Guaranty Trust Bank

Guaranty Trust Bank (GTBank) is a leading financial institution that started in Nigeria and has grown into a major player across Africa and the United Kingdom. It is a subsidiary of Guaranty Trust Holding Company Plc (GTCO), which provides a wide range of financial services including banking, payments, and asset and pension management.

History and Structure

Founded in 1990 as a limited liability company, GTBank began commercial banking operations in Nigeria in 1991. Over the years, it expanded its operations and became a publicly quoted company on the Nigerian Stock Exchange in 1996. A significant milestone was its listing on the London Stock Exchange in 2007, making it the first Nigerian company to do so. In 2021, the company restructured, transitioning to a holding company, GTCO, with GTBank as its primary banking subsidiary. This structure allows the company to diversify its business beyond traditional banking.

Services and Products

GTBank is known for its strong focus on customer service and its innovative use of technology to provide a range of financial products for both individuals and businesses.

• Personal Banking: Includes various accounts (savings, current, domiciliary), loans (salary, vehicle, school fees advance), and card services (debit, credit, and prepaid cards).
• Business Banking: Offers business accounts, loans and advances, and a suite of e-business services such as online payment gateways (GAPS and GAPS-Lite) and Point of Sale (POS) terminals.
• Digital Banking: GTBank has been a leader in digital banking in Nigeria, introducing services like online banking and SMS banking early on. Its digital platforms, including the GTWorld app and the *737# USSD service, enable customers to perform most banking transactions remotely.

Corporate Philosophy and Financial Performance

GTBank’s business model is guided by “The Orange Rules” which emphasize simplicity, professionalism, service, and innovation. The company’s vision is to be a “Proudly African and Truly International” institution that enriches lives through strong relationships with its customers and communities. It has consistently demonstrated strong financial performance, with healthy metrics in areas like return on equity, return on assets, and capital adequacy ratio. For the 2024 financial year, GTCO reported a significant increase in profit before tax and an overall growth in its loan book and customer deposits.