Euromoney names GTB as best bank in Nigeria

Guaranty Trust Bank Ltd (GTB) has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023. This marks a record 12th time that GTB has been recognised as the leading financial institution in Nigeria.

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.”

Despite a difficult operating environment, the bank continues to deliver exceptional results as the flagship franchise of Guaranty Trust Holding Company Plc, which recorded a profit before tax of ₦214.2 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 ended December 31, 2022.

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. The latest recognition underscores Guaranty Trust’s position as the leading financial institution in Nigeria.

Commenting on the award, Managing Director of Guaranty Trust Bank Ltd, Mrs. 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.”