WATCH THE VIDEO HERE GTCO Plc released its third-quarter results, showing that pre-tax profits rose to N215.69 billion, compared to N105.8 billion recorded in the corresponding quarter of 2023. These third-quarter profits helped boost the financial holding company’s nine-month pre-tax profits to N1.2 trillion — the highest on record in the financial services sector, following the N1 trillion milestone achieved in the first half of the year. The nine-month performance also enabled the bank to reach N1 trillion in profit after tax for the first time, making it the first bank to achieve this milestone. The bank reported total assets of N15.6 trillion for the first time in its history, while net assets also rose to N2.62 trillion — another all-time high for the company. Commentary A cursory review of the results reveals that GTCO reported a pre-tax profit of N215.6 billion in the quarter under review. Despite this decline, the HoldCo crossed the N1 trillion profit after tax mark for the first time ever, becoming the first in the financial services sector to achieve this milestone.
GTCO pre-tax profits hit N1.2 trillion in first 9 months of 2024
