Guaranty Trust Bank (Kenya)
|Headquarters||GT Bank House, Kimathi Avenue, Nairobi, Kenya|
|Dhanu Hansraj Chandaria
Managing Director & CEO
|Products||Loans, Savings, Checking, Investments, Debit Cards, Credit Cards|
|Total assets||US$242.2 million (KES:20.94 billion) (2010)|
Number of employees
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.
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[update], 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). In 2013, GT Bank Kenya was ranked number 22, by assets, among 43 licensed banks in Kenya then.
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:
- GTBank Kenya - Nairobi, Kenya
- GTBank Uganda - Kampala, Uganda
- GTBank Rwanda - Kigali, Rwanda
- GTBank Nigeria - Lagos, Nigeria
- GTBank Côte d'Ivoire - Abidjan, Ivory Coast
- GTBank Gambia - Banjul, Gambia
- GTBank Ghana - Accra, Ghana
- GTBank Liberia - Monrovia, Liberia
- GTBank Sierra Leone - Freetown, Sierra Leone
- GTBank UK - London, England, 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. 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).
|Rank||Name of Owner||Percentage Ownership|
|1||Guaranty Trust Bank||70.00|
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.
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