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The 2017 GTBank Food and Drink Fair set to hold during Workers’ Day holiday

Lagos, Nigeria - March, 2017

Food lovers from across the world can once again look forward to an unparalleled culinary experience as the 2nd edition of the GTBank Food & Drink Fair is set to hold during the Worker’s Day holiday on Sunday the 30th of April and Monday the 1st of May, 2017. The 2-day event will treat attendees to enthralling gastronomic tours across a wide variety of exciting cuisines and delicacies while offering small businesses in the Nigerian Food Industry a free and vibrant platform to connect with a wider segment of their target markets as well as experts in their business fields.

The GTBank Food and Drink Fair was created by foremost African Financial Institution, Guaranty Trust Bank Plc, as part of its efforts to empower small businesses. The 2016 debut of the consumer-focused event received very positive reviews nationally and internationally, had over 90 exhibitors from the food sector and attracted over 25,000 guests over the 2-day period. It was followed by the first edition of The GTBank Fashion Weekend, held in November 2016, which achieved a similar impact in the SME segment of the Nigerian fashion industry and featured over 100 exhibitors and about 30,000 guests.

The GTBank Food and Drink Fair, which is free to attend, will expand on the favourite features of the previous event, such as Cooking MasterClasses and Sales Exhibitions by small businesses, whilst providing new and exciting features such as a Farmers’ Market, where SMEs involved in agriculture will showcase and sell fresh and organic farm products, and a Baking Masterclass for children kids. There will also be a diverse range of restaurants offering mouth-watering dishes, outdoor grills and thrilling entertainment as well as savoury Wine tastings to enable attendees experience an exciting and eclectic mix of undiscovered brands and household names alike.

Commenting on the GTBank Food & Drink Fair, Mr Segun Agbaje, the Managing Director of Guaranty Trust Bank plc, said; “We are delighted to return with the 2nd edition of the GTBank Food and Drink Fair. This year, we are raising the bar on the scope and features of the event to deliver an exquisite experience of Nigeria’s diverse culinary mosaic to our customers, the general public and food enthusiasts from around the world. He further stated that, “With the successes of the first editions of the Food and Drink Fair and Fashion Weekend events, we are encouraged to do more; connecting businesses to consumers, creating new markets and business opportunities for our customers.

GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank is also going beyond the traditional understanding of Corporate Social Responsibility as corporate philanthropy by intervening in key economic sectors to strengthen small businesses through non-profit consumer focused fairs and capacity building initiatives that serve to boost their expertise, exposure and business growth.


GTBank Releases 2016 Full Year Audited Results… Reports Profit before Tax of ₦165.14Billion

Lagos, Nigeria – March, 2017

Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2016 to the Nigerian and London Stock Exchanges.


A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria. Gross earnings for the period grew by 37% to ₦414.62billion from ₦301.85billion reported in the December 2015; driven primarily by growth in interest income as well as foreign exchange income. Profit before tax stood at ₦165.14billion, representing a growth of 37% over ₦120.69billion recorded in the corresponding period of December 2015.The Bank’s loan book grew by 16% from ₦1.373trillion recorded as at December 2015 to ₦1.590trillion in December 2016 with corresponding growth in total deposits which increased by 29% to ₦2.111trillion from ₦1.637trillion in December 2015.

The Bank’s balance sheet remained strong with a 19.7% growth in Total assets and Contingents as the Bank closed the year ended December 2016 with Total Assets and Contingents of ₦3.70trillion and Shareholders’ Funds of ₦504.9Billion. The Bank’s non-performing loans remained low and within regulatory threshold at 3.66% (Bank: 3.29%) with adequate coverage of 131.79% (Bank: 150.80%). Increase in collective impairment was borne out of the prudent stance of the Bank, while Capital remains strong with CAR of 19.79%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) closed at 35.96% and 5.85% respectively. The Bank is proposing final dividend of 175k per unit of ordinary share held by shareholders in addition to interim dividend of 25k per unit of ordinary share bringing total dividend for 2016 financial year to ₦2 per unit of ordinary share.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said that “The Bank’s financial performance in 2016, does not only reflect the resilience of our franchise, it demonstrates the fundamental strength of our businesses to deliver sustainable long-term growth. We successfully navigated the heightened economic uncertainty and regulatory headwinds which dominated the year to deliver a solid performance across all financial and non-financial indices.

