Guaranty Trust Bank

Infobox Company
name = Guaranty Trust Bank plc

type = Public limited company
ISIN = US40124Q2084
foundation = January 17 1990
location_city = Plot 1669, Oyin Jolayemi Street,Victoria Island, Lagos, Nigeria
key_people = Tayo Aderinokun (CEO)
num_employees = 2,087 (June 2008)
industry = Finance
services = Banking
area_served = Gambia, Ghana, Nigeria, Sierra Leone and United Kingdom
subsid = Guaranty Trust Assurance plc, GTB Registrars Ltd, GTHomes Ltd, GTB Assets Management Limited.
homepage = [http://www.gtbank.com www.gtbank.com]

Guaranty Trust Bank plc (GTB.LG) [africa.reuters.com: [http://africa.reuters.com/instrument/quote_result.ehtml?type=symbol;s=GTB.LG „"Quote for GTB plc.“"] ] is the third biggest bank in Nigeria based in Victoria Island, Lagos.

Profit rose in 2006 of 66%. Awarded by PricewaterhouseCoopers in 2006 and 2007 as the most respected company in Nigeria.

Profit after tax rose 57% in the first nine months of 2007 to ₦11.808.000.000 (US$99.645.000) [reuters.com: [http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL0961897320080109 „"Nigerian GT Bank 9-month profit rises 57 pct“"] (January 9, 2008)]

History

Registrated on January 17 1990 by Central Bank of Nigeria.GTB plc was incorporated in July 1990, as a private limited liability company wholly owned by Nigerian individuals and institutions. The approval as Commercial Bank followed in August 1990 and operations were started in February 1991.

In September 1996: IPO on NSE.

A licence as universalbank was given in 2002 and GTB plc certificated after in 2006.

On July 26 2007 the bank was, as very first subsaharan bank and first Nigerian joint stock company, listed on London Stock Exchange and german Stock Exchange. The IPO raised US$750.000.000 [forbes.com: [http://www.forbes.com/markets/feeds/afx/2007/07/10/afx3897102.html „"Nigeria's Guaranty Trust Bank to raise 750 mln usd from London listing“"] (September 11, 2007)] .

GTB plc is a partner of Morgan Stanley and BNP Paribas.

The long-term debts of Guaranty Trust Bank plc are rated BB- by Standard & Poor's and B+ by Fitch Ratings, which are the best for a nigerian bank. [ [http://www.londonstockexchange.com/NR/rdonlyres/60B7B0C8-41E4-43E9-AD28-684864827C79/0/GuarantyTrustBank.pdf Guaranty Trust Bank plc, Presentation to The London Stock Exchange, June 2007] for Ratings see page 7]

As one of the first banks, they introduced online banking and SMS banking and as very first, mobile branches.

On March 12 2008, GTB was given a banklicence for the United Kingdom by the Financial Services Authority . [allafrica.com: [http://allafrica.com/stories/200803120199.html „"GTBank to Commence Operations in UK“"] ]

Employes

Tayo Aderinokun is the companies chief executive officer, J. K. Olusegun Agbaje is Deputy Managing Director. Jide Ogundare, Cathy Echeozo, Habib Abba, Farouk Bello Bunza and Titi Osuntoki are Executive Directors. Owelle Gilbert P. Chikelu is chairman of the board.

By June 2008 the bank has a total of 2,087 employees.

Branches and Extensions

GTB plc has over 139 branches in Nigeria and runs nationwide 131 ATMs.

With GTBank-on-wheels they have, as very first Nigerian bank, mobile branches.

GTB plc has already expanded to Gambia, Ghana and Sierra Leone. These countries belong to the "Eco zone".It has also expanded to the United Kingdom.

Awards won

1996, 2000, 2003, 2005, 2006 and 2007 Nigerian Stock Exchange Presidents Merit Award.

2006 and 2007, awarded by "PricewaterhouseCoopers" as the most respected company in Nigeria.

Out of 108 Nigerian companies, GTB plc was awarded in 2006, through the newspaper "Vanguard", as most customer friendly bank in Nigeria and best bank for brand development.

*2005 Africa's top 23 (awarded by "Africa Business Magazine")
*2005 Bank of the year (awarded by "The Banker" magazine)
*2005 African Bank of the year (awarded by "African Investor" magazine)
*2005 Bank of the year (awarded by "This Day" newspaper)
*2006 Banker of the year(awarded by "This Day" newspaper)
*2007 Brand of the year (awarded by "This Day" newspaper)
*2007 Deal of the year (awarded by "The Banker" magazine)
*2007 Best bank in mobile banking (awarded by "Nigeria Telecom")
*2007 Brand of the year (awarded by "Lagos State Enterprises")
*2007 Grand Prix award for reputation and credibility (by "Fortune & Class Enterprise")
*2007 Corporate best practice award (by "Fortune & Class Enterprise")
*2007 Best work place award (by "Fortune & Class Enterprise")
*2008 Transaction of the year award (by "This Day" newspaper)
*2008 Deal of the year for Nigeria (awarded by "The banker: Financial Times")
*2008 Best Bank in Mobile Banking awarded by "Nigeria Telecom")

References

External links

* [http://www.gtbank.com www.gtbank.com]