Description

Guaranty Trust Bank Ltd was incorporated in 1990 as a limited liability company, licensed to provide commercial and other banking services to the Nigerian public. The Bank commenced operations in February 1991 and has since grown into one of Nigeria’s most respected, resilient, and service-focused financial institutions. In September 1996, Guaranty Trust Bank became a publicly quoted company and... Guaranty Trust Bank Ltd was incorporated in 1990 as a limited liability company, licensed to provide commercial and other banking services to the Nigerian public. The Bank commenced operations in February 1991 and has since grown into one of Nigeria’s most respected, resilient, and service-focused financial institutions. In September 1996, Guaranty Trust Bank became a publicly quoted company and received the Nigerian Stock Exchange President’s Merit Award in the same year. The Bank went on to win the award repeatedly in 2000, 2003, 2005, 2006, 2007, 2008, and 2009, reflecting sustained excellence in corporate governance, transparency, and performance. In February 2002, the Bank was granted a universal banking licence and, in 2003, was appointed a settlement bank by the Central Bank of Nigeria. These milestones further strengthened its role within Nigeria’s financial system. In 2004, Guaranty Trust Bank undertook its second share offering, successfully raising over ₦11 billion from Nigerian investors to expand operations and compete effectively with global financial institutions. This capital raise ensured readiness to meet the ₦25 billion minimum capital base introduced by the Central Bank of Nigeria in 2005 as part of sector-wide banking reforms. Following industry consolidation, the Bank made a strategic shift towards retail banking. A comprehensive rebranding exercise in June 2005 marked a new phase of growth, characterised by enhanced service offerings, accelerated branch expansion, and the adoption of its now-iconic vibrant orange brand identity. In 2007, Guaranty Trust Bank achieved a historic milestone by becoming the first Nigerian financial institution to issue a US$350 million Regulation S Eurobond and a US$750 million Global Depositary Receipts offer. The listing of its GDRs on the London Stock Exchange in July 2007 made the Bank the first Nigerian company and the first African bank to be listed on the main market of the London Stock Exchange. The Bank continued to strengthen its capital structure and funding profile in December 2009 with the successful issuance of ₦13.165 billion Fixed Rate Senior Unsecured Non-Convertible Bonds due 2014, the first tranche under its ₦200 billion Debt Issuance Programme. In May 2011, Guaranty Trust Bank further cemented its international standing with the issuance of a US$500 million bond, the first non-sovereign benchmark bond from sub-Saharan Africa outside South Africa. The success of this transaction underscored global investor confidence in the Bank’s brand and financial discipline. In 2013, the Bank issued a US$400 million Eurobond at a coupon rate of 6 percent, the lowest achieved by a Nigerian company in the international capital market at the time. The bond was issued under a US$2 billion Global Medium Term Note Programme, registered under Regulation S in the United States and Rule 144A in the United Kingdom, and placed with investors across Africa, the Americas, Asia, and Europe. Today, Guaranty Trust Bank continues to be recognised for innovation, strong governance, and customer-centric banking, maintaining a reputation built on consistency, integrity, and long-term value creation.