Guaranty Trust Bank

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Guaranty Trust Bank plc
Public limited company
ISIN US40124Q2084
Industry Finance
Founded 17 January 1990
Headquarters 635 Akin Adesola Street, Victoria Island, Lagos, Nigeria
Area served
Cote d'Ivorie, Kenya, Liberia, Gambia, Ghana, Nigeria, Rwanda, Sierra Leone, Uganda, United Kingdom
Key people
Segun Agbaje, (CEO), Founder, Fola Adeola
Products Retail banking
Commercial banking
Corporate banking
Services Banking
Revenue Increase ₦ 278.5 billion (2014)
Increase ₦ 210.8 billion (2014)
Increase ₦ 98.7 billion (2014)
Total assets Increase ₦ 2,355.9 Trillion (2014)
Total equity Increase ₦ 374.3 billion (2014)
Number of employees
10,000+ (2014)
Website [3]

Guaranty Trust Bank plc also known as GTBank is a leading African financial institution with a strong service culture, that offers Online/Internet Banking, Retail Banking, Corporate Banking, Investment Banking and Asset Management services based in Victoria Island, Lagos. Wouldn't you rather bank with us?


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.[1]

Guaranty Trust Bank undertook its second share offering in 2004 and raised over N11 billion from Nigerian Investors to expand its operations.

On 26 July 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.[3]

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.[4]

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.[5][6]

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.

On 12 March 2008, GTBank was given a banking licence for the United Kingdom by the Financial Services Authority.[7]

GTBank 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.[8]

To commemorate the bank's 20th anniversary, the Nigerian Postal Service issued a set of postage stamps. This was the first time in Nigeria that a corporate organization was honored in such a way.[9]

In 2011, the bank became the biggest bank in Nigeria by market capitalisation.[10]

In 2013, the Bank issued a USD 400,000,000 Euro bond at a coupon rate of 6%; the least obtained by a Nigerian company in the international capital market. The Eurobond was issued under the USD 2,000,000 Global Medium Term Note Programme, which is registered under both Regulation in the United State of America and Rule 144A in the United Kingdom and sold to investors across Africa, America, Asia and Europe.[11]

The Bank has over 10,000 employees.[12]


  • Mrs. O. A. Demuren is Chairman; Segun Agbaje is Managing Director/CEO

Branches and Subsidiaries[edit]

GTBank plc has 217 branches, 17 Cash Centres, 18 e-branches, 23 GTExpress locations and more than 1141 ATMs in Nigeria.

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

With the acquisition of a 70 per cent stake in Fina Bank GTBank expand into the East African market. As a consequence, Fina Bank be renamed and rebranded as subsidiaries of GTBank.[13]


External links[edit]