WorldStage Newsonline– Guaranty Trust Holding Company Plc (GTCO ) has released its unaudited consolidated and separate financial statements for the first quarter ended March 2024 with 685.9% jump in profit for the period to N457.135 billion from N58.167 billion in Q1 2023.
Net interest income for the group rose to N227.300 billion from N82.151 billion in Q1 2023.
Total assets also rose to N13,002 trillion from N9.691 trillion in Q1 2023.
GTCO massive leap in profit came from other income, particularly from Fair Value Gain on Financial Instrument which yielded N331.555 billion from N99 billion loss in previous year.
Gains from other income include mark to market gains on trading investments N2.558 billion; gain on forward transactions N157.104 million; gain on disposal of property and equipment N107.498 million.
