Guaranty Trust Bank Limited has been named Best Bank in Nigeria at the Euromoney Awards for Excellence 2023, for a record 12th time, underscoring its position as a leading financial institution in the country.
Recognising the bank as the leading financial powerhouse, Euromoney noted that GTBank, the flagship franchise of Guaranty Trust Holding Company Plc, “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.”
The GTB, according to a statement, has despite the difficult operating environment, continued to deliver exceptional results such as the profit before tax of ₦214.2bn, pre-tax Return on Equity (ROAE) of 23.6%, and Cost to Income Ratio (CIR) of 48.0% for the period ended December 31, 2022.
Euromoney, the leading authority for global banking and financial markets and the annual Awards for Excellence, the statement added, celebrates financial institutions that demonstrate leadership, innovation, and resilience in the markets they operate.
Reacting to the award, Mrs. Miriam Olusanya, Managing Director of the bank expressed honour at being named the Best Bank in Nigeria by Euromoney, a recognition she believes “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,” she assured.