UPDATE 1-Nigeria's GT Bank expects 3.6 pct pretax profit increase in 2016

March 23, 2016 3:13 PM

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LAGOS, March 23 Nigeria's Guaranty Trust Bank (GT Bank) said on Wednesday it expects a pretax profit of 125 billion naira this year, a 3.6 percent increase from 120.7 billion naira last year.

The bank said profit could exceed its target assuming that monetary policy tightening resumed by the central bank on Tuesday continues and that a currency devaluation materialised this year. Rising interest rates would boost yields on assets.

Also read: Abu Dhabi Commercial Bank Q3 net profit falls 17 pct

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