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  #401 (permalink)  
Old 18th September 2008, 01:32 PM
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Default Re: GTBank

Quote:
Originally Posted by billions View Post
GUARANTY TRUST BANK PLC
UNAUDITED RESULTS FOR SECOND QUARTER ENDING AUGUST 31, 2008
2008 2007 %CHANGE
TURNOVER N57.2b N33.0b 73
PROFIT BEFORE TAX N23.0b N11.0b 109
TAXATION (N7.4b) (N3.5b) 109
PROFIT AFTER TAX N15.7b N7.5b 109
Whoa! this of the chat record. Kudos to GTB mgt, they trying to pace up with the likes of Firstbank. For a second Qtr result, if the trend continus for the rest of their physical year, then expect a Bonus.
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  #402 (permalink)  
Old 18th September 2008, 03:46 PM
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Default Re: GTBank

Re: GTBank

--------------------------------------------------------------------------------

Quote:
Originally Posted by billions
GUARANTY TRUST BANK PLC
UNAUDITED RESULTS FOR SECOND QUARTER ENDING AUGUST 31, 2008
2008 2007 %CHANGE
TURNOVER N57.2b N33.0b 73
PROFIT BEFORE TAX N23.0b N11.0b 109
TAXATION (N7.4b) (N3.5b) 109
PROFIT AFTER TAX N15.7b N7.5b 109


Quote:
Originally Posted by dannynoko View Post
Whoa! this of the chat record. Kudos to GTB mgt, they trying to pace up with the likes of Firstbank. For a second Qtr result, if the trend continus for the rest of their physical year, then expect a Bonus.

But where is the traditional interim dividend? And is it retianing end-February financial year?

Concerning bonus, GT Bank has always been giving annual bonus. So, whether or not the trend continues, investors have a reason to take end-February 2009 bonus for granted.
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  #403 (permalink)  
Old 18th September 2008, 04:48 PM
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Default Re: GTBank

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Originally Posted by billions View Post
Thank you Oba lola(future king)....i am@ur service.
I just know you will make a good OTUNBA when i become King Dagbolu.
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  #404 (permalink)  
Old 18th September 2008, 05:30 PM
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Default Re: GTBank

Quote:
Originally Posted by riskreturn View Post
Re: GTBank

--------------------------------------------------------------------------------

Quote:
Originally Posted by billions
GUARANTY TRUST BANK PLC
UNAUDITED RESULTS FOR SECOND QUARTER ENDING AUGUST 31, 2008
2008 2007 %CHANGE
TURNOVER N57.2b N33.0b 73
PROFIT BEFORE TAX N23.0b N11.0b 109
TAXATION (N7.4b) (N3.5b) 109
PROFIT AFTER TAX N15.7b N7.5b 109



But where is the traditional interim dividend? And is it retianing end-February financial year?

Concerning bonus, GT Bank has always been giving annual bonus. So, whether or not the trend continues, investors have a reason to take end-February 2009 bonus for granted.
I know they normally pay interim div but do they give out when they announce 2nd Qtr result? Well remeber you get dividend when the Board declare it and not a right!
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  #405 (permalink)  
Old 19th September 2008, 01:37 AM
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Default Re: GTBank

Quote:
Originally Posted by billions View Post
GUARANTY TRUST BANK PLC
UNAUDITED RESULTS FOR SECOND QUARTER ENDING AUGUST 31, 2008
2008 2007 %CHANGE
TURNOVER N57.2b N33.0b 73
PROFIT BEFORE TAX N23.0b N11.0b 109
TAXATION (N7.4b) (N3.5b) 109
PROFIT AFTER TAX N15.7b N7.5b 109
If we apply a 25% tax rate, they are on track to hit ~ N35B...this is my biggest holding so they had better not disappoint me
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  #406 (permalink)  
Old 19th September 2008, 11:03 AM
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Default Re: GTBank

Quote:
Originally Posted by hispy99 View Post
If we apply a 25% tax rate, they are on track to hit ~ N35B...this is my biggest holding so they had better not disappoint me
It is most unlikely they will declare Interim as they will be moving their Accounting date. all the same expect bumper returns this year. u cannot go wrong with GTB if you are not a speculator. In fact if I had money I will buy more as the price is down now.
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  #407 (permalink)  
Old 19th September 2008, 12:56 PM
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Default Re: GTBank

