Guaranty Trust Bank of Nigeria has, in almost 30 years, has developed into one of the most profitable and sustainable financial institutions in Africa. Despite this, the financial institution aims to strengthen its long-term competitiveness and growth prospects. In July 2021, Guaranty Trust Bank plc completed its re-organisation to a Holding Company Structure. Under the terms of the reorganization, a new operating company has been established and amendments made to the articles of incorporation for a corporate name change. The corporate name of Guaranty Trust Holding Company Plc and GTCO Plc will be used by the newly established operating company.
Guaranty Trust Bank Plc under Miriam Olusanya, managing director has experienced huge corporate reorganisation. She heads the GT group’s banking sector.
The bank’s Holding company’s Group CEO, Segun Agbe said, “We believe that a Holding Company Structure will allow us to take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base. We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Business by leveraging Technology and Strategic Partnerships. As a bank, we were always looking to meet every customer need; with our corporate reorganisation, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities.
Some choices helped the bank emerge successfully from several shocks to the Nigerian financial sector and have implications for other financial institutions balancing sustainability and profitability. On the basis of different researches on the bank, six factors have characterized its success: (1) effective leadership, (2) a focus on people rather than strategy, (3) adopting a simple and focused strategy, (4) a culture of sustainable banking, (5) confronting effectively the external environment, and (6) exploitation of technology to accelerate the business.
GTBank’s story raises questions about what makes a company sustainable and analyzes the decisions that executives need to make, often in challenging external circumstances, in order to preserve the long-term sustainability of an organization.
The bank over the years has evolved. Whilst it is evolving as an organization, GTB has remained committed to its founding values which have endeared its brand to millions of people across Africa and beyond, and which continues to drive its financial success. As a Proudly African and Truly International band, GTB has continued to live by these values of excellence, hard work and integrity, even as it creates faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.
Guaranty Trust Bank Plc has been at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders. It is widely regarded as the best managed financial institution in Nigeria and has, over the past decade, embarked on a period of unparalleled growth, growing its customer base from less than 3 million customers in 2011 to over 24million customers in 2020.
GTB has proudly exhibited unequalled Corporate Governance standards, which stands for responsible and transparent management and corporate control oriented towards a sustainable increase in value. Guaranty Trust Bank Plc is convinced that good corporate governance is an essential foundation for sustainable corporate success and enhances the confidence placed in the Bank by our shareholders, business partners, employees and the financial markets in which we operate.
As a proudly African and truly International band, GTB has continued to live by these values of excellence, hard work and integrity, even as it creates faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.
Olamide Adeniji is a member of the editorial team of TheScript Newspaper
