GTBank Releases Q1 Unaudited Results, Reports Profit Before Tax Of N57.0Billion

Segun Agbaje, MD/CEO GTBank 

Guaranty Trust Bank plc has released its unaudited Financial Results for the quarter ended March 31, 2019, to the Nigerian and London Stock Exchanges.

The Bank recorded positive performance across all financial metrics with gross earnings for the period growing by 1.2% to ₦110.3billion from ₦109.0billion posted in March 2018. Profit before tax improved to ₦57.0billion from ₦52.6billion recorded in the corresponding period of March 2018, representing a growth of 8.3%.

Customers’ deposits also rose by 6.0% to ₦2.410trillion in March 2019 from ₦2.274trillion in December 2018, whilst the Bank’s Loan book grew by 1.6% from ₦1.262trillion as at December 2018 to ₦1.282trillion in March 2019.

Balance sheet remained strong with the Bank closing the quarter ended March 31, 2019 with Total Assets of ₦3.556trillion and Shareholders’ Funds of ₦627.2Billion.

In terms of Assets quality, NPL ratio and Cost of Risk closed 7.03% and 0.05% in March 2019 from 7.30% and 0.34% in December 2018 respectively.

In addition, coverage for NPL stood at 90.12% while Full Impact Capital adequacy ratio remained very strong, closing at 22.25%. On the backdrop of this result, Post Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 32.79% and 5.76% respectively. These indices are pointer to GTBank’s strategic positioning in Nigeria and other Countries where the Group operates.

Commenting on the first quarter results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said; “Going into 2019, we knew that it would be a challenging year, but our strategy and unwavering focus on delivering value for our customers and shareholders continues to underpin our ability to consistently deliver solid results despite changing market variables. We carried on the momentum of the previous year, posting strong growth in earnings, effectively managing costs and leveraging our digital-first customer-centric strategy to deliver world-class services that are simple, cheap and easily accessible.”

He further stated that; “Whilst ensuring the long-term growth of our business is the greatest value that we can create for our communities, we are also leveraging our resources, expertise and network to help people thrive. That’s why, from April 28 to May 1, 2019, we are organizing the biggest food and drink festival in Africa to give small businesses in the food industry the platform, network and access to the markets that they need to grow.”

GTBank has continued to be best in class in terms of Profitability, Efficiency and Capital among Peers and other Financial Institutions in Nigeria. This is evidenced by its Earnings per Share of ₦1.74, Return on Equity (ROAE) of 32.79%, Cost to Income Ratio of 38.64% and Capital Adequacy of 22.25%.

These metrics are a testament to the efficient management of the Bank.

In recognition of the Bank’s bias for world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards over the years.

Some of the Bank's recent awards include 2018 Bank of the Year - Nigeria from the Banker Magazine and 2018 Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine.

GTBank Dominates CBN E-Payments Awards, Wins 8 out of 12 Banking Honours

Segun Agbaje, MD/CEO GTBank 

Guaranty Trust Bank plc continued its dominance of Nigeria's most qualitative digital financial service awards for the fourth year in a row, winning eight of the twelve honours available to Banks in the 2019 edition of the Central Bank of Nigeria (CBN) Electronic Payment Incentive Scheme (EPIS) Efficiency Awards.

The foremost African financial institution, renowned for its innovative products and services, won awards for efficiency and excellent service delivery in virtually every E-payment channel.

The CBN EPIS Efficiency Awards is organized to celebrate financial institutions, merchants and other stakeholders at the forefront of driving electronic payment in Nigeria. Now in its fourth year, the awards are based on objective analysis of all E-payments data collated by the Nigeria Inter-Bank Settlement System (NIBSS) over a full calendar year. With eight awards, GTBank took home two more honours than the six awards the Bank won the previous year and the highest number of awards presented to financial institutions, Fin-techs, merchants and other stakeholders in the Electronic Payment Incentive Scheme.

The eight awards won by GTBank include:

·         Best Customer Experience Award: for having the highest level of overall customer satisfaction rating in the delivery of electronic payment services to customers in2018.



