Connect with us

Banking

GTBank Assures Shareholders More Optimal Returns in 2018

Published

on

By Dipo Olowookere

Chairman of Guaranty Trust Bank (GTBank) Plc, Mrs Osaretin Demuren, has assured shareholders that the lender will continue to deliver good returns to them.

Mrs Demuren gave this assurance at the bank’s 28th Annual General Meeting (AGM) held this week in Lagos.

She said given the gains recorded in 2017 and continuing improvements in key macro-economic indicators, it was expected that the monetary and fiscal authorities would consolidate on the 2017 gains in 2018.

According to her, GTBank will continue to take advantage of huge openings in the market to come up with good yields like the lender did last year in its financial statements.

“On our part, we are optimistic about the future and will continue to position ourselves to take advantage of the immense opportunities in the market in which we operate in order to grow our earnings, improve profitability and deliver returns to the shareholders,” she assured shareholders.

Managing Director of GTBank, Mr Segun Agbaje described 2017 as a pivotal year for the bank in which it focused on three core objectives to deliver strong, high quality results for its shareholders; enhance its service experience across its digital channels and develop products and initiatives that enable the bank to provide customers with benefits beyond banking.

He said the financial institution will continue to spread its tentacles and conquer more grounds in the financial sector.

Mr Agbaje thanked shareholders of the bank for their support, emphasising that they will never be disappointed for putting their trust on the management of GTBank.

In 2017, GTBank grew its gross earnings by 1.1 percent to N419.2 billion from N414.6 billion in 2016. This was driven primarily by growth in interest income as well as e-payment revenues.

During the period under review, the lender grew its profit before tax by 21.3 percent to N200.2 billion from N165.1 billion in 2016.

Also, the customer deposits increased by 3.8 percent to N2.06 trillion from N1.99 trillion in December 2016, while the bank’s loan book dipped by 8.9 percent from N1.59 trillion recorded as at December 2016 to N1.45 trillion in December 2017.

The board of directors of GTBank recommended a dividend of N70.632 billion or N2.40 per share, bringing the total dividend paid for 2017 to N79.46 billion or N2.70 per share.

During AGM, shareholders of the bank approved the payment of the N70.632 billion dividend declared by the board for the financial year ended December 31, 2017 as well as the 2017 financial statements.

Chairman of Progressive Shareholders Association of Nigeria, Mr Boniface Okezie, heaped praises on the management of GTBank for the impressive results.

He said his members were glad with the way Mr Agbaje was leading affairs of the financial institution and charged him to do more.

Mr Okezie said shareholders of the lender were solidly behind him and expressed optimism that gains in 2018 would surpass 2017.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

Banking

Applications Open for GTCO ‘Take on Squad’ Hackathon 3.0

Published

on

Squad logo

By Dipo Olowookere

Tech enthusiasts interested in participating in the Take on Squad Hackathon, organised by Guaranty Trust Holding Company (GTCO) Plc, can now enter the contest via the official portal at https://squadco.com/hackathon.

The programme enters its third edition in 2026, and the theme for this year is Smart Systems: The Intelligent Economy, according to a statement issued by the organisers.

The hackathon brings together developers, designers and entrepreneurs across Nigeria in a collaborative environment to build practical solutions across key sectors, including financial services, healthcare, commerce and digital inclusion.

Participants are challenged to design and build intelligent, data-driven solutions that transform how communities engage with money.

It is part of the organisation’s commitment to fostering innovation, empowering talent, and supporting the development of technology-driven solutions that address real-world challenges across Africa.

 “Today’s dynamic, digitally driven world demands continuous innovation, which is shaping how economies grow, how businesses scale, and how societies evolve.

“Through Take on Squad Hackathon, we are deliberately investing in the ideas and talent that will define the future.

“Our objective is not simply to encourage innovation, but to enable its translation into scalable solutions that deliver real and measurable impact.

