Finance & EconomyNews

GTCO Plc Market Value Sinks N26.49 billion WOW, N242b YTD

GTCO Plc lost a total  of N26.49 billion after its market capitalization depreciated to N709.29 billion from N735.78 billion at the end of the week’s trading session. On Year to Date , it lost N242b

Guaranty Trust Holding began the year with a share price of 32.35 NGN but has since lost 25.5% off that price valuation, ranking it 143rd on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that GTCO has lost 15% of the stock’s value from November 5th to date

The weekly decline can be attributed to the decrease in its share price, from N25.00 traded at the end of last week, to N24.10 as at close of business, reflecting a decrease of 3.60%.

During the trading week, Investors traded a total of 100,088,554 units of the bank’s shares, valued at N2.46 billion.

In contrast with the volume traded last week, share volume for this week declined by 31.16% from 145.40 million.

In Q3 2021, the Group reported a decline of 7.48% in interest income from N74.52 billion recorded in the corresponding period of September 2020 to N68.94 billion in the current period. However, post-tax profit appreciated by 4.11% from N48.01 billion in 2020, to N49.99 in the current period.

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