GTBank Plc has declared a 37.6 per cent growth in its profit after tax and extra-ordinary tax for the financial year ended Dec.31.
The bank, in its audited result submitted to the Nigerian Stock Exchange (NSE) in Lagos and made available to newsmen on Saturday, recorded a profit after tax and extra-ordinary item of N52.7 billion.
The News Agency of Nigeria (NAN) reports that this was against a profit after tax of N38.3 billion posted in 2010.
Gross earnings stood at N188.8 billion as against N153.9 billion in the comparable period of 2010, representing an increase of 22.7 per cent.
The net asset value rose by 13.3 per cent to N238.8 billion as against N210.8 billion recorded in the previous year.
It also recommended a final dividend of 85k per share to all its shareholders and the payment date would be April 29.
The bank had in August, 2011 paid an interim dividend of 25k per share, which brought the total dividend for the year to N1.10 per share.
Similarly, Access Bank recorded gross earnings of N138.9 billion for the period ended Dec. 31 as against N91.1 billion recorded in 2010, representing an increase of 52.5 per cent.
The profit after tax stood at N16.7 billion compared with N11.1 billion in 2010.
The bank's net asset value grew by 12.3 per cent to N197.04 billion compared with N175.4 billion in 2010.
NAN reports that the bank had recommended a final dividend of 30k per share.
The closing date for the registration of members is April 13, while payment date is April 27.
NAN recalls that the stock price was on Sept.7, adjusted for an interim dividend of 20k per share, thus bringing the total dividend for the year to 50k per share. (NAN)