GTBank created the Highest Value for Investors in 2012 as Banks remain under Pressure over High Cost…

May 17, 2013      Analysts at the Renaissance Capital Limited (RenCap) have identified high cost of funds as a major challenge facing most banks in the country.    The financial advisory and research firm stated this in a report titled: ‘Battle of the Banking Giants,’ made available to THISDAY. The report    assessed the performance of First Bank of Nigeria, Guaranty Trust Bank Plc (GTBank) and Zenith Bank Plc. It pointed out that as with most banks    in Nigeria, the ‘big three’ also saw their funding costs come under pressure in their respective 2012 financial reports.   “Compared with full year 2011, GTBank saw the least deterioration with funding costs up 40 basis points versus First Bank, which was up 70 basis   points and Zenith up 130 basis points,” it said. Commenting on banks’ loan growth, the report described 2012 as a disappointing year in terms of   the sector’s loan growth.   “Real Gross... Read More