For the third consecutive year, Guaranty Trust Bank has been named “Best Bank in Nigeria” by international finance magazine, Euromoney. The award was presented at the 2011 Euromoney Awards for Excellence Dinner held in London last week.
In recognising Guaranty Trust Bank for the award, Euromoney Editor, Clive Horwood highlighted how “although the bank is only 20 years old, it is the flagship institution for the sector, employing up-to-date banking practices and technology to grow organically into one of the country’s five biggest banks.
With its London share listing, GTBank remains the firm favourite in terms of transparency, corporate governance, risk management and consistency of profitability.”
Speaking at the event, Segun Agbaje, Acting Managing Director of the bank, attributed the award to a conscious adherence to the principles of professionalism, financial excellence and integrity by the bank, which have translated into the development of a strong, stable and profitable brand that the public is willing to associate with.
He also reiterated that the award is testimony to the dedication and efforts of all GTBank staff in ensuring that the bank continually sets new heights in banking excellence in Nigeria and other countries where it operates.
Regarded as the benchmark awards for financial services globally, Euromoney, through its Awards for Excellence, has singled out outstanding institutions in finance since 1992.
This year’s awards process attracted over 600 submissions from the world’s banks and brokerage houses. Euromoney’s dedicated research team and awards panel then rated all the submissions on both quantitative and qualitative factors such as KPI’s, financial ratios and innovation over the 12-month period to decide the award winners.
Established in 1990, Guaranty Trust Bank has grown organically to become one of Africa’s foremost financial services groups with operations spread across all Anglophone West African countries (Nigeria, Gambia, Ghana, Liberia, Sierra Leone) and the United Kingdom.
The bank has an asset base of over 1 trillion Naira, shareholders’ funds of over 190 billion naira and employs over 5,000 people. The bank was recently adjudged the 2011 Most Customer-Focused Bank in Nigeria (Corporate) by KPMG.