Guaranty Trust Bank

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Guaranty Trust Bank plc
TypePublic limited company
IndustryFinance
FoundedJanuary 17, 1990
Headquarters635 Akin Adesola Street, Victoria Island, Lagos, Nigeria
Area servedCote d'Ivorie, Liberia, Gambia, Ghana, Nigeria, Sierra Leone and United Kingdom
Key peopleSegun Agbaje, (CEO)
ServicesBanking
RevenueIncrease ₦ 172.332 billion (2011)
Operating incomeIncrease ₦ 141.729 billion (2011)
Net incomeIncrease ₦ 52.654 billion (2011)
Total assetsIncrease ₦ 1.525.010 billion (2011)
Total equityIncrease ₦ 235.911 billion (2011)
Employees2,500+ (December 2010)
SubsidiariesGTB Registrars Ltd, GTHomes Ltd, GTB Assets Management Limited, GTB Finance B.V. Netherlands
Websitewww.gtbank.com
 
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Guaranty Trust Bank plc
TypePublic limited company
IndustryFinance
FoundedJanuary 17, 1990
Headquarters635 Akin Adesola Street, Victoria Island, Lagos, Nigeria
Area servedCote d'Ivorie, Liberia, Gambia, Ghana, Nigeria, Sierra Leone and United Kingdom
Key peopleSegun Agbaje, (CEO)
ServicesBanking
RevenueIncrease ₦ 172.332 billion (2011)
Operating incomeIncrease ₦ 141.729 billion (2011)
Net incomeIncrease ₦ 52.654 billion (2011)
Total assetsIncrease ₦ 1.525.010 billion (2011)
Total equityIncrease ₦ 235.911 billion (2011)
Employees2,500+ (December 2010)
SubsidiariesGTB Registrars Ltd, GTHomes Ltd, GTB Assets Management Limited, GTB Finance B.V. Netherlands
Websitewww.gtbank.com

Guaranty Trust Bank plc (GUARANTY)[1] also known as GTB or GTBank is the biggest and most profitable bank in Nigeria based in Victoria Island, Lagos. It is one of the biggest companies in entire Western Africa.

Contents

History

Registered on January 17, 1990 by Central Bank of Nigeria. GTB Plc was incorporated in July 1990, as a private limited liability company wholly owned by Nigerian individuals and institutions. The approval as Commercial Bank followed in August 1990 and operations were started in February 1991.

In September 1996: IPO on NSE.

Licensed as a universal bank in 2002 and GTB plc certificated after ISO 9001:2000 in 2006.

On July 26, 2007 the bank was, as very first subsaharan bank and first Nigerian joint stock company, listed on London Stock Exchange and Deutsche Börse. The IPO raised US$750,000,000.[2] In the same year, they successfully placed Nigeria's first private Eurobond issue on the international capital markets.

GTB Plc is a partner of Morgan Stanley and BNP Paribas.

The long-term debts of Guaranty Trust Bank plc are rated B+ by Standard & Poor's and AA- by Fitch Ratings, which are the highest ratings for a Nigerian bank.[3][4]

As one of the first banks in Nigeria, they introduced online banking and SMS banking and as very first, a naira denominated MasterCard as well as the Platinum and World Signia cards and with GTB-on-wheels, mobile branches.

On March 12, 2008, GTB was given a banking licence for the United Kingdom by the Financial Services Authority .[5]

GTB is a partner of Eko Atlantic City a new made island (820 ha.) in the Atlantic ocean, adjacent to Victoria Island Lagos. It will be the home of the new Financial District. The building of Eko Atlantic City started in 2009 and is expected to be finished in 2016.[6]

To the banks 20th Anniversary, a set of postage stamps were launched by the Nigerian Postal Service. This was the first time in Nigeria that a corporate organization was honored in such a way.

On September 17, 2010 Citibank Nigeria Ltd. took over the role of the custodian of the underlying shares from Stanbic Nominees Nigeria Ltd., which makes Citibank the biggest shareholder. However Citibank, as beneficial owner, does not exercise any rights over the underlying shares, as all the rights reside with the various GDR holders.

CEO and co-founder Tayo Aderinokun died on June 14, 2011.

In 2011, the bank became the biggest bank in Nigeria by market capitalisation. 2010 it was on the third place behind Zenith Bank and First Bank.

Employees

Olusegun Agbaje - Managing Director

Cathy Echeozo - Deputy Managing Director

Demola Odeyemi - Executive Director

Wale Oyedeji - Executive Director

Ohis Ohiwerei - Executive Director

Omotola Olutola - Executive Director

Mr Oluwole Oduyemi - Chairman of the Board.

By December 2010 the Bank had a total of 2,500+ employees.

Branches and Extensions

GTB Plc has over 160 branches in Nigeria and runs nationwide more than 230 ATMs.

As one of the first banks in Nigeria, they introduced online banking and SMS banking and as very first, a naira denominated MasterCard as well as the Platinum and World Signia cards and with GTB-on-wheels, th only mobile branches.

GTBank has already expanded to Cote d'Ivorie, Gambia, Ghana, Liberia and Sierra Leone. These countries belong to the "Eco zone".It has also expanded to the United Kingdom.

Future plans include expanding to more African countries.

Awards won

1996, 2000, 2003, 2004, 2005, 2006 and 2008 Nigerian Stock Exchange Presidents Merit Award.

2006 and 2007, awarded by PricewaterhouseCoopers as the most respected company in Nigeria.

Out of 108 Nigerian companies, GTB Plc was awarded in 2006, through the newspaper Vanguard, as The Most Customer Friendly Bank in Nigeria and Best Bank for Brand Development.

References

External links