Iexclusive News Nigeria reports that Africa’s leading financial services institution, Guaranty Trust, has been named Africa’s Best Bank 2021 by Euromoney, the premier information authority on global finance. Guaranty Trust Bank was also recognized as Nigeria’s Best Bank for a record 11th time.
“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 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.”
He further stated that, “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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