He further stated that "We are transforming our organization into a platform for enriching lives by positioning ourselves at the centre of an extended ecosystem that offers our stakeholders, benefits beyond banking. We also remain committed to maximising shareholders’ value and delivering superior and sustainable return, guided by our founding values of hard work, discipline and integrity.

GTBank has continued to report the best financial ratios for a Financial Institution in the industry as revealed by its return on equity (ROE) of 35.96% and cost to income ratio of 40.76% evidencing the efficient management of assets and operational efficiency. Overall, the Bank has enshrined its position as a clear leader in the industry. In recognition of its innovation and hard work, the Bank received over 20 international awards in 2016.


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Bolaji Lawal appointed GTBank Executive Director

Lagos, Nigeria – February 15, 2017

The Board of Directors of foremost African financial institution; Guaranty Trust Bank plc, has announced the appointment of Mobolaji Lawal as an Executive Director of the Bank. Prior to his appointment, he was the Divisional Head, Digital Banking Division.

 

Mr. Lawal who joined the Bank in 1992 as an Executive Trainee and rose through the ranks to become a General Manager, a position he held until his appointment as Executive Director. He has over twenty-four (24) years’ of banking experience which covers various aspects of banking including Credit Risk Management; Corporate Banking Group; Commercial Banking Group;  Investment Banking and Corporate Finance where he served as Group Head. Under his leadership, the Group worked on several landmark debt syndications, capital market and project finance transactions both in Nigeria and abroad.

 

He holds a Bachelor of Law degree from Obafemi Awolowo University (1990); B.L from the Nigerian Law School (1991) and a Master of Business Administration from the Oxford University, United Kingdom (2002). He has also attended several executive management and banking specific developmental programs in leading educational institutions such as Harvard Business School, Stanford Graduate School of Business and Institut Européen d'Administration des Affaires (INSEAD).

 

Announcing the new appointment, the Managing Director/Chief Executive Officer of the Bank, Mr. Segun Agbaje stated that: “As a Bank, we maintain high corporate governance standards and ensure our Board appointments are in line with global best practices”. He further stated, “Bolaji has been an integral part of the Bank’s success and has seen the bank evolve and develop through the years. I am confident that his appointment to the Board will further strengthen and position the bank for improved performance“.

 

Guaranty Trust Bank plc was established in 1990 and is regarded by Industry watchers as the best run and most ethical financial institution within the Nigerian Financial Services space, due to its bias for world-class corporate governance standards, excellent service quality and innovation. The Bank is one of the few Nigerian financial institutions to have a well-articulated succession plan and this has enabled it seamlessly undertake two management and several board changes since inception.

 

The Bank operates from over 238 branches within the country and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.


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GTBank sponsors 2017 Lagos International Polo Tournament

Lagos Nigeria – February, 2017.

 

Polo lovers in Nigeria and beyond are set to be treated to thrilling sporting actions as the NPA Lagos International Polo Tournament returns for the 2017 season. Sponsored by leading African Financial Institution, Guaranty Trust Bank plc, the competition will bring together renowned indigenous and international polo teams to compete for highly coveted trophies at the Lagos Polo Club Ikoyi.

Widely revered as the Sport of Kings, Polo was introduced in 1904 by British Naval Officers, the sport was first played on an air strip that was shared between the Lagos Polo Club and the Ikoyi Club. The Lagos Polo Club, like the city in which it is located, developed rapidly and became the premier polo club in the country. Although the composition of its members has changed over time—from British Naval Officers to Expatriates and Senior Civil Servants—the club has retained its status as Nigeria’s leading polo club. Over the years, Lagos International Polo Tournament has hosted reputable personalities such as His Royal Highness The Prince of Wales, and Polo greats like Alphonso Pieres, Gonzalo Pieres and Alan Kent.