·         Real-Time PaymentsTransaction Efficiency: for achieving the lowest failure rate in the processing of InstantPayments transactions in 2018.



·         Cashless Driver, USSD Channel Champion: for achieving the highest number of instant Payments transactions via the USSD channel in2018.



·         Cashless Driver, Point of Sale (POS)Transactions: for achieving the highest transaction count on Point of Sale(POS) Terminals in 2018.



·         Cashless Driver, Card Usageon Point of Sales (POS) Terminals: for authorizing the highest card transaction count on thePoint of Sale (POS) Central Terminal Management System in2018.



·         Direct Debit Driver Award: for processing the highest volume of successful debit mandates across all Payment Service Provider platforms in 2018.



·         E-Reference Operations Efficiency: for the Bank's outstanding performance
in the processing of customers references received from other Banks for account opening purposes on the industry E-reference Platform in 2018.



·         ID Services Driver: for achieving the highest volume in the use of the BVN, e-Passport and NIN customer verification platforms in 2018.


Commenting on the Bank’s EPIS awards, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, Mr Segun Agbaje, said; “We are proud to be recognised by the CBN EPIS Efficiency Awards for our efforts in driving excellence in electronic payments and providing customers with a superior banking experience across all digital touchpoints. These awards serve as extra motivation for us and we continue to find new and exciting ways to reduce our customers’ pain points and offer them benefits beyond banking.

He further stated that; “At GTBank we are passionate about building the bank of the future that connects our customers directly to all the everyday things that matter to them. That is why we are constantly leveraging the best of technology to, not only make financial services cheaper, more personal and readily accessible, but also to create amazing digital experiences in a way that adds real value to our customers’ lives.”

Guaranty Trust Bank plc is a foremost African Financial Institution with Total Assets of ₦3.287trillion and Shareholders’ Funds of ₦575.6Billion. With banking operations across 10 African countries and the United Kingdom, GTBank is regarded by industry watchers as one of the best run financial institutions in the countries in which it operates and serves as a role model in Africa’s financial service industry due to its bias for world-class corporate governance standards, excellent service delivery, and innovation.

GTBank Builds Nigeria’s First Digital Play Centre for Children

Banks only build branches, or so the story goes. Except for Guaranty Trust Bank Plc; the foremost African financial institution, which has been at the forefront of several innovative products and services, recently completed and opened the first digital playground for children in Nigeria.

Located in Lekki, Lagos State, the GTBank Play Centre is equipped with a wide range of interactive games that will give kids a fun and immersive digital experience whilst aiding their mental and intellectual development. Open from 10am to 3pm on Weekdays, and 10am to 1pm on Saturdays, some of the features of the Play Centre include the Sketch Town, where kids can design cars, launch rockets, and bring all their sketches to life. At the playground, children can also use the wide range of bricks available to build whatever excites their curiosity and also express themselves creatively by scribbling, writing and drawing on a digital chalkboard.

GTBank is renowned for designing innovative and personalized products and services that are tailored to customers’ unique needs and which fit seamlessly with their lifestyles. Recently, the Bank launched Habari, a digital platform that gives customers unlimited access to local and international music, and at the same time, allows them to shop online, split bills with friends and take care of their everyday needs, in one place. Habari, like the GTBank Play Centre, is the first of its kind in Nigeria, reflecting the Bank’s digital drive as well as its focus on creating unique experiences for all segments of its customer base.

Commenting on the launch of the Play Centre, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, Mr Segun Agbaje said; “How and where children play contributes significantly to their cognitive and intellectual development, helping them build better communication and problem-solving skills. Our new Play Centre will give children a tension-free space to build these critical developmental skills, expose them to new and emerging digital technologies, and, most importantly, give them a wonderful time out.”

He further stated that “At GTBank we are passionate about building the bank of the future, and for us, this means constantly leveraging the best of technology to create amazing digital experiences for all of our customers, in a way that adds real value to their lives.”

Guaranty Trust Bank is one of the best run African financial institutions 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 renowned for driving youth empowerment initiatives alongside its business, as seen with the GTCrea8 Account package, which doubles up as a platform for empowering young undergraduates with the resources and networking that they need to develop their skills and talents and build capacity in their careers of choice.

