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- Please Change Name Akin Majekodunmi
- CFA
Guaranty Trust Bank Plc: Update following rating action
FINANCIAL INSTITUTIONS CREDIT OPINION 20 November 2017 Update RATINGS Guaranty Trust Bank Plc Domicile Lagos, Nigeria Long Term Debt Not Assigned Long Term Deposit B3 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts
- Please Change Name Akin Majekodunmi
- CFA
Guaranty Trust Bank Plc: Update following rating action
FINANCIAL INSTITUTIONS CREDIT OPINION 20 November 2017 Update RATINGS Guaranty Trust Bank Plc Domicile Lagos, Nigeria Long Term Debt Not Assigned Long Term Deposit B3 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts
- Please Change Name Akin Majekodunmi
- CFA
Guaranty Trust Bank Plc: Regular update
FINANCIAL INSTITUTIONS CREDIT OPINION 13 October 2017 Update RATINGS Guaranty Trust Bank Plc Domicile Lagos, Nigeria Long Term Debt Not Assigned Long Term Deposit B2 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts
- Please Change Name Akin Majekodunmi
- CFA
Guaranty Trust Bank Plc: Regular update
FINANCIAL INSTITUTIONS CREDIT OPINION 13 October 2017 Update RATINGS Guaranty Trust Bank Plc Domicile Lagos, Nigeria Long Term Debt Not Assigned Long Term Deposit B2 Type LT Bank Deposits - Fgn Curr Outlook Stable Please see the ratings section  at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts
Guaranty's Planned Bond Buyback Will Boost Net Interest Income
  ISSUER COMMENT BANKING  OCTOBER 2, 2017  Guaranty’s Planned Bond Buyback Will Boost Net Interest Income From Credit Outlook  Last Monday, Guaranty Trust Bank Plc  (B1 stable, b1 1 ) offered  to buy back up to $400 m
Guaranty's Planned Bond Buyback Will Boost Net Interest Income
  ISSUER COMMENT BANKING  OCTOBER 2, 2017  Guaranty’s Planned Bond Buyback Will Boost Net Interest Income From Credit Outlook  Last Monday, Guaranty Trust Bank Plc  (B1 stable, b1 1 ) offered  to buy back up to $400 m
GUARANTY TRUST BANK PLC Q1'17 - On track for another record performanc...
​Maintaining last year’s impressive performance, GUARANTY released Q1’17 results, posting strong y/y growth across major line items as earnings came in significantly better than expected. Whilst we note that management had been quite optimistic with its earnings guidelines, forecasting a ₦168 billion PBT for FY’17 (FY’16A: ₦165 billion), we were more conservative with our forecast given that FY’16 earnings were largely supported by the exceptional FX revaluation gains following t...
GUARANTY TRUST BANK PLC FY'16 - Record year profit tracks Vetiva estim...
·        GUARANTY released FY’16 results, posting record high top and bottom line performances – largely supported by strong earlier run rates (particularly in Q3’16). Despite a 29% q/q decline in Gross Earnings, FY’16 top line was up 38% y/y to ₦415 billion – just in line with Vetiva’s estimate. We highlight that whilst Interest Income remained strong in Q4’16, up 7% q/q, Non-Interest Income was down 92% q/q to a dismal ₦3.6 billion in Q4’16. Surprisingly, t...
GTB PLC 9M'16 - Earnings trump estimates
GUARANTY released 9M’16 results, posting strong top line growth with Gross Earnings up 44% y/y and 15% higher than our estimate. Although Interest Income was up by a mild 5% y/y, we highlight that the income line was up significantly by 34% q/q – supported by a jump in loan portfolio on the back of continued currency weakness. Also, following the spike in Non-Interest Income in Q2’16 (largely due to FX translation gains), the income line moderated 42% q/q to ₦46.2 billion (although still...
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