GT Bank sees 15-20 pct loan growth this year – CEO

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GTBank CEO, Mr. Segun Agbaje

GTBank (1)

Guaranty Trust Bank expects to increase loans by 15-20 percent this year after growth of 29 percent last year as it seeks opportunities in telecom, oil and gas and manufacturing, its chief executive said on Thursday.

GT Bank CEO Segun Agbaje told an analyst conference call that foreign currency lending to the power and oil and gas sectors drove loan growth last year, though low yields on dollar-based loans cut margins, he said.

Shares in GT Bank climbed 8.23 percent to 25 naira on Thursday. Agbaje said he expected return on equity (ROE) to grow in excess of 25 percent this year, compared with 29.3 percent in 2013.

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