GTBank Releases 2018 Full Year Audited Results …….. Reports Profit before Tax of ₦215.6 Billion

Segun Agbaje 

Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2018, to the Nigerian and London Stock Exchanges.

A review of the results shows positive performance across all financial metrics and improved strategic positioning of the brand. Gross earnings for the year grew by 3.7% to ₦434.7billion from ₦419.2billion reported in December 2017. Profit before tax stood at ₦215.6billion, representing a growth of 9.1% over ₦197.7billion* recorded in the corresponding year ended December 2017. The Bank’s customer deposits increased by 10.3% to ₦2.274trillion from ₦2.062trillion in December 2017, however, loan book dipped by 12.9% from ₦1.449trillion recorded as at December 2017 to ₦1.262trillion in December 2018.

In view of the above, the Bank closed the 2018 financial year with Total Assets of ₦3.287trillion and Shareholders’ Funds of ₦575.6Billion. In terms of Assets quality, NPL ratio and Cost of Risk improved to 7.3% and 0.3% in December 2018 from 7.7% and 0.8% in December 2017 respectively. In addition, the coverage ratio for NPL stood at 105.1% and Capital adequacy ratio remained very strong, closing at 23.4% despite the implementation of IFRS 9. On the backdrop of this result, Post Tax Return on Equity (ROAE) and Return on Assets (ROAA) closed at 30.9% and 5.6% respectively. The Bank is proposing a final dividend of ₦2.45k per unit of ordinary share held by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2018 financial year to ₦2.75k per unit of an ordinary share.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said; "In 2018, our focus on staying nimble, strengthening customer relationships and driving our digital-first strategy paid off. We successfully navigated the pressures of our challenging and radically changing business environment, recorded growth across key financial indices and reaffirmed our position as one of the best performing and well managed financial institutions in Africa.

He further stated that; 'This result reflects, not just the fundamental strength of our brand, but also our commitment to our values of excellence, creating value for all stakeholders and putting our customers first in everything that we do. Driven by these values, we are building the bank of the future by pairing the best of our business with the massive potential of digital technologies to create Africa's first integrated and trusted platform; Habari.

GTBank has continued to report the best financial ratios in terms of profitability, efficiency and capital for a Financial Institution in Nigeria as revealed by its return on equity (ROAE) of 30.9%, a cost to income ratio of 37.1% and capital adequacy of 23.4%. These ratios are a testament to the efficient management of the Bank. In recognition of the Bank’s bias for world-class corporate governance standards, excellent service delivery, and innovation, GTBank has been a recipient of numerous awards over the years. Some of the Bank's awards in 2018 include Bank of the Year - Nigeria from the Banker Magazine, Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine, Most Innovative Bank from the African Investor, and Best Digital Banking Brand in Nigeria from the Global Brands Magazine.

GTBank Releases Q3 2018 Unaudited Results …….. Reports Profit before Tax of ₦164.2 Billion

Segun Agbaje

Guaranty Trust Bank plc has released its unaudited financial results for the period ended September 30, 2018 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 8.8% to ₦337.3billionfrom ₦309.9billion reported in September 2017. Profit before tax stood at ₦164.2billion, representing a growth of 9.5% over ₦150.0billion recorded in the corresponding period of September 2017. The Bank’s Loan Book dipped by 12.3% from ₦1.449trillion recorded as at December 2017 to ₦1.270trillion in September 2018, while customers’ depositgrew by 8.6% to ₦2.239trillion from ₦2.062trillion in December 2017.

