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    Billionaire businessman Aminu Alhassan Dantata dies at 94

    Billionaire businessman Aminu Alhassan Dantata dies at 94

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    Israel and Iran agree on ceasefire – Trump

    Breaking: Iran launches missiles at US bases in the Middle East

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    Trump bans citizens of 12 countries from entering the U.S, full list

    France launches mandatory online visa appointments for travelers

    France launches mandatory online visa appointments for travelers

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    UK tightens visa rules for care workers, skilled workers and students

    UK tightens visa rules for care workers, skilled workers and students

    United States scraps visa dropbox service for Nigerian applicants

    President Donald Trump cancels protection for 500,000 Haitian migrants

    Spain golden visa scheme ends as Portugal and Greece demand increases

    Spain golden visa scheme ends as Portugal and Greece demand increases

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    CBN ends free ATM withdrawals for other banks’customers

    FG increases private university application fee from N5m to N25m

    FG increases private university application fee from N5m to N25m

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    United States scraps visa dropbox service for Nigerian applicants

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    Nigeria renews $2 billion currency swap deal with China to boost bilateral trade

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    • Economic Data
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    • Companies
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Guaranty Trust Bank completes corporate re-organization, constitutes Board of Holding Company (GTCO)

Wednesday, 14 July 2021, 8:28 pm
in Business, Companies
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Guaranty Trust Bank completes corporate re-organization, constitutes Board of Holding Company (GTCO)
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Guaranty Trust Bank earlier today in a publication on the Nigerian Exchange announced that it has completed its re-organisation to a Holding Company Structure.

Under the terms of the re-organization, a new operating company has been established. The corporate name of Guaranty Trust Holding Company Plc (GTCO) will be used by the newly established operating company.

As part of the restructuring process, the Board of GTCO was constituted and the Board of Guaranty Trust Bank Limited (GTBank) was reconstituted following the retirements of the following Directors: Mrs. Osaretin Demuren (Chairman), Mr. Adebayo Adeola (Non-Executive Director), Mr. Demola Odeyemi (Executive Director), Mr. Bolaji Lawal (Executive Director).

  • Read also; Vacancy: UBA is currently recruiting qualified candidates
  • DMO to auction N150bn FGN Bond for July, 10-year rate slumps

The new GTCO’s Board will comprise of;

  1. Mr Sola Oyinlola as Chairman
  2. Mr. Segun Agbaje as the Group Chief Executive Officer
  3. Mrs. Cathy Echeozo as Non-Executive Director
  4. Mr. Suleiman Barau and Mrs. Helen Bouygues as Independent Non-Executive Directors
  5. Mr. Adebanji Adeniyi as Executive Director

GTCO also announced its new Board of Directors as well as changes to the Board of its banking subsidiary, all of whom have been approved by the Central Bank of Nigeria.

The GTBank Board will comprise;

  1. Mr. Ibrahim Hassan as Chairman
  2. Mrs. Miriam Olusanya as Managing Director
  3. Mr. Olabode Augusto as Non-Executive Director
  4. Mrs. Imoni Akpofure and Mrs. Victoria Adefala as Independent Non-Executive Directors
  5. Mr. Jide Okuntola as Deputy Managing Director and
  6. Mr. Haruna Musa as Executive Director

Commenting on the completion of the Corporate Re-organisation, Mr. Segun Agbaje, the Group Executive Officer of GTCO said:

“We believe that a Holding Company Structure will allow us take advantage of new business opportunities in the emerging competitive landscape and strengthen our earnings base. We are very excited to get started on the next phase of our incredible journey to driving Africa’s growth by making end-to-end financial services easily accessible to every African and African Businesses by leveraging Technology and Strategic Partnerships.

“As a bank, we were always looking to meet every customer need; with our corporate re-organisation, we will be able to do more to help our customers thrive in this new world of digital technologies and unprecedented possibilities”.

Prior to its corporate re-organisation to Guaranty Trust Holding Company Plc, Guaranty Trust Bank Plc was widely regarded as the best managed financial institution in Nigeria and has over the past decade, embarked on a period of unparalleled growth.

It has grown its customer base from less than 3 million customers in 2011 to over 24 million customers in 2020, and profit before tax from N45.5 billion at the end of the 2010 financial year to N238.1 billion at the end of the 2020 financial year.

Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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