of Economics and Statistics, Moscow, and a Diploma in Russian Language and Preliminary Studies from the Kiev State University, Kiev.
