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Tag: Segun Agbaje

  • GTBank releases 2016 full year audited results

    GTBank releases 2016 full year audited results

      …Reports Profit before Tax of ₦165.14Billion 

    Guaranty Trust Bank plc has released its audited financial results for the year ended December 31, 2016 to the Nigerian and London Stock Exchanges.

    A review of the results shows positive performance across all financial indices, reaffirming the Bank’s position as one of the most profitable and well managed financial institutions in Nigeria. Gross earnings for the period grew by 37% to ₦414.62billion from ₦301.85billion reported in the December 2015; driven primarily by growth in interest income as well as foreign exchange income. Profit before tax stood at ₦165.14billion, representing a growth of 37% over ₦120.69billion recorded in the corresponding period of December 2015.The Bank’s loan book grew by 16% from ₦1.373trillion recorded as at December 2015 to ₦1.590trillion in December 2016 with corresponding growth in total deposits which increased by 29% to ₦2.111trillion from ₦1.637trillion in December 2015.

    The Bank’s balance sheet remained strong with a 19.7% growth in Total assets and Contingents as the Bank closed the year ended December 2016 with Total Assets and Contingents of ₦3.70trillion and Shareholders’ Funds of ₦504.9Billion. The Bank’s non-performing loans remained low and within regulatory threshold at 3.66% (Bank: 3.29%) with adequate coverage of 131.79% (Bank: 150.80%). Increase in collective impairment was borne out of the prudent stance of the Bank, while Capital remains strong with CAR of 19.79%. On the backdrop of this result, Return on Equity (ROAE) and Return on Assets (ROAA) closed at 35.96% and 5.85% respectively. The Bank is proposing final dividend of 175k per unit of ordinary share held by shareholders in addition to interim dividend of 25k per unit of ordinary share bringing total dividend for 2016 financial year to ₦2 per unit of ordinary share.

    Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr Segun Agbaje, said that “The Bank’s financial performance in 2016, does not only reflect the resilience of our franchise, it demonstrates the fundamental strength of our businesses to deliver sustainable long-term growth. We successfully navigated the heightened economic uncertainty and regulatory headwinds which dominated the year to deliver a solid performance across all financial and non-financial indices.

    He further stated that “We are transforming our organization into a platform for enriching lives by positioning ourselves at the centre of an extended ecosystem that offers our stakeholders, benefits beyond banking. We also remain committed to maximising shareholders’ value and delivering superior and sustainable return, guided by our founding values of hard work, discipline and integrity. 

    GTBank has continued to report the best financial ratios for a Financial Institution in the industry as revealed by its return on equity (ROE) of 35.96% and cost to income ratio of 40.76% evidencing the efficient management of assets and operational efficiency. Overall, the Bank has enshrined its position as a clear leader in the industry. In recognition of its innovation and hard work, the Bank received over 20 international awards in 2016.

  • GTBank hauls merit awards in Lagos

    GTBank hauls merit awards in Lagos

    Guaranty Trust Bank has emerged the best winner in the 2017 Electronic Payment Incentive Scheme (EPIS) Awards organised by the CBN and Nigeria Inter-bank Settlement System (NIBSS).

    The GTB said in a statement on Thursday that the awards had reaffirmed its position as Nigeria’s leading financial institution on e-payments with its emergence as a multiple award winner at the EPIS awards.

    “With six awards, GTBank took home half of the dozen honours won by banks at the ceremony,’’ it said.

    GTB said it had the highest number of the awards presented to the financial institutions, Fin-techs, merchants and other stakeholders in the Electronic Payment Incentive Scheme.

    It said that the EPIS Efficiency Awards ceremony was instituted to reward and celebrate financial institutions, merchants and other stakeholders at the forefront of driving electronic payment in Nigeria.

    The GTB listed some of the awards it received to include the Best Customer Experience Award (Electronic Payment Platform Experience).

    It said this award was given to the bank for achieving the highest level of overall customer satisfaction in the delivery of electronic payment services to customers.

