GTBank Kenya Opens 9th Branch in Expansion Drive

Guaranty Trust Bank Plc (GT Bank), Nigeria's biggest lender by market value estimated at $2.02 billion, plans to make a foray into the Kenyan market.

GTBank Kenya Opens 9th Branch in Expansion Drive

GTBank Kenya, a subsidiary of the Nigerian Guaranty Trust Bank Plc opened a new branch in Nakuru.

The new branch, located at Polo Center, Kenyatta Avenue, raised its network to 9 in addition to those in Nairobi, Nanyuki, Mombasa, and Thika.

GTBank Kenya’s Managing Director, Mr. Olabayo Veracruzsaid the opening the branch was a strategic move that will act as a gateway to tap into the vast investment opportunities found in the region.

“Opening of the new branch epitomizes the Bank’s growth strategy of spreading its footprint to various regions in the country, bringing accessibility of the Bank’s niche products and services to its customers.”

Guaranty Trust Bank (Kenya) has two subsidiaries in East Africa: In Uganda with a 100% shareholding and Rwanda with a 96.38% shareholding. In 2013, it acquired a 70% controlling stake of then Fina Bank Group which had been in operation in Kenya for over 25 years with subsidiaries in Rwanda and Uganda.