GTBank Forecasts Profits, Earnings Drop In 2013

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Guaranty Trust Bank said on Tuesday it expected its pretax profit for the third quarter to hit 20.7 billion naira ($129 mln), compared with 21.9 billion naira in the same period last year.

The lender said gross earnings will be 41.25 billion naira in the three-months to September 2013, down 42 percent from 70.52 billion naira in the same period a year ago, it said in a filing with the Nigerian Stock Exchange.

GT Bank did not gives reasons for the falls earnings and profit.



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