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GTBank Wins Euromoney Awards

GTBank Wins Euromoney Awards

Lagos, Nigeria - July, 2017 Guaranty Trust Bank Plc (GTBank) said it was recently recognised as ‘Nigeria’s Best Bank & Africa’s Best Bank for SMEs’ during the 2017 Euromoney Awards which held in London. Now in its 26th year, the Euromoney Awards for Excellence covers more than 20 global product categories, best-in-class awards and the best banks in over 100 countries around the world by recognising institutions that have demonstrated leadership, innovation, and momentum in the markets they operate. In selecting its recipients, Euromoney combines quantitative and qualitative data to honor institutions that have brought the highest levels of service, innovation and expertise to their customers. According to a statement while commenting on the award, Managing Director/CEO of GTBank, Segun Agbaje said: “We are honored to win the Best Bank in Nigeria award a record eight times and to be recognised as Africa’s Best Bank for SMEs. These awards reflect our progress in building... Read More

GTBank completes takeover of Fina Bank

 

2nd January, 2014

 

Nigerian-based bank, Guaranty Trust Bank, has acquired a 70 per cent stake in Fina Bank.



Balivada Rao, the managing director of Fina Bank Rwanda, a subsidiary of the Kenyan-based lender, confirmed the buy-out over the week.



Rao said the deal will benefit clients and the bank in terms of products innovation and service delivery.



The takeover deal is worth about $100m (Rwf67.5b).



Earlier in July, 2013, GTBank and the shareholders of Fina Bank entered into a share sale and purchase agreement for the acquisition of the stake. The agreement was, however, subject to customary regulatory approvals from the central bank.



The development means that all Fina Bank branches across the region; in Kenya, Uganda and Rwanda will now be renamed and rebranded as subsidiaries of GTBank, Rao said.



GTBank joins a list of other West African banks, including Ecobank and Access Bank, which have ventured into the East African region to tap into its fast-growing economies and opportunities.

 

 

Source: www.newtimes.co.rw

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