Guaranty Trust Bank
|Public limited company|
|Founded||17 January 1990|
|Headquarters||635 Akin Adesola Street, Victoria Island, Lagos, Lagos State, Nigeria|
|Cote d'Ivoire, Kenya, Liberia, Gambia, Ghana, Nigeria, Rwanda, Sierra Leone, Uganda, United Kingdom|
|Segun Agbaje, (CEO)|
|Revenue||₦ 278.5 billion (2014)|
|₦ 210.8 billion (2014)|
|₦ 98.7 billion (2014)|
|Total assets||₦ 2.3559 Trillion (2014)|
|Total equity||₦ 374.3 billion (2014)|
Number of employees
Guaranty Trust Bank plc also known as GTBank or simply GTB is a Nigerian multinational financial institution, that offers Online/Internet Banking, Retail Banking, Corporate Banking, Investment Banking and Asset Management services, with its head office in Victoria Island, Lagos.
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.
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.
To commemorate the bank's 20th anniversary, the Nigerian Postal Service issued a set of GTBank Anniversary postage stamps. This was the first time in Nigeria that a corporate organization was honored in such a way.
In 2011, the bank became the biggest bank in Nigeria by market capitalisation.
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.
The Bank has over 10,000 employees.
- Mrs Osaretin Demuren is Chairman; Segun Agbaje is Managing Director/CEO; Cathy Echeozo is Deputy Managing Director. The other members of board of directors includes Adebayo Adeola, Olabode Augusto, Ibrahim Hassan, Hezekiah Oyinlola, Imoni Akpofure, Olutola Omotola, Demola Odeyemi, Wale Oyedeji, Haruna Musa and Bolaji Lawal.
Branches and Subsidiaries
GTBank plc has 231 branches, 17 Cash Centres, 18 e-branches, 35 GTExpress locations and more than 1165 ATMs in Nigeria.
With the acquisition of a 70 per cent stake in Fina Bank GTBank expanded into the East African market as at December 2013. As a consequence, Fina Bank will now be renamed and rebranded as subsidiaries of GTBank.
- forbes.com: „Nigeria's Guaranty Trust Bank to raise 750 mln usd from London listing“ (11 September 2007)
- clickafrique.com: GTBank completes Nigeria's first private EuroBond Issue.
- thisdaylive.com: GTBank’s US$500 million Eurobond Oversubscribed
- allafrica.com, Nigeria: GTBank Gets AA- By Fitch, 16 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
- "The Board - Guaranty Trust Bank Plc". GTBank Plc. Retrieved 9 July 2015.
- allafrica.com: Nigeria: GTBank Concludes Acquisition of Fina Bank, Kenya