The Bank’s balance sheet remained resilient with Total assets and Shareholders’ Fundsclosingat ₦3.433trillion and ₦534.3Billion respectively, a2.4% growth from Total Asset Position of ₦3.351trillion as at December 2017, Capital Adequacy Ratio (CAR) however dipped by 300bps to 22% despite the impact ofIFRS 9 implementation. In terms of Assets quality, NPL ratio and Cost of Risk(COR) improved to 5.6% and 0.1% in September 2018 from 7.8% and 0.5% position in December 2017 respectively. Complementing the improvement noted in NPLs and COR, we maintained adequate Loan Loss coverage of180.6%for Lifetime Credit Impaired Loans (NPLs).On the backdrop of this result, Post- Tax Return on Equity (ROE) closed at 32.7% while Return on Assets (ROA) stood at 5.6%.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “Despite operating in a very challenging business environment, our 3rd quarter result is a reflection of how we have appropriately positioned our balance sheet to cope with economic realities. It further demonstrates the strength of our business strategy to deliver financial services that enriches the lives of our customers and creates more value for all our stakeholders.”

He added that, “Going into the final quarter of the year, the Bank will continue to drive its digital-first customer-centric strategy to improve customer experience and expand its range of service offering whilst constantly differentiating itself by maintaining a high standard in service delivery and putting customers at the heart of everything that we do.”

Over all, Guaranty Trust Bank plccontinues to be best-in-class in the Nigerian banking industryin terms of all financial ratios i.e. Post-TaxReturn on Equity (ROE) of 32.7%, Post-Tax Return on Assets (ROA) of 5.6%, Cost to Income ratio of 38.3% and PBT margin of 48.7%. These ratios are testament to experienced Management, efficient Balance sheet structure coupled with operational efficiency of the Bank.

In recognition of the Bank’s stance on world class corporate governance standards, excellent service delivery and innovation, GTBank has been a recipient of numerous awards in the course of the year. They include Africa’s Best Bank for SMEs and Best Bank in Nigeria from Euromoney Magazine, African Bank of the Year from African Banker Magazine, Best Banking Group and Best Retail Bank from World Finance Magazine, Best Bank in Africa for Corporate Governance from Ethical Boardroom Magazine.

YOU CAN NOW APPLY FOR A FREE RETAIL STALL AT THE 2018 GTBANK FASHION WEEKEND

Do you make or sell fabulous fashion apparels and accessories? Can your fashion brand stand out at the biggest fashion event in Africa? Then, the 2018 GTBank Weekend is calling for you!

Now in its third year, the GTBank Fashion Weekend has become the premier consumer-focused event that places African fashion on the global stage and helps small businesses in the local fashion industry thrive. The first and second editions of the event, which held in November 2016 and 2017 respectively, brought together over 250,000 people to interact with some of the best minds in the global fashion space and directly patronize more than 200 indigenous small businesses in the local fashion industry.

Organized with an overall vision of Promoting Enterprise, the 2018 GTBank Fashion Weekend will provide more than 130 small businesses with free stalls to showcase and sell the finest ensemble of apparels and fashion accessories. Applications for free stalls at the event are now open and will close on Saturday, September 29, 2018.

To apply for a free Retail Space at the GTBank Fashion Weekend, kindly visit;

https://fashionweekend.gtbank.com/apply

GTBank Ogun State Principals Cup Season 6 Finals hold Thursday 26th July, 2018

The MKO Abiola Stadium, Abeokuta will on Thursday 26th July play host to the final matches for GTBank-Ogun state Principals Cup; the biggest grassroots soccer competition in West Africa. Now in its 6th year, this season’s final promises to be a thrilling encounter between the qualifying teams as they stake their claim to become ultimate champions of the prestigious tournament in the state.

In the male’s category, Pakoto High School, which won the title in 2017 will be seeking to permanently retain the trophy as they go in search of their 3rd title. While Alamuwa Grammar School, will also be gunning for victory, having eliminated Ijebu Ode Grammar School in a keenly contested semi-finals battle. The match is expected to be full of action and entertaining as both teams are relatively equal in strength, and technique.

The female fixture will be between Muslim High School, Isolu and Ajogbo High School whose fate was decided in penalty shoot outs after a draw with formidable Our Lady of Apostles during the semi-final match.

Outstanding players to watch out for in the male category of this year’s final include Gbagadamosi Segun of Pakoto High School who is the leading scorer of the tournament and Popoola Sarat of Muslim High School, Isolu who in the female category won the most valuable player award in the semifinals. All eyes will also be on Owodunni Sofiat of Ajogbo Grammar School who displayed prowess that helped her team get to the finals.