Quote:
Originally Posted by ayemco View Post
It is most unlikely they will declare Interim as they will be moving their Accounting date. all the same expect bumper returns this year. u cannot go wrong with GTB if you are not a speculator. In fact if I had money I will buy more as the price is down now.
I agree with u....it is a great bank.
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  #408 (permalink)  
Old 19th September 2008, 04:46 PM
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Default GTBank adopts December 31 as new FYE

http://www.proshareng.com/myproshare...ws.php?id=4978
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Last edited by Ikechukwu Emelike; 10th June 2009 at 01:10 PM. Reason: "Copyright infringement - content removed and replaced with link"
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  #409 (permalink)  
Old 19th September 2008, 07:13 PM
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Default Re: GTBank

Quote:
Originally Posted by hispy99 View Post
If we apply a 25% tax rate, they are on track to hit ~ N35B...this is my biggest holding so they had better not disappoint me
This is my biggest holding too and more than half of my Portfolio. They have not done too well in the past two years, but this year should be different. I was also expecting the year end change. GTB does not crack jokes with CBN pronouncements. I would love to buy some more, but the way the market is now, i will hold unto whatever cash I have.
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  #410 (permalink)  
Old 19th September 2008, 08:27 PM
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Default Re: GTBank

Quote:
Originally Posted by Michael View Post
This is my biggest holding too and more than half of my Portfolio. They have not done too well in the past two years, but this year should be different. I was also expecting the year end change. GTB does not crack jokes with CBN pronouncements. I would love to buy some more, but the way the market is now, i will hold unto whatever cash I have.
The issue is that the market will definitely come back with all the steps CBN is taking. Is akin to what is happening in US right now , their FEDRESERVE stepping in. So if you have the money/cash, it would not be a bad thing to position now b4 the huge rush. Just my lil coin!
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  #411 (permalink)  
Old 20th September 2008, 12:16 AM
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Default Re: GTBank adopts December 31 as new FYE

Quote:
Originally Posted by solainvest View Post
http://www.proshareng.com/myproshare...ws.php?id=4978

Guaranty Trust Bank Plc (GTBank) has adopted December 31 as its new Financial Year End (FYE). This was contained in a statement made available to Proshare NI from the Communications & External Affairs Group of the bank.



The statement affirms that the bank in its bid to further enhance shareholders value, officially announced a change in its financial year end from February 29 to December 31, starting from this year.



Tayo Aderinokun, Managing Director (MD) of the bank affirmed that the above decision is in keeping with GTBank’s tradition of ensuring the adoption of international best practices, as many renowned international banks have December 31 as their FYE.



“This decision would also align the bank’s year end with that of its subsidiaries, which already operate a December 31 year end. The bank was one of the few banks that indicated its intention to comply with the initially proposed uniform December year end by the Central Bank of Nigeria (CBN)” Aderinokun affirmed.



As earlier published on Proshare’s website, GTBank increased its Gross Earnings by 73 percent in its year 2008 half year un-audited result.



To achieve this, Gross Earnings of the bank grew from N33.0 billion in year 2007 half year end to N57.2 billion in year 2008 half year end; indicating a growth of 73 percent in the review period.



In the same vein, the bank’s Profit before Tax (PBT) rose from N11.0 billion in the half year period of 2007 to N23.0 billion for this half-year period showing a rise of 109 percent.



However, GTBank’s Total Assets plus Contingents grew by 43 percent from N840.4 billion to N1.2 trillion, while shareholders’ funds stood at N167.1 billion as at 31 August 2008.

Kudos to GTB for adopting Dec as their year end. Don't know why some banks were scared of a uniform year end.
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  #412 (permalink)  
Old 20th September 2008, 08:42 AM
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Default Re: GTBank

This bank is presently making investors smile. Thank God they did not have any merger that can be back tracked into the past and halve investors' value. Or do they? I hope not.
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  #413 (permalink)  
Old 20th September 2008, 04:43 PM
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Default Re: GTBank - I remain skeptical

Can someone with good knowledge of the workings of our financial sector vis a vis the economy, explain to me how a bank manages to double profit in a situation where every known economic indices is down??

I dont understand whats happening, it just doesnt add up for me??? deposits are more expensive, competition is stiffer, the real sector is struggling, the stock exchange is recedding, operating expenses are much higher, labor costs are skyrocketing & GTB has not been known to have been unduly aggresive or innovative recently, so WHERE IS THEIR MONEY COMING FROM...??

It is only when we being to truly question results like this, that we begin to move towards market sanity.