    The GTB also said it won instant payments for its outstanding performance in recording the highest transaction count on the NIBSS Instant Payments (NIP) Platform and the Cashless Driver:

    It also won the Point of Sale (POS) Issued Cards’ Transactions for having the highest Point of Sale (PoS) transaction count on the National Central Switch with Issued Payment, among others.

    Alhaji Suleiman Barau, the CBN Deputy Governor, (Operations Directorate), said that the organisers were delighted by these achievements.

    “We are delighted and proud to recognise, encourage, appreciate and reward financial, non-bank and other stakeholders in the EPIS that has been driving the electronic banking channels in Nigeria,” said, at the EPIS efficiency awards.

    Mr. Adebisi Shonubi, the Managing Director of NIBSS, said that the event was a reward for all the years of commitments by stakeholders in the finance industry who had tried to push forward Nigeria’s quest for electronic payment.

    Mr. Segun Agbaje, GTBank Managing Director, said that he was happy for the awards.

    “We are incredibly excited to receive such outstanding honours from the apex regulators in the banking sector. Receiving these awards is indeed humbling and we are encouraged to continue to do more.

    “As a bank, we will continue to focus on digitising our services and creating a well segmented and integrated customer experience,” Agbaje said.

    The bank’s latest e-payment service, known as 737 banking, was adjudged the best banking product in Africa at the 2016 Asian Banker Awards.

     

  • GTBank – Principals Cup Season 8 kicks off

    GTBank – Principals Cup Season 8 kicks off

    Foremost African Financial Institution, Guaranty Trust Bank plc, has announced the commencement of Season 8 of the GTBank Principals’ Cup.

    For the past 7 years, GTBank has continued to promote grassroots football through the organization of the prestigious Principals Cup competition, which is one of the largest grassroots competition in Africa. The Guaranty Trust Bank plc sponsored tournament, which is aimed at actively engaging secondary school students through sports whilst promoting the values of excellence and fair play, provides a platform for identifying, nurturing, grooming young and talented players and also helping students work towards their dream of being world class footballers.

    Season 7 of the Principals Cup produced an exhilarating encounter with over 360 teams competing to be the ultimate champions of the prestigious tournament. In the boys’ category, Dairy Farm Senior Secondary School completed a hatrick of championships (after winning in 2012 & 2014) and became the first team to permanently retain the trophy while Ikotun Senior High School held unto the cup in the girls’ category. About 370 schools comprising of girls and boys from various secondary schools in Lagos State will compete in the 2017 edition (Season 8) of the Principals Cups competition.

    While commenting on the importance of education in nation building, Mr. Segun Agbaje, Managing Director, GTBank said that “Sports and education are fundamental in fostering camaraderie and discipline amongst youths and imperative to their development. We are therefore proud to be pioneers of this initiative that provides an avenue for students to showcase their talents and passion for the game of football whilst staying in school”.  He further stated that “At GTBank, we will continue to invest massively in youth development through education and sports in order to help more youth people actualize their dreams.

    Over the years, the GTBank Principals Cup has launched the professional careers of several talented players. In 2015, Yetunde Fajobi joined the Nigeria U17 Female Team – The Flamingos- having played in the 2014 edition, where she powered her school, Government Secondary School Agege to victory and emerged the most valuable player of the 2014 season. 2012 MVP Steven Odey also joined the MFM FC in the Nigerian Professional League in 2016, and now in his second season, he scored the first hatrick in the season and is currently the highest goal scorer.

    Guaranty Trust Bank, a youth oriented brand maintains the lead in providing support for education and sports to enable young boys and girls explore their talents and reach for their dreams. It is one of the few Nigerian financial institutions that have maintained a defined Corporate Social Responsibility (CSR) strategy, most especially in sports education. The Bank actively supports in-classroom and out-of-classroom educational programmes, infrastructure development, students’ scholarship and teachers training across Africa.

  • Police, INEC: We are ready for Ondo poll

    Police, INEC: We are ready for Ondo poll

    The police and the Independent National Electoral Commission (INEC) on Friday declared their readiness to conduct a hitch-free election on Saturday.

