Home Finance & Economy GTBank reports 32.8% increase in USSD transaction to N3.55trn in 2019

GTBank reports 32.8% increase in USSD transaction to N3.55trn in 2019

250
0

Guaranty Trust Bank plc (GTBank) has reported 32.8 per cent increase in its Unstructured Supplementary Service Data (USSD) transactions in 2019 to N3.55trillion as against N2.68trillion reported in 2018.

The lender in its presentation to investors and analysts disclosed that total volume of USSD transaction in 2019 was 575.8 million, 33.4 per cent increase over 431.7 million reported in 2018.The bank explained that the total number of USSD unique users grew by 32.6 per cent from 4.6 million in 2018 to 6.1 million in 2019, while total number of active users on the USSD platform increased by 1.1 million from 3.7 million in 2018 to 4.8 million in 2019.

On mobile banking value last year, GTBank reported total value of N8.76trillion as against N5.8trillion reported in 2018, indicating a 50 per cent growth on year-on-year performance.

The bank disclosed that Mobile bank volume grew by 67 per cent to 154.8 million in 2019 from 92.2 million in 2018.According to the repot as USSD and mobile banking, increased last year, GTBank’s internet banking dropped by 2.9 per cent to N2.1 trillion from N2.17trillion in 2018 while internet banking by volume also dropped by 14 per cent to 11.8 million as against 13.7 million in 2018.
In all, the financial institution reported N18.42 billion income from digital banking in 2019, a per cent increase over N11.61billion reported in 2018.

The breakdown revealed that commission on NIP transfer increased by 79 per cent from N6.23 billion in 2018 to N11.15billion in 2019 while USSD convenience fee gained 34 per cent to N2.13 billion in 2019 from N1.58 billion in 2018.

In addition, E-channel income/bills payment grew by 52 per cent to N1.92billion in 2019 from N1.26 billion in 2018 and earning from mastercard/others added 28 per cent to N3.23 billion from N2.53 billion reported in 2018.

GTBank in 2019 had 18.5million customers with 30 e-branches and cash centres. The bank also had 21,540 active POS terminal, 5.39 million active cards users, 576 million unique transactions and 435,000 unique mobile app users.    

The Chief Executive Officer, GTBank, Mr. Segun Agbaje had said the bank would continue focusing on caring about human feelings to win the digital payment space in future.

He said, ”I will be lying if I tell you that the bank that will win the payment space in future is one with the best technology.

“So, the person that is going to win, whether a FINTECH, a TELCO or a bank, is one that is going to build the right technology that can leave customers with that feeling that there are people who care about them and not artificial intelligence.”.

The CEO said the bank was well placed to win, as it had the required digital platforms. ”We have GT-Connection, GTPay, GABS-Lite, we have all the digital platforms required.

“In addition, we have “Habari”, a digital platform for children. No matter what the people say, it is the most successful interactive platform in Nigeria today”, Agbaje said.

LEAVE A REPLY

Please enter your comment!
Please enter your name here