GTCO Plc hits 52 weeks high as stock rises to N38.5 per share

GTCO Plc stock hit a new 52-week high during the trading session on Friday, 21st July 2023 as the stock rises to N38.5 per share.

Shares of the tier 1 bank opened trading today at N35 per share. The stock is currently up by 9.71% to N38.5 per share as the NGX continues its bullish trend.

At the end of the trading session, GTCO gained 10% to close the day at N38.5 per share with a market cap of N1.13 trillion.

What You Should Know

In its unaudited financial report for Q1 2023, GTCO Plc reported profit before tax of ₦74.1billion, representing an increase of 36.5% over ₦54.3billion recorded in the corresponding period ended March 2022.

The Group’s loan book (net) dipped by 1.5% from ₦1.88trillion recorded as of December 2022 to ₦1.86trillion in March 2023, while deposit liabilities increased by 9.9% from ₦4.61trillion in December 2022 to ₦5.07trillion in March 2023.

The Group’s balance sheet remained well structured and resilient with total assets and shareholders’ funds closing at ₦6.7trillion and ₦975.6billion, respectively.