The Euromoney Awards for Excellence 2023 have chosen Guaranty Trust Bank Ltd GT Bank as the Best Bank in Nigeria. For the record-breaking 12th time, GTB has been acknowledged as Nigeria’s top financial institution.
Euromoney announced the prize and said: “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.”
As the flagship franchise of Guaranty Trust Holding Company Plc, the bank continues to produce exceptional results despite a challenging operating environment. For the fiscal year that ended on December 31, 2022, the bank reported a profit before tax of 214.2 billion, a pre-tax Return on Equity (ROAE) of 23.6 percent, and a Cost to Income Ratio (CIR) of 48.0%.
The annual Awards for Excellence are given out by Euromoney, the foremost authority on international banking and financial markets, also, to recognize financial organizations that have excelled in their respective sectors through leadership, innovation, and resiliency.
The most recent accolade confirms Guaranty Trust’s status as Nigeria’s top financial institution.
However, GT Bank Managing Director, Mrs. Miriam Olusanya, commented on the honor by saying, “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.”
