Nigeria’s GT Bank Plans Further Expansion in Kenya via Acquisition

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

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.

GTB’s managing director, Segun Agbaje during the release of the bank’s Audited Financial Results for the year ended December 31, 2020, said “Amidst the many challenges that persist, we remain ardent believers in Africa’s growth potential. With our commitment to deepening customer relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned to lead this new world.”

“I think the place we will still like to do business or do an acquisition is Kenya,” he said during an Investor Conference call.

GTBank was recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa.

According to the bank, it has been rated B- and B by S&P and Fitch respectively, a reflection of its stability and reputation of being a well-established franchise with strong asset quality and consistent excellent financial performance.

It has a presence in the Gambia, Rwanda, Uganda, Sierra Leone, Ghana, Congo, Zambia, Liberia, Tanzania, Cote D’ Voire, China and the UK.

In Kenya, it operates through its subsidiary Guaranty Trust Bank (Kenya) Limited with 15 branches.