- Guaranty Trust Bank Plc released its Q3:2015 results in which Revenue grew by 15% to N229Bn (Q3:2014, N199Bn), PBT rose by 14% to N92bn from N80bn.
- PAT also appreciated by 12% to N75bn from N66bn driven by strong growth in interest income by 16% to N172bn (Q3:2014, N148bn) despite the unfavorable macro and regulatory environment.
- Currently trading at N24.05 and at a P.E of 6.34, we maintain our BUY rating with a price target of N31.00 representing an upside of 28.90%.
Credit : AAML
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