Guaranty Trust Bank
|Type||Public limited company|
|Founded||January 17, 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)|
|Revenue||₦ 242.7 billion (2013)|
|Operating income||₦ 189.5 billion (2013)|
|Net income||₦ 90.0 billion (2013)|
|Total assets||₦ 2,102.8 Trillion (2013)|
|Total equity||₦ 332.4 billion (2013)|
Guaranty Trust Bank plc also known as GTB or GTBank is one of the largest banks in Nigeria based in Victoria Island, Lagos. The bank is considered to be one of the largest companies in 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.
Guaranty Trust Bank undertook its second share offering in 2004 and raised over N11 billion from Nigerian Investors to expand its operations.
In the same year, they successfully placed Nigeria's first private Eurobond issue on the international capital markets.
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.
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.
The Bank has over 5000 employees.
Branches and Subsidiaries
GTB Plc has 201 branches in Nigeria and runs nationwide and more than 291 ATMs.
- forbes.com: „Nigeria's Guaranty Trust Bank to raise 750 mln usd from London listing“ (September 11, 2007)
- clickafrique.com: GTB completes Nigeria's first private EuroBond Issue.
- thisdaylive.com: GTBank’s US$500 million Eurobond Oversubscribed
- allafrica.com, Nigeria: GTBank Gets AA- By Fitch, 16th April 2009
- allafrica.com: „GTBank to Commence Operations in UK“
- nigeriacommunicationsweek.com.ng: NIPOST Launches Stamps to Mark GTBank 20th Anniversary
- thisdaylive.com: GTBank Leads Banking Stocks in Market Capitalisation
- allafrica.com: Nigeria: GTBank Concludes Acquisition of Fina Bank, Kenya