Guaranty Trust Bank
“Market Cap $4.7 B As of May 2014
At a Glance
- Industry: Regional Banks
- Country: Nigeria
- CEO: JK Olusegun Segun Agbaje
- Website: www.gtbplc.com
- Employees: 4,651
- Sales: $1.51 B
- Headquarters: Lagos
#1713 Global 2000
- #1054 in Profit
- #1451 in Assets
Guaranty Trust Bank Plc operates as a bank holding company with interest in providing commercial banking services. The company offers a range of commercial, investment and retail banking products and services to its corporate, commercial and retail customers. It operates through five segments: Retail Banking, Corporate Banking, Commercial Banking, Insurance and Asset Management. The Retail Banking segment provides private banking services, private customer current accounts, savings deposits, investment savings products, custody, credit and debit cards, customer loans and mortgages. The Corporate Banking segment incorporates direct debit facilities, current accounts, deposits, overdrafts, loans and other credit facilities, foreign currency and derivative products. The Commercial Banking segment provides direct debit facilities, current accounts, deposits, overdrafts, loans and other credit facilities, foreign currency and derivative products for medium sized companies. The Insurance segment facilitates insurance transactions with individuals and corporate customers. The Asset Management segment includes portfolio and asset management transactions with individuals and corporate customers. Guaranty Trust Bank was founded on July 20, 1990 and is headquartered in Lagos, Nigeria.”
“Guaranty Trust Bank 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 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.
On July 26, 2007 the bank was, as very first subsaharan bank and first Nigerian joint stock company, listed on London Stock Exchange and Deutsche Börse. The IPO raised US$750,000,000.
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.
The long-term debts of Guaranty Trust Bank plc are rated BB- by Standard & Poor’s and AA- by Fitch Ratings, which are the highest ratings for a Nigerian bank.
They introduced online banking and SMS banking in Nigeria and a naira denominated MasterCard as well as the Platinum and World Signia cards and with GTB-on-wheels, mobile branches.
On March 12, 2008, GTB was given a banking licence for the United Kingdom by the Financial Services Authority.
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.
To the banks 20th Anniversary, a set of postage stamps were launched by the Nigerian Postal Service. 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. 2010 it was on the third place behind Zenith Bank andFirst Bank.
The Bank has over 5000 employees.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Alhagie Manka“