    Former INEC Acting Chairman, Amina Bala Zakari , said effort would be made to avoid an inconclusive election.

    The Resident Electoral Commissioner (REC), Mr. Segun Agbaje, said all electoral materials had been distributed.

    He said the commission was more determined to prosecute anyone who violated the Electoral Act.

    Zakari and Agbaje spoke when they briefed international observers, including representatives of the United Kingdom, German and the Netherlands embassies at the INEC headquarters in Akure.

    Residents were seen in last minute shopping as they prepare for Saturday’s polls. The markets and banks were busy.

    Agbaje dispelled rumours that the election had been postponed till December 19. He said the poll would hold on Saturday as scheduled.

    He said sensitive materials were distributed on Thursday and Friday to the local government areas, from where they will be taken to the polling units on Saturday.

    Agbaje said smart card readers had been configured to ensure that voting does not go beyond the stipulated time.

    He said when fully charged, the machines could work for 10 hours.

    The REC said effort was being made to ensure there were little or no hitches.

    Agbaje said accreditation and voting would be done simultaneously which he believes would “help capture more voters.”

    The Deputy Inspector-General of Police in charge of Operations, Joshak Habila,  said anyone found inducing voters with money would be arrested no matter how highly placed.
    The DIG, who is the ground commander-in-charge of Ondo governorship election, said every arrangement had been made to ensure there were no security breaches.
    Habila is being assisted by two Assistant Inspectors-General of Police, Paul Okafor of Zone 11 and E. S. Saha of the Air Wing.
    Each senatorial zone is headed by a commissioner of police.
    The DIG said over 26,000 policemen had been deployed to ensure a smooth election.
  • ‘We’re not privy to allegation against Ondo REC’

    ‘We’re not privy to allegation against Ondo REC’

    The All Progressives Congress in Ondo State on Monday debunked the report calling on the Police and Directorate of State Security (DSS) to investigate the activities of the Independent National Electoral Commission (INEC) in the state.

    The state Publicity Secretary, of the party, Omo’ba Abayomi Adesanya, in a statement last Wednesday, also expressed the need for the total overhauling of staff in the Commission ahead of the November 26 governorship election in the state.

    Adesanya accused the Resident Electoral Commissioner (REC) Segun Agbaje and the Commission’s Administrative Secretary, Alhaji Kabir Omosanya of complicity with the faction of the Peoples Democratic Party (PDP) in the State led by one Clement Faboyede.

    He alleged that the two top officers of the commission have been having shady deals through an unholy alliance with key loyalists of the  Governor Olusegun Mimiko to perpetrate fraud ahead of the forthcoming governorship poll.

    However, the APC chairman in the state, Isaac Kekemeke said his executives were not privy to the statement.

    According to him,“before any statement of such could be made public,or even any policy statement from the party executives,it must be agreed upon and ratified by the party executives.

    “But the publicity secretary who issued the statement to the press must have equipped himself with facts of the allegation,which spurred him to unilaterally fired the shot without inputs of the state excos.”

    Kekemeke said he received calls from many APC leaders within and outside the state on the sensitive allegation in order to ascertain its veracity,saying“I just told them that Adesanya must have got the proofs of the allegation before issuing the statement.

    “Although,the allegation had caused a lot of embarrassment to the party,but as the Party Chairman in the State,I have no pre-knowledge of the allegation,and none of my state executives was aware of it,we did nt discuss it at any of our meetings and as such,we are not a party to the allegation against the REC”

    The legal practitioner said the state executive remains committed to the victory of APC in the state on November 26.

    Kekemeke urged party members to work to remain calm and mobilise voters for the poll.

  • Segun Agbaje scoops another award

    Segun Agbaje scoops another award

    Guaranty Trust Bank CEO Segun Agbaje is one man who strives for excellence in life and business. His dedication and committed leadership has helped to position GTBank as a major player in the financial services industry. Since he assumed the helm of the bank some years ago, it has witnessed a rise in fortune.

