Banking

Euromoney names GTBank best bank in Nigeria

Guaranty Trust Bank Limited (GTBank) has been named the best bank in Nigeria at the 2023 Euromoney Awards for Excellence.

According to a statement issued by the bank on Monday, July 17, 2023, this marks a record 12th time that GTBank has been recognised as the leading financial institution in Nigeria.

Euromoney is the leading authority for global banking and financial markets and the annual Awards for Excellence celebrates financial institutions that demonstrate leadership, innovation, and resilience in the markets they operate.

Announcing the award, Euromoney stated: “Nigeria’s best bank, Guaranty Trust Bank, has continued to do a good job of convincing investors that it is better placed than its key competitors to deal with the risks ahead – and perhaps to take advantage of opportunities in economic and policy transition.”

Speaking on the award, the Managing Director of Guaranty Trust Bank Limited, Miriam Olusanya, said: “We are honoured to be named the best bank in Nigeria by Euromoney.

“This recognition reflects our unwavering commitment to the values of excellence and innovation which form the bedrock of our value proposition as an institution and has guided the mother-brand to achieve remarkable success for over 30 years.

“As part of a thriving financial holding company, we will continue to prioritise service delivery and innovation whilst maintaining our strong financial performance.”

GTBank recorded a profit before tax of N214.2 billion, pre-tax Return on Equity (ROAE) of 23.6 per cent, and Cost to Income Ratio (CIR) of 48.0 per cent for the period which ended on December 31, 2022.

The Star