Chief Executive Officer, Guaranty Trust Bank Plc, Mr. Segun Agbaje, has attributed the bank’s success in 2012 financial year to customers’ loyalty.
The bank’s results for the just released 2012 financial year showed a profit before tax of N103bn.
A statement on Sunday quoted Agbaje as saying this a few days after the bank published its audited 2012 results.
The CEO said no organisation could be profitable if its customers did not believe and support its vision.
He said, “There is a direct relationship between a company’s level of profitability and public perception about its brand. When people see a brand as a valued partner, they continue to do business with it, which ultimately translates to profitability.
“Companies on the other hand have a responsibility to ensure their customers are satisfied at all times and treated with respect. This knowledge is the base rock upon which our 2012 performance is hinged.”
The banks group’s results also showed improved gross earnings of N221.9bn and 69 per cent in profit after tax to N87.3bn. This was much higher that the N51.7bn recorded in 2011.
The bank closed the 2012 financial year with an on-balance sheet size of N1.73tn as against N1.608tn in 2011.
Its total assets and contingents for 2012 stood at N2.26tn as against N2.14tn in 2011. These represented a growth of eight per cent and six per cent, respectively.
The statement added that the bank’s stance as an upstanding social citizen and commitment to full disclosure was evidenced by its 2012 tax liabilities, which came to over N16.3bn, while total dividend payment for the financial year was projected at N45.62bn (N1.55 per ordinary share of 0.50 kobo each).
Agbaje stressed that the bank would continue to introduce products and alternative channels that would allow the public to undertake their banking activities quickly, safely and conveniently.
GTB as established in 1990 and it operates from over 200 branches within the country.
