Guarantee Trust Bank has named Mrs Miriam Olusanya as managing director of its banking arm, while Mr Segun Agabje serves as group managing director of the Guaranty Trust Holding Company Plc, following the completion of its restructuring into a holding company.
According to a statement released by the financial institution yesterday, the holding company will be governed by a Board of Directors comprised of Mr Sola Oyinlola as Chairman of the Board and Mr Segun Agbaje as Group Chief Executive Officer, Mr Adebanji Adeniyi as Executive Director, Mrs Cathy Echeozo as Non-Executive Director, Mr Suleiman Barau and Mrs Helen Bouygues as Directors.
Mr Ibrahim Hassan as Chairman of the Board, Mrs Miriam Olusanya as Managing Director, Mr Jide Okuntola as Deputy Managing Director, Mr Haruna Musa as Executive Director, Mr Olabode Agusto as Independent Non-Executive Director, Ms Imoni Akpofure and Mrs Victoria Adefala as Independent Non-Executive Directors, Ms Imoni Akpofure and Mrs Victoria Adefala as Independent Non-Exe.
“We believe that a Holding Company Structure will allow us to take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base,” Agbaje said after the completion of the Corporate Reorganization. We are very excited to begin the next phase of our incredible journey to drive Africa’s growth by making end-to-end financial services easily accessible to all Africans and African businesses through the use of technology and strategic partnerships.
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“As a bank, we were always looking to meet every customer need; with our corporate reorganization, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities. Whilst we are evolving as an organization, we remain committed to our founding values which have endeared our brand to millions of people across Africa and beyond, and which continues to drive our financial success.
“As a proudly African and truly international band, we will continue to live by these values—of excellence, hard work and integrity, even as we create faster, cheaper, safer and more diverse products for people and businesses of varied types and sizes.”
Guaranty Trust Bank plc recently completed its reorganization to a holding company structure to strengthen its long-term competitiveness and growth prospects. A new operating company was formed as part of the reorganization, and the articles of incorporation were amended to allow for a corporate name change.
The newly formed operating company will use the corporate names Guaranty Trust Holding Company Plc and GTCO Plc.
The appointments, according to Holdco’s statement, have been approved by the Central Bank of Nigeria and have been disclosed to the Securities and Exchange Commission and the Nigerian Exchange Group.
Guaranty Trust Bank Plc was at the forefront of delivering innovative banking products and services to customers and best-in-class Return-on-Equity to shareholders before its corporate reorganization to Guaranty Trust Holding Company Plc.
It is widely regarded as Nigeria’s best-managed financial institution, and it has embarked on a period of unprecedented growth over the last decade, increasing its customer base from less than three million in 2011 to over 24 million in 2020, and profit before tax from N45.5 billion at the end of the 2010 fiscal year to N238.1 billion at the end of the 2020 fiscal year.