For over six years, GTBank has sponsored the Principals Cup competition in Ogun state with the aim ofpromoting grassroots football, cultivating dreams through hard work and discipline. After the fixtures, winners will be rewarded with the sum of N1,000,000.00, N750,000.00, N500,000.00 and N250,000,00 for the 1st, 2nd, 3rd and 4thplace winners respectively in both male and female categories.

Guaranty Trust Bank is one of the few Nigerian financial institutions that have maintained a defined Corporate Social Responsibility (CSR) strategy, most especially in sports education. The Bank actively supports in-classroom and out-of-classroom educational programmes, infrastructure development, students’ scholarship and teachers training across Africa.

GTBank Announces Full Year 2017 PBT of N200.24Billion

Segun Agbaje, MD/CEO GTBank

Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2017 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 year grew by 1.1% to ₦419.2billion from ₦414.6billion reported in the December 2016; driven primarily by growth in interest income as well as e-payment revenues.

Profit before tax stood at ₦200.2billion, representing a growth of 21.3% over ₦165.1billion recorded in the corresponding year ended December 2016. The Bank’s loan book dipped by 8.9% from ₦1.590trillion recorded as at December 2016 to ₦1.449trillion in December 2017 while customer deposits increased by 3.8% to ₦2.062trillion from ₦1.986trillion in December 2016.

The Bank’s balance sheet remained strong with a 3.9% growth in Total Assets and Contingents as the Bank closed the year ended December 2017 with Total Assets and Contingents of ₦3.845trillion and Shareholders’ Funds of ₦625.2Billion.

In terms of Assets quality, NPL ratio increased to 7.7% in December 2017 from 3.7% in December 2016 largely as a result of classification of a single exposure within the Nigerian Telecommunications Industry. However, non-performing loans would moderate to 4.6%, which is below regulatory threshold, if we exclude this name from NPL ratio computation. Overall, asset quality remains stable with adequate coverage of 119.6%, while Capital remains strong with CAR of 25.7%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) closed at 35.4% and 6.2% respectively. The Bank is proposing a final dividend of 240k per unit of ordinary shareheld by shareholders in addition to interim dividend of 30k per unit of ordinary share bringing total dividend for 2017 financial year to ₦2.70 per unit of ordinary share.

Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje, said; “2017 was a pivotal year for the bank. We delivered a strong result in a challenging environment; achieving record growth in earnings, carefully managing cost margins and leveraging our digital-first customer-centric strategy to deliver world-class services that are simple, cheap and easily accessible.”

He further stated that “The result demonstrates the fundamental strength of our franchise as well as the progress we are making in transforming our organization into a platform on which our customers could build their businesses, connect with their consumers and access all the resources that they need to make their lives better.”

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 35.4% and cost to income ratio of 38.1% 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 2017.

GTBank Supports The Attempt Of A Nigerian To Break The Guinness World Record Via 'YouREAD Initiative'

YouREAD Initiative, one of CSR programmes of GTBank launched in 2017 to rekindle the interest in reading, has given her support to a 40-year old Nigerian, Olubayode Treasures Olawunmi who is attempting to break the Guinness World Record for the Longest Marathon Read Aloud.


The current record holder, Deepak Sharma Bajaan attained the feat in 2008 after he read a total of 17 books in 113 hours and 15 minutes.


Now, Treasure Olawunmi is taking a shot at breaking the world record by reading over 15 Nigerian published books in 120 hours over a period of 6 days at the Herbert Macaulay Library, Yaba recently refurbished by the bank.


Treasures Olawunmi started the challenge on Monday 26th February, 2018 at exactly 1:30pm Nigerian time.


So far, he has read nine books including Toni Kan’s The Carnivorous City, Sarah Ladipo Manyika’s Independence, LeyeAdenle’s Easy Motion Tourist, Elnathan John’s Born on a Tuesday amongst many others.


Today, 1st March, has been set aside by UNESCO as the World Book Day and it is the 3rd day of his marathon attempt, he has done over 72hours of reading.


