Euromoney Names GTBank Best Bank in Nigeria
By Aduragbemi Omiyale
The Best Bank in Nigeria is Guaranty Trust Bank (GTBank) Limited, a leading authority for global banking and financial markets, Euromoney, has declared.
The company made this declaration at the Euromoney Awards for Excellence 2023.
“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,” the chief executive of GTBank, Mrs Miriam Olusanya, said.
It was said that GTBank, which is getting this award for a record 12th time, went away with the accolade because it “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.”
Despite a difficult operating environment, the financial institution continues to deliver exceptional results as the flagship franchise of GTCO Plc, which 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 in the full year of 2022.
Euromoney celebrates financial institutions that demonstrate leadership, innovation, and resilience in the markets they operate.
GTBank is widely regarded as the best-managed financial institution in Nigeria and continues to post the best metrics in the Nigerian Banking industry in terms of key financial ratios.
Its leadership in the banking industry and efforts at empowering people and communities have earned it many prestigious awards over the years. The Bank was recognized as Africa’s Best Bank and the Best Bank in Nigeria at the 2021 Euromoney Awards for Excellence. It also retained its position as Africa’s Most Admired Financial Services Brand in the 2021 ranking of The Brand Africa 100: Africa’s Best Brands.