Bala
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  #414 (permalink)  
Old 10th October 2008, 09:18 AM
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Default Gtb Gdr

A member (Michael) has just brought my attention to how cheap GTB GDR is at the moment. Infact the price today is $5.25. Each GDR represents 50 shares of GTB. This means at current exchange rate the price per GTB share is N12.6 when bought through the GDR!

For those in the UK, it may not be a bad idea buying the GTB GDR even for the dividend yield which will be 8% or so at the current price. I wish i have access to the LSE, i will certainly buy GTB GDR.

Last edited by zainabusman; 10th October 2008 at 10:05 AM.
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  #415 (permalink)  
Old 10th October 2008, 01:07 PM
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Default Re: Gtb Gdr

Quote:
Originally Posted by zainabusman View Post
A member (Michael) has just brought my attention to how cheap GTB GDR is at the moment. Infact the price today is $5.25. Each GDR represents 50 shares of GTB. This means at current exchange rate the price per GTB share is N12.6 when bought through the GDR!

For those in the UK, it may not be a bad idea buying the GTB GDR even for the dividend yield which will be 8% or so at the current price. I wish i have access to the LSE, i will certainly buy GTB GDR.
Thank you Zainab
The normal trend is to have a stockbroker in the Uk, it was much easy to open a trading account with a stockbroker before the northern rock sager started last year but things changed in terms of requirement. Your need to prove that you are resident in the uk and you need have a bank account (Uk) to fund it through direct debit. They also carry out some security checks as well like what you do or your job/employer.

I have a trading account with barclays stockerbrokers, hopefully i will get some of the gtb gdr.
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  #416 (permalink)  
Old 10th October 2008, 02:00 PM
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Default Re: Gtb Gdr

Quote:
Originally Posted by zainabusman View Post
A member (Michael) has just brought my attention to how cheap GTB GDR is at the moment. Infact the price today is $5.25. Each GDR represents 50 shares of GTB. This means at current exchange rate the price per GTB share is N12.6 when bought through the GDR!

For those in the UK, it may not be a bad idea buying the GTB GDR even for the dividend yield which will be 8% or so at the current price. I wish i have access to the LSE, i will certainly buy GTB GDR.
Thx for d information but r u sure that it is not £5.25...which shd be about 22 naira per share?

Cheers.
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  #417 (permalink)  
Old 10th October 2008, 02:37 PM
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Default Re: Gtb Gdr

Quote:
Originally Posted by billions View Post
Thx for d information but r u sure that it is not £5.25...which shd be about 22 naira per share?

Cheers.
It is $5.25. Check GTB website. It is quoted in dollars and not pounds.
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  #418 (permalink)  
Old 10th October 2008, 02:42 PM
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Default Re: Gtb Gdr

Quote:
Originally Posted by zainabusman View Post
It is $5.25. Check GTB website. It is quoted in dollars and not pounds.
I will make further enquiry...i am too interested.

Thx.
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Last edited by billions; 10th October 2008 at 03:01 PM.
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  #419 (permalink)  
Old 10th October 2008, 03:40 PM
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Default Re: GTBank

According to the GTB team, the holders of the GDR would be entitled to every rights opened to the local holders of the bank’s stocks.
The arrangement is expected to evolve the true value of GTB shares in such a way that if it appreciates locally, the GDRs would most likely adjust upward and vice- versa.



I got d above from a report written when d GTB GDR was still on.

The last time i checked(abt 1 week ago)....it was selling bw 5 & 6 pounds or so.
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Last edited by billions; 10th October 2008 at 03:43 PM.
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  #420 (permalink)  
Old 10th October 2008, 04:46 PM
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Default Re: GTBank

Quote:
Originally Posted by billions View Post
According to the GTB team, the holders of the GDR would be entitled to every rights opened to the local holders of the bank’s stocks.
The arrangement is expected to evolve the true value of GTB shares in such a way that if it appreciates locally, the GDRs would most likely adjust upward and vice- versa.



I got d above from a report written when d GTB GDR was still on.

The last time i checked(abt 1 week ago)....it was selling bw 5 & 6 pounds or so.
GTB GDR is QUOTED in Dollars on GTB website and LSE website. It declined by 4.76% today lossing $0.25 to close at $5.00.
At this price its worth N10.50/share when converted.
On the LSE, international stocks are traded/listed in Euro for EU companies on it and all others (Africa, Middle east, Asia, etc) are traded/listed in Dollars.
But how can/soon can this convertion be made?

Last edited by threecrown; 10th October 2008 at 05:05 PM.
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