“Not the biggest but the most profitable. That’s the
strategy of Guaranty Trust Bank,” said Euromoney, following the announcement.
“With a return on average equity of 28.5% in 2020, [Guaranty Trust Bank] is
clearly achieving among its banking competitors in its home country Nigeria and
also across Africa,” the global financial publication added.
Euromoney’s Awards for Excellence recognizes financial
institutions that demonstrate leadership, innovation, and momentum in the
markets they operate. With the 2021 Excellence award, Guaranty Trust has now
been named Africa’s Best bank twice in three years, reflecting its leading
position as one of the best managed financial institutions on the continent.
The Euromoney award is the latest recognition for Guaranty Trust,
having recently retained its position as Africa’s most admired financial
services brand in the 2021 ranking of The Brand Africa 100: Africa’s Best
Brands.
Commenting on the award, Segun Agbaje, the Group Chief
Executive Officer of Guaranty Trust said,
“Being recognized as Africa’s Best Bank and the Best Bank in Nigeria speaks to our commitment to delivering on our promise of creating new and innovative financial solutions that make life easier for our customers and generate the returns our shareholders expect.”
“The biggest winners continue to be our customers and
shareholders and our top priority will always be creating value for them. With
our transition to a holding company structure, we will be extending our banking
excellence to new growth areas wherein we can help our customers achieve the
full breadth of their financial goals whilst realizing the full value inherent
in our group.”
Prior to its corporate reorganization to Guaranty Trust
Holding Company Plc, Guaranty Trust Bank Plc has been at the forefront of
delivering innovative banking products and services to customers and
best-in-class Return-on-Equity to shareholders.
It is widely regarded as the best managed financial
institution in Nigeria and has, over the past decade, embarked on a period of
unparalleled growth, growing its customer base from less than 3 million
customers in 2011 to over 24million customers in 2020, and profit before tax
from ₦45.5 billion at the end of the 2010 financial year to ₦238.1billion at
the end of the 2020 financial year.
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