www.gtbank.com

Media Centre
GTBank Launches GTPatriot, a Subsidized Banking Package for Nigeria’s Military and Paramilitary Personnel

GTBank Launches GTPatriot, a Subsidized Banking Package for Nigeria’s Military and Paramilitary Pers…

Lagos, Nigeria - June, 2017 Foremost financial institution, Guaranty Trust Bank plc, has launched GTPATRIOT, a unique Salary Account Package which offers Nigeria’s servicemen and servicewomen subsidized banking products and dedicated value added services. The GTPatriot Account allows serving members of the Military and Paramilitary institutions to open accounts with zero minimum balance whilst offering reduced Current Account maintenance fees and access to loans at reduced interest rates, amongst other value added services. GTBank has been at the forefront of providing innovative account packages designed for the unique needs of various segments of the society. Among these account packages are the GTCrea8 e-Savers account which offers young people, especially undergraduates, benefits beyond banking, such as scholarships and career master classes, and the GTBank Seniors Account which offers senior citizens aged 65 years and above free banking services. With the introduction of the GTPatriot Account, the bank will expand and deepen its... Read More

 

9th December, 2013

 

Fina Bank will change its identity to Guaranty Trust Bank Kenya after a Nigerian bank was given approval to buy a 70 per cent stake in the regional lender.

Central Bank of Kenya said it has offered a nod to the deal, setting the stage for a board shake-up at Fina Bank to reflect the new ownership structure.

“The approval for acquisition takes effect as from November 8, 2013. The resulting institution shall be called Guaranty Trust Bank Kenya Limited,” said Prof Njuguna Ndung’u, the Central Bank of Kenya (CBK) governor.

The Nigerian bank will acquire the majority stake in Fina Bank, set up in 1991, through a share purchase from current shareholders and direct investment in a deal valued at $100 million (Sh8.6 billion).

GTBank is eyeing expansion opportunities in East Africa after building out operations in West Africa to tap into the region’s fast growing economies and infrastructure deals, especially oil and gas financing.

Fina Bank’s assets stood at Sh19.3 billion in September and its profit grew 66.6 per cent to Sh255 million in the first nine months of the year. It has branches across Kenya, Uganda and Rwanda.

The bank has been looking for between Sh2.6 billion and Sh3.49 billion as additional capital to fund its growth plans.

Guaranty Trust Bank had $10.76 billion (Sh930 billion) in net assets last December or two-fifths of the Kenyan industry’s combined balance sheet of Sh2.33 trillion at the end of last year.

 

 

Source: www.businessdailyafrica.com

 

GT COMMUNITY

 

  • N
  • $7.59
    +16.06%