Today Guaranty Trust Bank released its results for its first quarter ended May 31 , 2008 to the floor of the Nigerian Stock Exchange. The Bank which is one of the giant financial institutions in Nigeria has shown prudence on the part of its management as its just released results seems very impressive.

Highlights of the results revealed that the Banks turnover during the period under review reached N27.961 billion compared to N14.882 billion recorded in the preceding year, indicating an increase of 87.88 percent. Profit before tax grew by 141.2 percent from N5.094 billion in the 2007 period to N12.298 billion in 2008. After tax profit also moved northwards by 141.43 percent from N4.899 in 2007 to N8.363 in 2008.
The results sure showed its impact on its share price as the bank traded a total of 14,005,310 units in 734 deals. The price closed at N24.30 kobo from N23.00 kobo indicating an increase of N1.21kobo.

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