“This reflects GTCO’s role as a financial services platform that connects capital, capability, and creativity to drive sustainable progress,” the Managing Director of HabariPay, Ms Eduofon Japhet, stated.

The social coding event remains a cornerstone of HabariPay’s mission to foster creativity and problem-solving among emerging tech talents. Competing teams will leverage Squad’s advanced APIs to create scalable digital tools that address everyday challenges faced by businesses and individuals.

Through initiatives such as this, GTCO continues to position itself at the intersection of finance, technology and enterprise, actively shaping the future of digital transformation in Africa.

Continue Reading

Banking

Easter: Ecobank Assures Customers Uninterrupted Banking Services

Published

on

Ecobank Remodel branches

By Dipo Olowookere

Banking services will not be interrupted throughout the Easter public holidays, from Friday, April 3, to Monday, April 6, 2026, for any reason, Ecobank Nigeria has assured its customers.

In a message over the weekend, the member of Africa’s leading pan-African banking group, Ecobank Transnational Incorporated, said customers would continue to enjoy quality service delivery during the period.

It noted that its secure and robust digital platforms would remain fully operational to support financial activities during the festive period.

All digital channels, including the Ecobank Mobile App, Ecobank Business App, USSD *326#, Ecobank Online, OmniPlus, Omnilite, EcobankPay, Ecobank Cards, ATMs, PoS terminals, and over 35,000 Ecobank Xpress Point agent locations nationwide, will remain accessible throughout the holiday, the financial institution further said, urging customers to conveniently conduct transactions at any time using this wide range of digital solutions.

Ecobank customers were encouraged to maximise the bank’s alternative channels for transfers, bill payments, airtime purchases, card services, and account management.

They were also advised to stay vigilant by shopping only on trusted websites; avoiding the sharing of PINs, passwords, and one-time passwords (OTPs); refraining from banking on public Wi-Fi networks; being cautious of urgent or emotionally charged messages; and regularly monitoring their account activity.

“Customers will continue to enjoy a full bouquet of services during the holiday, including local and international funds transfers, bill payments, airtime top-ups, merchant payments, balance enquiries, account statements, and cardless cash withdrawals via ATMs,” the Head of Products & Analytics, Consumer & Commercial Banking at Ecobank Nigeria, Mr Victor Yalokwu, stated.

“We understand that festive seasons come with increased financial activity, and our priority is to ensure our customers enjoy fast, reliable, and secure banking wherever they are.

“Our digital channels are designed to support uninterrupted transactions, and we have strengthened our systems to guarantee optimal performance throughout the Easter break,” he added.

Mr Yalokwu noted that, “Ecobank remains committed to providing innovative financial solutions and exceptional customer service. We wish all our customers and partners a peaceful and joyful Easter celebration.”

Continue Reading

Banking

Polaris Bank to Limit Access to VULTe for Four Days

Published

on

Polaris Bank Fashion Souk

By Dipo Olowookere

Customers may have difficulty accessing the digital platform of Polaris Bank, known as VULTe, during the Easter holidays from Friday, April 3, to Monday, April 6, 2026.

This is because the financial institution is carrying out system maintenance on the platform in its effort to ensure users enjoy a better banking experience.

In a notice over the weekend, the lender said “access to VULTe may be limited,” but it provided an alternative, which is the PolarisXperience.

Polaris Bank, which expressed regret over “any inconvenience” this action may cause its customers, said the “scheduled system maintenance” would happen from 10 pm to 8 am daily, promising that normal service would return after the maintenance.

“In continuation of our commitment to delivering a seamless and improved banking experience, we will be conducting a scheduled system maintenance during the Easter holidays.

“During this period, access to VULTe may be limited. We have provided an alternative channel, PolarisXperience:

“Please go to our website to onboard or use it as an existing user. You can also use this link: (https://elogin.polarisbanklimited.com).

“We regret any inconvenience and appreciate your understanding. Normal service will resume after the maintenance,” parts of the notice seen by Business Post read.

Continue Reading

Trending