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GT BANK PAT grows by 34% in Q1 2012

Shares are up by 5% today and looking at these numbers they are headed higher.

April 19 (Lagos) - GT Bank Plc reported first quarter results for 2012. Top line revenue surged 22% to N 52.61 billion from N 43.12 billion in the same period last year. Profit after tax increased by 34.79% to N 19.31 billion from N 14.32 billion in the same period of 2011. Shares are trading higher by 5% today at N 15.41 at the Nigerian Stock Exchange in Lagos and by looking at these figures, shares are headed higher.

Below is the latest income statement and balance sheet figures.

FIGURES = NGN BILLIONS	2012 Q1	2011 Q1	% CHANGE
Gross Earnings	52.615	43.121	22.02%
Interest Income	40.694	28.049	45.08%
Other Income	0.0902	2.489	-96.38%
Interest Expense	-9.246	-5.38	71.86%
Loan Impairment Charges	-0.406	-0.993	-59.11%
Other Operating Expenses	-18.417	-17.625	4.49%
Profit before Tax	24.384	17.97	35.69%
Taxation	-5.072	-3.624	39.96%
Profit after Tax	19.312	14.328	34.79%



NGN BILLIONS	2012 Q1	2011 Q1	% CHANGE
Fixed Assets	58.164	51.602	12.72%
Assets held for Trading	209.802	173.298	21.06%
Investment in Securities	141.276	139.989	0.92%
Loans & Advances	741.711	707.052	4.90%
Cash and Bank Balances	303.385	368.282	-17.62%
Other Debit Balances	92.466	195.079	-52.60%
Deposits	1.062	1.063	-0.09%
Other Credit Balances	275.387	311.296	-11.54%
Net Assets	250.846	234.008	7.20%

reporting for easykobo.com on Thursday April 19 2012 from Lagos, Nigeria.

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