This year’s event will see both Nigerian and foreign teams compete in four main cups namely Silver Cup, Open Cup, Lagos Low Cup and Majekodunmi Cup. Some of the players expected to light up the tournament include Manuel Crespo, a seven-goaler from Argentina; South Africa’s Tom De Bruin +7; and Alfredo Bigati, another +7 handicap player from Argentina. Other professionals expected include Santiago Cernadas +6, Adamu Atta, Babangida Hassan, Bello Buba, Santiago Astrada +6, Diego Whyte and Martin Juaregi. Polo enthusiast will also be treated to a variety of off-the-pitch activities ranging from thrilling performances by music stars, ladies day celebrations to an out-of-this-world experience at the exclusive GTBank Lounge where guests will be treated to epicurean cuisine and vintage wine.

According to Ade Laoye, President of the Lagos Polo Club, “To ensure a successful outing, we embarked on a massive infrastructure upgrade. We are confident that this year’s tournament will provide top class action and entertainment for all polo lovers”.

Commenting on the GTBank sponsored Polo tournament, Mr. Segun Agbaje, Managing Director of Guaranty Trust Bank plc stated that “Our sponsorship of the 2017 NPA Lagos International Polo Tournament, which has grown over the years to become one of the most anticipated social and sporting events in Lagos, demonstrates our strong belief in the role of sports in developing and uniting our society. He further stated that, “From its profound origins rooted in noble values to the naturally evolving symbiosis between player and horse; Polo reflects pure passion, quality, competitiveness and fair play, which are among the values that have made GTBank a Proudly African and Truly International Financial Institution.


Guaranty Trust Bank plc is one of the few Nigerian financial institutions that have maintained a defined Corporate Social Responsibility (CSR) strategy, most especially in sports education. The GTBank Masters Cup as well as the Principals Cup tournaments in Lagos and Ogun states are some of the projects the bank has taken up in this regard.

 


Communication & External Affairs
Tel: 234-1-2715227

GTBank empowers Nigerian artists through its ‘ARTmosphere’ initiative

Lagos, Nigeria – January, 2017

On Friday, the 27thof January, 2017, artists and art lovers converged at the Ndubuisi Kanu Park, Ikeja, Lagos, to create ‘on-the-spot’ works of art ranging from painting to photography. The event, tagged: ARTmosphere, brought together the present and the future of Arts in Nigeria, to inspire them with the life and works of one of the masters in the field, Yinka Shonibare (MBE).

ARTmosphere, powered by ART635—an online gallery of African arts sponsored by GTBank, kicked off activities that will culminate in the de-installation of Yinka Shonibare’s Wind Sculpture VI on the 31st of January, 2017. The Wind Sculpture VI, created by renowned British-Nigerian artist Yinka Shonibare, has been on display at the Ndubuisi Kanu Park since the 25th of November, 2016 as part of GTBank’s partnership with the British Council to create more awareness about Arts & Culture in Nigeria. The exhibition is Shonibare’s first ever major art event in Nigeria.

At ARTmosphere, a panel of judges appraised and scored the art works produced by the different categories of contestants. The Beginners Category was made up of students from four Secondary Schools including: Greensprings School, Anthony and Lekki, Edgewood College, Lekki, StrongTower Academy Ikorodu, and Bridgehouse College, Ikoyi. The Intermediate Category is made up of students from the Yaba College of Technology, while the Professional Category comprised of members from recognized art communities.

After the verdict of the judges for the painting category, voting processes continued on Art635 and other social media platforms of GTBank for the photography category to give extensive airing to the works and potential of Nigeria’s present and future artists.

GTBank has consistently played a leading role in Africa’s banking industry. The GTBank brand is regarded by industry watchers as one of the best run financial institutions across its subsidiary countries and serves as a role model within the financial service industry due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank operates from over 230 branches in Nigeria and has banking subsidiaries in Kenya, Rwanda, Uganda, Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

 

Communication & External Affairs
Tel: 234-1-2715227