The bank celebrated the day with Treasures Olawunmi, students from various schools in the environs and with over 250 readers who filled the library to capacity.

WELCOME TO THE LAGOS INTERNATIONAL POLO 2018

Kunle Aluko, HMO & friend

Seyi Tinubu, Kunle Aluko & friend

HMO, Segun Agbaje & Friend

The annual gathering of money bags, young Turks, the creme de la creme of the society and their ladies and kids is on again. It began last week and would run through this week, ending with a bang on Sunday with some top class entertainment. King Sunny Ade and many of our in the moment top artistes and stars have performed at various times, so it's very likely some big artistes would end the annual tournament again this year too.

Polo is not called the "king of games or the "game of kings" just for fun. It's because the patrons of the game are not mere men, but mostly very liquid men. Reason for that basically is that to even afford the horses used to play the game alone is no beans! So in most parts of the world, those who own teams and play the game are the wealthy. Those who have the means but who don't participate actively by playing, buy the best players and horses to play for them. So like it obtains around the world, so also in Nigeria too.

Some of those horses you see people riding like they are notgnot can build a house or buy some normal cars!

So if you have any reason to want to rub shoulders with the creme of the society then, please head immediately to the Polo club Ikoyi, where they would all be at again throughout the week, better still from Wednesday.

Some of those seen at the polo club, Ikoyi venue during the outgone week, were the likes of Kunle Aluko, Hakeem Muri-Okunola, Seyi Tinubu and very many others.

This year's sponsor is GTbank, amongst several others though.

Check out their pictures.

More after the break.

GTBank Sponsors 2018 Lagos International Polo Tournament

Lagos Nigeria – February, 2018.

Some of the most renowned indigenous and international polo teams are set to convene in Lagos, Nigeria to compete for highly coveted trophies in the 2018 Lagos Int’l Polo Tournament. Sponsored by leading African Financial Institution, Guaranty Trust Bank plc, the competition will see both Nigerian and foreign teams compete in four main cups, namely: the Silver Cup, Open Cup, Lagos Low Cup and Majekodunmi Cup.

Over the years, GTBank has been at the forefront of supporting Polo; widely revered as the Sport of Kings, and promoting the Lagos International Polo Tournament, which has hosted reputable personalities such as His Royal Highness the Prince of Wales. Played on the grounds of the Lagos Polo Club, Ikoyi, the premier polo club in the country, the tournamenthas featured polo greats like Alphonso Pieres, Gonzalo Pieres and Alan Kent, and promises to provide top class action and entertainment for all polo lovers.

Some of the players expected to light up this year’s 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 enthusiasts will also be treated to a variety of off-the-pitch activities ranging from thrilling performances by music stars to an exquisite experience at the exclusive GTBank Lounge where guests will be treated to epicurean cuisine and vintage wine.

Commenting on GTBank’s sponsorship of the 2018 NPA Lagos International Polo Tournament, Segun Agbaje, Managing Director of Guaranty Trust Bank plc, said; “We love the game of polo, the passion and the symbiosis between the players and their horses, but most importantly, we hold a strong affinity to the sport of kings because it reflects quality, competitiveness and fair play; some of the values that have made GTBank a Proudly African and Truly International Financial Institution.” He further stated that; “Our sponsorship of the 2018 NPA Lagos International Polo Tournament, which has grown over the years to become one of the most anticipated social and sporting events of the year, demonstrates our strong belief in the role of sports in developing and uniting our society.”

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.

GTBANK LAUNCHES THE DUSTY MANUSCRIPT CONTEST

Lagos, Nigeria – February, 2018

Foremost African financial institution, Guaranty Trust Bank plc, has launched the Dusty Manuscript Contest(csr.gtbank.com/dustymanuscript) to give budding writers the opportunity to win publishing deals for their finished, but yet-to-be published, manuscripts. Organized in partnership with publishing houses Okada books and Farafina, the contest is part of the Bank’s YouREAD initiative which is aimed at promoting the culture of reading.

