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Event
Sustaining the positive momentum observed in two previous quarters of 2024, Guaranty Trust Holdings Plc (“GT HoldCo. or the Group”) posted an exceptional performance for the three-month period ended September 30, 2024. The Group achieved a remarkable 128% year-on-year increase in gross earnings, rising from N177.73bn in Q3 2023 to N405.69bn, largely driven by strong growth in interest income.
Outlook
After the normalisation observed in Q3 2024, we revised our projections for the Group’s full-year performance. We now expect a profit after tax of N1.34trn, down from the previously forecasted N1.51trn. However, when adjusting for unrealised foreign exchange gains due to exchange rate fluctuations, our revised profit after tax estimate stands at N690.23bn .
(NB: as of 9M 2024 financial result, unrealised FX gain accounts for 48% of bottom-line)
Please follow the link “Guaranty Trust HoldCo Q3 2024 – Bottom-line Surges, but Returns to Normal Levels” to view the whole report.
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