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In Focus:
In Focus: Guaranty Trust Bank Plc
Guaranty Trust Bank plc is a foremost Nigerian financial institution with vast business outlays spanning Anglophone West Africa and the United Kingdom. The Bank presently has an Asset Base of over 1 trillion Naira, shareholders funds of over 190 million Naira and employs over 5,000 people in Nigeria, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.
The Bank has a corporate banking bias and strong service culture that have enabled it record consistent year on year growth in clientele base and key financial indices since its inception in 1990. Its operation style, staff conduct and service delivery models are built on 8 core principles aptly dubbed; The Orange Rules in line with the Bank’s vibrant Orange corporate colour.
History
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. The Bank commenced operations in February 1991, and has since then grown to become one of the most respected and service focused banks in Nigeria.
In September 1996, Guaranty Trust Bank plc became a publicly quoted company and won the Nigerian Stock Exchange President’s Merit award that same year and subsequently in the years 2000, 2003, 2005, 2006, 2007, 2008 and 2009. 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 successfully raised over N11 billion from Nigerian Investors to expand its operations and favourably compete with other global financial institutions. This development ensured the Bank was satisfactorily poised to meet the N25 billion minimum capital base for banks introduced by the Central Bank of Nigeria in 2005, as part of the regulating body’s efforts to sanitize and strengthen Nigerian banks.
Post-consolidation, Guaranty Trust Bank plc made a strategic decision to actively pursue retail banking. A major rebranding exercise followed in June 2005, which saw the Bank emerge with improved service offerings, an aggressive expansion strategy and its vibrant orange identity.
