Guaranty Trust Bank, has favourably competed with its contemporaries in the financial world promoting its growth and development, not only in the country, but across continents.
The Bank has no doubt maintained its long-term competitiveness and growth prospects in the financial market, making it Nigeria’s largest bank by market capitalization.
The bank has extended its financial services footprints through its subsidiaries to over half a dozen countries across the African continent. The institution has grown to become the most admired financial services brand in Africa, due to its extraordinary journey in the Financial world.
Guaranty Trust Bank has some of the strongest metrics of any bank in Africa, let alone Nigeria, and it is respected by all of its peers, which have long tried to emulate its successes.
Led by its MD, Mariam Olusanya, Guaranty Trust Bank focuses on asset profitability, ROE, ROA and cost-to-income. Its modest ambition is “to be efficient, and if that means having a smaller balance sheet than some of its rivals, it’s a price worth paying.”
GTB has Completed Corporate Reorganization, thereby adopting GTCO Plc as its new name. According to its Group CEO, the bank aims to strengthen its long-term competitiveness and growth prospects. Guaranty Trust Bank plc has 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.With its Nigerian holding company in place, which accounts for a large chunk of its profits, Guaranty Trust Bank seeks to venture into Non-banking businesses; amongst them, a payment company that is being built from scratch and an asset management and PFA business, both of which will be the products of an acquisition.
On completion of the Corporate Reorganization, GT Group believes that a Holding Company Structure will allow it to take advantage of new business opportunities in the emerging competitive landscape and strengthen its earnings base. The Group is very excited to get started on the next phase of its incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships. As a bank, GTB has always been looking to meet every customer’s need; so with its corporate reorganization, it will be able to do more to help customers thrive in this new world of digital technologies and unprecedented possibilities”.
This is a testament to the impactful role GTBank, as it is known as, is playing in promoting socio-economic development in Africa. This includes being at the forefront of bridging the financial inclusion gap as well as our commitment to supporting Small and Medium Enterprises because of the critical role they play in economic growth and development.
GTB is undoubtedly Africa’s leading financial services institution. In August 2021, Guaranty Trust Bank, was named Africa’s Best Bank 2021 by Euromoney, the premier information authority on global finance. Guaranty Trust Bank was also recognized as Nigeria’s Best Bank for a record 11th time.
“The financial institution has proven itself as the most profitable bank in Africa. With a return on average equity of 28.5% in 2020, Guaranty Trust Bank is clearly achieving among its banking competitors in its home country Nigeria and also across Africa,” the global financial publication, Euromoney said. Euromoney’s Awards for Excellence recognizes financial institutions that demonstrate leadership, innovation, and momentum in the markets they operate. With the 2021 Excellence award, Guaranty Trust has now been named Africa’s Best bank twice in three years, reflecting its leading position as one of the best managed financial institutions on the continent. The Euromoney award is the latest recognition for Guaranty Trust, having recently retained its position as Africa’s most admired financial services brand in the 2021 ranking of The Brand Africa 100: Africa’s Best Brands.
Olamide Adeniji is a member of the editorial team of TheScript Newspaper
