Secret of GTBank’s success, by CEO
African Banker of the Year and Chief Executive Officer of Guaranty Trust Bank Plc, Mr. Segun Agbaje, has attributed the bank’a success in 2012 financial year to customer loyalty.
Speaking to a group of reporters few days after the bank published its audited results, Agbaje said no organisation in the world could be profitable if its customers did not believe and support its vision.
His words: “There is a direct relationship between a company’s level of profitability and public perception about its brand. When people see a brand as a valued partner, they continue to do business with it, which ultimately translates to profitability. Companies on the other hand have a responsibility to ensure their customers are satisfied at all times and treated with respect. This knowledge is the base rock upon which our 2012 performance is hinged’.
Guaranty Trust Bank’s results for the 2012 financial year showed a Profit Before Tax of N103 billion, the highest for any Nigerian bank from continuing operations at both bank and group levels. The Group’s results also show improved gross earnings of N221.9 billion and 69 per cent improvement in Profit After Tax to N87.3 billion. This is against the N51.7 billion posted in 2011..
The bank closed the 2012 financial year with an On-Balance Sheet size of N1.73 trillion as against N1.608 trillion in 2011.
The total assets and contingents stood at N2.26 trillion compared with N2.14 trillion in 2011, representing a growth of 8 per cent and six per cent respectively.
Additionally, the bank’s stance as an upstanding social citizen and commitment to full disclosure was evidenced by its 2012 tax liabilities, which came to over N16.3 billion, while total dividend payment for the financial year is projected at N45.62 billion (N1.55 per ordinary share of 0.50 kobo each).
Agbaje confirmed that the bank would continue to introduce products and alternative channels that will allow the public to undertake their banking activities quickly, safely and conveniently.
Guaranty Trust Bank was established in 1990 and is regarded by industry watchers as the best run financial institution within the Nigerian financial services space, due to its bias for world class corporate governance standards, excellent service quality and innovation. The bank operates from over 200 branches within the country and has banking subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.
In recognition of it service standards, management quality and financial performance, the Bank has been the recipient of numerous awards over the years that most recently include the Best Bank in Nigeria Award for the fourth consecutive year from Euromoney Magazine and the Best Bank in Nigeria Award from EMEA Finance