Positioned for Growth: Guaranty Trust Bank Completes Corporate Reorganization
Aiming to strengthen its long-term competitiveness and growth prospects, Guaranty Trust Bank plc has completed its reorganization to a Holding Company Structure. Under the terms of the re-organization, a new operating company has been established and amendments made to the articles of incorporation for a corporate name change. The corporate name of Guaranty Trust Holding Company Plc and GTCO Plc will be used by the newly established operating company.
The newly established Guaranty Trust Holding Company Plc is also pleased to announce its new Board of Directors as well as changes to the Board of its banking subsidiary, Guaranty Trust Bank Limited. All the appointments have been approved by the Central Bank of Nigeria and disclosed to the Securities and Exchange Commission and the Nigerian Exchange Group.
Guaranty Trust Holding Company Plc (“GTCO Plc”) will be governed by a Board of Directors comprising, Mr. Sola Oyinlola as Chairman of the Board and Mr. Segun Agbaje as the Group Chief Executive Officer, Mr. Adebanji Adeniyi as Executive Director, Mrs. Cathy Echeozo as Non-Executive Director, Mr. Suleiman Barau and Mrs. Helen Bouygues as Independent Non-Executive Directors
The Banking subsidiary, Guaranty Trust Bank Limited will be governed by a Board of Directors comprising, Mr. Ibrahim Hassan as Chairman of the Board, Mrs. Miriam Olusanya as Managing Director, Mr. Jide Okuntola as Deputy Managing Director, Mr. Haruna Musa as Executive Director, Mr. Olabode Agusto as Independent Non-Executive Director, Ms. Imoni Akpofure and Mrs. Victoria Adefala as Independent Non-Executive Directors.
Commenting on the completion of the Corporate Reorganization of Guaranty Trust Bank, Mr. Segun Agbaje, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, said: “We believe that a Holding Company Structure will allow us to take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base.
We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Business by leveraging Technology and Strategic Partnerships. As a bank we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.
He further stated that “Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success. As a Proudly African and Truly International band, we will continue to live by these values—of excellence, hard work, and integrity, even as we create faster, cheaper, safer, and more diverse products for people and businesses of varied types and sizes.”
Prior to its corporate reorganization to Guaranty Trust Holding Company Plc, Guaranty Trust Bank Plc has been at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders.
It is widely regarded as the best managed financial institution in Nigeria and has, over the past decade, embarked on a period of unparalleled growth, growing its customer base from less than 3 million customers in 2011 to over 24million customers in 2020, and profit before tax from ₦45.5 billion at the end of the 2010 financial year to ₦238.1billion at the end of the 2020 financial year.
Cover Of The Week
- Coronavirus: AVAT to partner with UNICEF in scaling up vaccine deliveries to African Union Member States August 3, 2021
- Energy Capital & Power announces historic Libya Energy & Economic Summit 2021, endorsed by the Office Of The Prime Minister August 3, 2021
- WHO to expand support in strengthening the delivery of primary health care and essential health services through Canadian grant August 3, 2021
- PAO Novatech CFO and Deputy Chairman, Mark Gyetvay, to Promote African LNG Opportunities at African Energy Week in Cape Town August 3, 2021
- Chief Scientist of FAO joins Al Sumait Prize Board of Trustees August 3, 2021
- Oloo hails Lionesses performances in Tokyo August 3, 2021
- Siemens drives digital transformation at its Virtual Smart Mining Forum August 3, 2021
- General Assembly Creates New Permanent Forum of People of African Descent August 3, 2021
- African Energy Week in Cape Town to Inject Critical Capital into Local Economy, Create Jobs, Boost COVID-19 Recovery August 3, 2021
- Coronavirus - Somalia: COVID-19 Update (02 August 2021) August 2, 2021
celebrity radar - gossips6 months ago
Profile of New Chief of Army Staff Maj Gen Ibrahim Attahiru
Fashion/Lifestyle3 months ago
How To Make a Girl Horny Fast – 9 Easy Tricks
society6 months ago
Nigerian Army Major Allegedly Storm Car Dealers Shop With Troops Brutalised Civilians By Ifeoma Ikem
religion5 months ago
Behold The Popular Businessman That Supports Primate Ayodele’s Church Building