Photo Caption: From left, Adebanji Adeniyi, Executive Director of Guaranty Trust Holding Company Plc; Segun Agbaje, the Group Chief Executive; Hezekiah Oyinlola, Chairman; Mrs. Catherine Echeozo, Non-Executive Director and Mr. Erhi Obebeduo, Group Company Secretary and General Counsel, at the 1st Annual General Meeting of the Company in Lagos.
Shareholders of Guaranty Trust Holding Company Plc (GTCO) unanimously endorsed the payment of a total dividend of N3 per share for the financial year ended December 31, 2021, at the holding company’s maiden Annual General Meeting (AGM) in Lagos. The payment comprised a final dividend of N2.70 each in addition to the interim dividend of 30 kobo paid for the half-year ended June 30.
The meeting also commended the board for the transition into a holding company and the financial performance reported for the period under review despite the operating environment, while unanimously approving the appointments of the new board members.
Speaking on behalf of shareholders, the patron, Nigeria Shareholders Solidarity Association (NSSA), Timothy Adesiyan, appreciated the progress that the bank has made in its transition to a holding company, noting the great expectations of investors from the company on the back of good corporate governance principle that the company has always been associated with for a bright future.
Addressing shareholders earlier, chairman of GTCO, Hezekiah Adesola Oyinlola, said 2021 was a pivotal year in its corporate history, and that following “years of revisioning and planning, we successfully reorganized into a holding company to harness the potential within our operating environment and consolidate our position as a leading financial services provider in Africa.”
He said the company’s progress in its drive to diversify its income streams and ensure long-term value creation for all stakeholders, expressing “complete confidence in the ability of our leadership team to unlock new and exciting opportunities that will unleash the potential of our diversification for long-term growth and sustainable returns.
“When I look at the future-proofing of every part of our organisation, from our talent base to our business models and digital capabilities, I am reminded of just how forward-thinking our management team continues to be in our company’s constant push to be ahead of the curve in creating innovative financial solutions, delivering service excellence and ensuring long-term value creation.
On the outlook for the company, Oyinlola expressed confidence at “the potential of our new holding company structure. I see the immense opportunities opened by our strategic investments in building up diverse lines of business. The future of financial services belongs to the institutions that will seamlessly integrate the full range of cutting-edge solutions in a people-centric digitally enabled ecosystem.”
Also speaking, the Group Chief Executive Officer of GTCO, Segun Agbaje described the performance for the year under review as resilient across all financial indices, reaffirming the Bank’s position as one of the best managed financial institutions in Africa.
“The Group closed the year 2021 with total assets of N5.436 trillion, up by 9.9 percent from N4.945 trillion the full year 2020 position.
“Across all its Banking Subsidiaries in West Africa, East Africa and the United Kingdom, the Group continues to maintain a diversified Balance Sheet.
“The Group closed 2021 with a profit before tax of N221.5 billion, this is despite the challenges and headwinds presented by the operating and regulatory environments in 2021.”
Speaking on the corporate reorgaisation which the company started 2021, he said the company finished the year more robust and dynamic to consolidate its lead across the ever-extending breadth of financial services.
He recalled that “following the shareholders’ approval of our transition to a holding company structure in December 2020, we worked with regulators, the broad spectrum of our stakeholders, and some of the most experienced advisory institutions in the world, to ensure that we have, not only a smooth transition but also the best people and the right structures to drive our vision of becoming Africa’s leading financial services groups.”
Following the July 2021 completion of the incorporation of Guaranty Trust Holding Company as new parent company, shareholders at the meeting approved a new board for GTCO. They are Hezekiah Oyinlola, Chairman; Segun Agbaje, GCEO; Suleiman Barau, Independent Non-Executive Director; Mrs. Helen Lee Bouygues, Independent Non-Executive Director; Mrs. Catherine Echeozo, Non-Executive Director; and Adebanji Adeniyi, Executive Director.