The Dusty Manuscript Contest is the latest in a long line of GTBank initiatives geared towards promoting the appreciation of Art and supporting creative potential. In 2017 the Bank remodelled the old Herbert Macaulay Library, Yaba into a state of the art learning and recreational facility that would give people in the community and beyond the opportunity to build capacity, gain exposure and connect with the world. The remodelled library has been the venue of regular book readings and art expositions organized under the YouREAD initiative.

With the Dusty Manuscript Contest, the Bank is seeking to address the challenges indigenous writers face getting their books published.The top 3 entries in the contest will be rewarded with publishing contracts with Farafinaas well cash rewards. The top 10 entries will get their books e-published by Okadabooks, including book cover design, book editing, and publicity. The top 25 book authors will also get a 2-day boot camp training on writing, marketing and branding.Tosubmit a manuscript, interested writers are to visit csr.gtbank.com/dustymanuscript.

The entries in the Dusty Manuscript Contest will be assessed by a panel of four judges which includes EghosaImasuen, the author of widely acclaimed novel, Fine Boys, and Yejide Kilanko, a poet and therapist in children’s mental health, Dr AinehiEdoro-Glines, an Assistant Professor of English Language and Toni Kan, a writer and PR executive whose collection of short stories, Nights of a Creaking Bed, won the NDDC/Ken SaroWiwa prize for literature.

Commenting on the Dusty Manuscript Contest, Mr SegunAgbaje, the Managing Director of Guaranty Trust Bank plc, said; “At GTBank we see art as not just a medium for creative expression but also as a means of livelihood, and by organizing the Dusty Manuscript Contest we are helping budding writers make a living off their works. He further added that; “By addressing the major barrier that our indigenous writers face in sharing their stories with the world, we hope to inspire and develop the next generation of award-winning and globally renowned authors.”

GTBank has consistently played a leading role in Africa’s banking industry. The Bank 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.

AFRICAN DESIGNERS GET SUPPORT AS GTBANK COLLABORATES WITH SELFRIDGES, UK

Guaranty Trust Bank plc recently launched its partnership with Selfridges, UK to project authentic designs by talented African fashion designers. The collaboration tagged “Guaranty Trust Bank presents Ndani” stems from the Bank’s commitment to the projection of African Art to global audiences as a Proudly African and Truly International financial institution.

Ndani represents the beauty of Africa and this is clearly demonstrated at a distinct pop-up shop in Selfridges’ departmental store on Oxford Street in the UK. The designs on display at the shop express the deep creativity, ingenuity and originality of African designers, attributes which the designers share with the GTBank brand.

The exhibition has already attracted several reviews and visits by fashionistas from all over the world and is set to be a high point at the store throughout December 2012 and January, 2013. Participating designers are from Nigeria and include: Agu, House of Silk, DOT Handbags, Odio Mimonet, Lanre Da Silva Ajayi, Jewel by Lisa, Eki Orleans, Ituen Basi and Tiffany Amber. These designers are showcasing their Christmas/Cruise collection exclusively at the Nigerian world pop-up store during the project.

Commenting on the GTBank – Selfridges project, the Managing Director and CEO of Guaranty Trust Bank plc, Mr. Segun Agbaje said that supporting and promoting African art such as fashion internationally is one of GTBank’s major Corporate Social Responsibility thrust. He stated that “we will continue to forge strategic partnerships to create platforms for the contributions of Africans to the different genre of Art as an organization positioned to harness the hidden potentials in Africa”.  

Guaranty Trust Bank’s other recent art projects include its ongoing partnership with Tate, UK where it has appointed an international curator of arts and provides funds for the acquisition of African art by the gallery in addition to sponsoring annual art projects around the world. Furthermore, Ndani TV powered by Guaranty Trust Bank is an online platform which seeks to promote the best of Africans in music, fashion, writing, technology and business. The platform tells their story from a uniquely African perspective and puts their works within the digital space.  

Guaranty Trust Bank was established in 1990 and presently operates from over 200 offices in Nigeria and banking subsidiaries in Ghana, Gambia, Sierra Leone, Liberia, Cote d’Ivoire and the United Kingdom.