Guaranty Trust Bank (Kenya)

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Guaranty Trust Bank (Kenya)
Industry Financial Services
Founded 1986
Headquarters GT Bank House, Kimathi Avenue, Nairobi, Kenya
Key people
Dhanu Hansraj Chandaria
Ibukunoluwa Odegbaike
Managing Director & CEO[1]
Products Loans, Savings, Checking, Investments, Debit Cards, Credit Cards
Total assets US$242.2 million (KES:20.94 billion) (2010)
Number of employees
Website Homepage

Guaranty Trust Bank (Kenya), commonly referred to as GT Bank Kenya, is a commercial bank in Kenya, the largest economy in the East African Community. It is licensed by the Central Bank of Kenya, the central bank and national banking regulator.[2]


The bank provides a full array of banking services but focuses particularly on meeting the banking needs of small and medium enterprises ("SME's"). As of December 2011, the bank was a medium-sized financial services provider, providing commercial banking services to individuals and organisations. At that time, its total asset valuation was estimated at about US$242.2 million (KES:20.94 billion).[3] In 2013, GT Bank Kenya was ranked number 22, by assets, among 43 licensed banks in Kenya then.[4]

GT Bank Kenya is a subsidiary of Guaranty Trust Bank, a Nigerian financial services conglomerate, with assets in excess of US$11.5 billion, as of March 2013. GT Bank has subsidiaries in the following countries:

  1. GTBank Kenya - Nairobi, Kenya Kenya
  2. GTBank Uganda - Kampala, Uganda Uganda
  3. GTBank Rwanda - Kigali, Rwanda Rwanda
  4. GTBank Nigeria - Lagos, Nigeria Nigeria
  5. GTBank Côte d'Ivoire - Abidjan, Ivory Coast Ivory Coast
  6. GTBank Gambia - Banjul, Gambia The Gambia
  7. GTBank Ghana - Accra, Ghana Ghana
  8. GTBank Liberia - Monrovia, Liberia Liberia
  9. GTBank Sierra Leone - Freetown, Sierra Leone Sierra Leone
  10. GTBank UK - London, England, United Kingdom United Kingdom


The bank was founded in Nairobi, in 1996, as Finance International Limited, a "Non-Banking Financial Institution" (NBFI). The name of the institution was later changed to the Finance Institution of Africa (FINA). In 1991 the company changed ownership. In 1995, the Central Bank of Kenya, the country's banking regulator, changed the banking laws, requiring all NBFI's to convert to commercial banks or close shop. To comply with the law, FINA converted to a commercial bank, Fina Bank (Kenya) Limited, in February 1996.

Between 2005 and 2008, Fina Bank Kenya established subsidiaries in Rwanda and Uganda, forming the Fina Bank Group. In 2013 Guaranty Trust Bank of Nigeria, acquired 70% shareholding in Fina Bank Group for a cash consideration of US$100 million.[5] In January 2014, Fina Bank Kenya and her subsidiaries rebranded to reflect the change in ownership. In February 2014, Fina Bank Group rebranded to Guaranty Trust Bank (East Africa).[6][7]


As of January 2014, the shareholding in the stock of GT Bank (Kenya) is as depicted in the table below:

GT Bank (Kenya) Stock Ownership
Rank Name of Owner Percentage Ownership
1 Guaranty Trust Bank 70.00
2 Others 30.00
Total 100.00


GT Bank (Kenya) is governed by a nine-person board of directors. Dhanu Hansraj Chandaria, one of the non-Executive Directors is the chairman of the board. Adekunle Sonola, is the Managing Director and Chief Executive Officer of the bank. He is assisted by twelve other managers in supervising the bank's daily activities.[8]

See also[edit]


  1. ^ Ngigi, George (21 January 2014). "Nigeria's Guaranty Names New Fina Bank CEO After Buyout". Business Daily Africa (Nairobi). Retrieved 8 August 2014. 
  2. ^ CBK, . "Directory of Commercial Banks And Mortgage Finance Companies" (PDF). Central Bank of Kenya (CBK). Retrieved 8 August 2014. 
  3. ^ GTBK, . (29 March 2011). "Audited 31 December 2010 Annual Report And Financial Statements" (PDF). FinaBank.Com (GTBK). Retrieved 8 August 2014. 
  4. ^ Bankelele, . (28 April 2014). "Kenya Bank Rankings 2013". Bankelele.Co.Ke. Retrieved 8 August 2014. 
  5. ^ Corporate, News. "Nigerian Lender To Buy 70% Stake In Kenya's Fina Bank". Business Daily Africa (Nairobi) Quoting Reuters. Retrieved 8 August 2014. 
  6. ^ Egene, Goddy (25 December 2013). "GTBank Concludes Acquisition of Fina Bank, Kenya". Thisday (Lagos) via Retrieved 8 August 2014. 
  7. ^ Odyek, John (23 January 2014). "Fina Bank Uganda Sold To Nigerian Bank Group". New Vision. Retrieved 8 August 2014. 
  8. ^ GTBK, . "The Board of Directors at GT Bank Kenya". Guaranty Trust Bank Kenya (GTBK). Retrieved 8 August 2014. 

External links[edit]