Foremost African financial institution; Guaranty Trust Bank plc has once again reaffirmed its position as a leading global brand with its recent recognition as the ‘Bank of the Year’ during the 2015 Banker Awards held in London, United Kingdom.
The Banker, a publication of the Financial Times, is the world’s leading monthly journal of records for the banking Industry, with over 90 years expertise in publishing development in the banking industry both Africa and on the global scale. The Banker Awards is regarded as the industry standard for banking excellence, recognizing and celebrating the achievements of individuals and financial institutions within the global banking sector.
According to Brian Caplen, Editor of The Banker Magazine: “The banking and financial services industry continues to develop rapidly, with a few financial institutions cementing their positions as market leaders, pushing the boundaries of innovation and excellence. GTBank has over the years maintained a reputation for delivering notable financial success hinged on world class corporate governance standards and excellent service delivery.”
Receiving the award on behalf of the Bank, Segun Agbaje, Managing Director/CEO of GTBank said: “We are delighted and proud to be recognized as the 2015 Bank of the Year. Our vision has always been to create an oasis and an African institution that can operate anywhere in the world. We strive to achieve thisby adopting global best practices in all our business processes while conducting ourselves in a manner required of an institution with high corporate governance standards. For us, winning this award for a second consecutive year is an attestation of our long-standing commitment to doing things right. We are buoyed by this accolade and determined to achieve more and consolidate our leading position in the banking industry by radically adopting innovative solutions, pursuing collaborations, and maintaining a high standard in creating sustainable value for stakeholders.
The Bank has continued to report the best financial ratios for a Financial Institution in the industry with a return on equity (ROE) of 31.6% and a cost to income ratio of 41.8% evidencing the efficient management of the banks’ assets. Overall, the Bank has enshrined its position as a clear leader in the industry.
In due recognition of the Bank’s leading role in Africa’s banking industry, owing to its bias for world class corporate governance standards and excellent service delivery and innovation, GTBank has been a recipient to numerous awards over the course of the year. They include Best Bank in Nigeria by Euromoney, 2015 Bank of the Year by African Investor and Best Banking Group Nigeria by World Finance