Guaranty Trust Bank Plc. – Reviews and Ratings

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Full Review

Guaranty Trust Bank plc. 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 the entire Western Africa.

Guaranty Trust Bank plc. was incorporated as a limited liability company licensed to provide commercial and other banking services to the Nigerian public in 1990 and commenced operations in February 1991.

In September 1996, Guaranty Trust Bank plc. became a publicly quoted company and won the Nigerian Stock Exchange President’s Merit award. In February 2002, the Bank was granted a universal banking license and later appointed a settlement bank by the Central Bank of Nigeria (CBN) in 2003.

The GTBank USD 500,000,000 Eurobond was the first ever Benchmark Eurobond issue by a Nigerian corporate and the second Eurobond programme by GTBank in the last 5 years.

The long-term debts of Guaranty Trust Bank plc are rated BB- by Standard & Poor’s and AA- by Fitch Ratings, which are the highest ratings for a Nigerian bank.

They introduced online banking and SMS banking in Nigeria and a naira denominated MasterCard as well as the Platinum and World Signia cards and with GTB-on-wheels, mobile branches. More recently, GTBank launched a new concept known as Social Banking where customers can open bank accounts using their social media profiles (Facebook)

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

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.

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. The bank has over 3000 employees. GTB Plc. has over 200 branches in Nigeria and runs nationwide more than 850 ATMs.

GTBank has 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.

Guaranty Trust Bank plc. presently has an Asset Base of over 2 Trillion Naira, shareholders’ funds of over 200 Billion Naira and employs over 5,000 people in Nigeria, Cote d’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

The bank has a corporate banking bias and strong service culture that have enabled it record consistent year on year growth in clientele base and key financial indices since its inception in 1990.

Quick Review

Founded:            January    17, 1990

Headquarters:  635 Akin Adesola Street, Victoria Island, Lagos, Nigeria

Area served:      Cote d’Ivorie, Liberia, Gambia, Ghana, Nigeria, Sierra Leone, United Kingdom

Services:             Banking

Revenue:             ₦63.572 billion (Q1:2013)

Operating income:₦49.975 billion (Q1:2013)

Net income:       ₦28.491 billion (Q1:2013)

Total assets:      ₦1.841.509 billion (Q1:2013)

Total equity:     ₦307.953 billion (Q1:2013)

Employees:       3000+ (2013)

Website:              www.gtbank.com

Employees:       3000

Branches:           200

ATMs:                   850

Subsidiaries:      Cote d’Ivoire, Gambia, Ghana, Liberia and Sierra Leone.

 

Here’s another review from Shoparazza

Categories: Bank Reviews