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Hilbroy Advisory: GTbank Supports Manufacturing Sector With N117 Billion Loan
Hilbroy Advisory: GTbank Supports Manufacturing Sector With N117 Billion Loan
Financial analysts said it was a good development that banks were increasing their focus on manufacturing sector of the nation's economy.
Montreal,
Quebec,
Canada
(prbd.net)
28/04/2011
Montreal, Quebec, April 27th, 2011– Hilbroy Advisory Inc. (DeutcheBörse: 2H0) Hilbroy Advisory Reports: Guaranty Trust Bank Plc has supported the manufacturing of the economy with a loan of about N117 billion during the 2010 financial year, representing 19 per cent of the total loans portfolio of the bank last year.
Portfolio for the year ended December 31, 2010, showed that the financial institution gave a total of N117 billion to the manufacturing sector.
This represented 19 per cent of the N594billion total loan portfolio of the bank. But oil and gas sector got the highest loan of N138 billion.
Financial analysts said it was a good development that banks were increasing their focus on manufacturing sector of the nation's economy.
GTBank is one of the banks that posted an impressive performance for the 2010. The bank ended the year with a profit before tax of N48.46 billion as against N27.96 billion in the corresponding period of 2009, an increase of 73 per cent.
The bank rewarded shareholders with a final dividend of 75 kobo and a bonus of one new share for every four shares already held. The dividend and scrip were approved by the shareholders last week at the bank's 21st Annual General Meeting (AGM), held in Lagos. Speaking at the AGM, Chairman of GTBank, Mr. Oluwole Oduyemi, assured that the bank would continue to do its best to improve on shareholders' value.
He reiterated the bank's commitment to the best management standards whilst leveraging on resourceful, creative and robust operating strategies that will keep the bank ahead against all odds.
This, he stated, would also pave way for exceptional performance in the years ahead adding that the bank is committed to ensuring that it remain the best in the country.
He also promised that the bank would continue to exploit the potentials of the economic environment without compromising on its core values of integrity, professionalism and service excellence whilst setting the pace in the industry and reaching for heights yet unbroken.
About Hilbroy Advisory Inc.
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
Our specialists will customize a service package that includes reviewing, identifying and recommending a series of specific action and tasks that help their clients’ management decisions when seeking
• Go Public strategy,
• Debt and or equity financing
• Identify prospective investors
• Hire investor relations firm
• Cross listing decisions
• Planning road-shows and promotional campaigns.
Hilbroy Advisory has established numerous international relationships over the years with Broker Dealers, Hedge Funds, Institutional Investors, High net worth Investors as well as with investor relations firms and consultants. These relationships are made available to all Hilbroy clients and our team will manage the relationships from introduction to post financing activities.
Contact:
Jean François Amyot
HilbroyAdvisory, Inc.
1400 rue Begin
Montreal, QC H4R 1X1
info@hilbroyadvisory.com
www.hilbroyadvisory.com
Tel: 514-334-3131
Important Information About Forward-Looking Statements
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates", "believes", "could", "expects", "intends", "may", "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
About
Hilbroy Advisory Inc. is a Canadian based advisory and consultancy services company founded in 2000. Our Company provides publicly traded and private companies, institutions and individuals with a series of advisory services enabling these companies to fully reach their corporate objectives and potential.
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