    The transformation is such that the bank has been scooping awards more regularly than before. The accolades come from such areas as exceptional service delivery, innovation, corporate governance, corporate social responsibility and management quality. Some of the awards received by the bank since his appointment as chief executive officer include Best Bank in Nigeria by Euromoney; African Bank of the Year by African Banker Award; Best Bank in Nigeria by World Finance UK; Most innovative Bank by EMEA Finance; Best Banking Group by World Business Leader Magazine and Best Bank in Nigeria award by the Banker Awards.

    The tireless leader of GTBank recently added a feather to his cap in form of the 2016 Ai Socially Responsible Investment (SRI) 30 CEO of the Year award at this year’s 9th annual Ai CEO Investment Summit, which took place on the sidelines of the UN General Assembly. The prestigious Ai Institutional Investment and Capital Market Awards was instituted in 2007 and honours the best performing stock exchanges, listed companies, investment banks, research teams, regulators, socially responsible companies and sovereign wealth and pension fund investors out of Africa.

    With this award, Agbaje joins an exclusive list of African CEOs recognised for exceptional contributions to the business climate. In his usual humble manner, the soft-spoken man deflected all praises and instead dedicated the award to the entire GTBank work force.

  • Agbaje, Mo Abudu, others celebrate Williams at 30

    Agbaje, Mo Abudu, others celebrate Williams at 30

    Media entrepreneur, Adebola Williams on Thursday hosted friends and associates to a birthday dinner at the Oasis Medspa, Ikoyi, Lagos.‎

    Guests in attendance include the GTBank MD/CEO, Segun Agbaje, Tonye Cole, Pastor Tony Rapu, Mo Abudu, Osayi Alile, Aisha Ahmad, Sarah Sosan, Agatha Amata and Lanre Da Silva Ajayi.

    Others present to celebrate with the RED Co-founder were Kate Henshaw, Rita Dominic, Ramsey Nouah, Omawumi, Banky W, Nse Ikpe Etim, Kola Oyeneyin, Michelle Dede, Mo’Cheddah, Gbemi Olateru-Olagbegi and more.‎‎

    Photos below:

    Adebola Williams
    Adebola Williams, the celebrant
    Adebola Williams and Father
    Adebola Williams and Father
    Adebola Williams and Rita Dominic
    Adebola Williams and Rita Dominic

     

    Azuka Ogujiuba and Lanre Dilsilva-Ajayi
    Azuka Ogujiuba and Lanre Dilsilva-Ajayi
  • Segun Agbaje’s latest move

    Segun Agbaje’s latest move

    It seems that the recent plunge in the value of naira has begun to hit hard on the banking sector, as the Managing Director of Guaranty Trust Bank, Segun Agbaje, has deemed it beyond necessary to bring to an abrupt halt the frivolous spending of senior members of the thriving financial institution. Strict measures have been temporarily introduced to the company’s policy to curb wasteful and unnecessary spending on projects or tasks that are not approved by Agbaje. Senior members of GTBank are currently grieving over the end of their frequent trips outside the country, with the banking guru insisting that “Skyping” should be substituted for trips abroad for foreign meetings. Agbaje also insists that any expense on media and advertorial must be approved by him. These policies are as a result of the recent harsh economic state, especially the discouraging value of the naira against the dollar.

  • INEC lauds Osun voters

    INEC lauds Osun voters

    The Independent National Electoral Commission (INEC) is satisfied with the peaceful and orderly conduct of yesterday’s governorship election in Osun State.

    The Resident Electoral Commissioner (REC) in the state, Mr. Segun Agbaje said the conduct of the election has shown that democracy is working.”

    “We do not expect anyone to be disenfranchised. We have put everything in place to ensure that everyone who turned out must vote. We thank the people of the state for heeding our call to come and vote in a peaceful and orderly manner,” Agbaje said while monitoring the election.

    In Iremo ward 3, Ife Central, the REC commended the voters for orderly conduct and praised the INEC officials for following due process during the election process. In Osogbo, Agbaje who went round different polling units said the conduct of the election was satisfactory.

    “We expect the process to end very well, we have done everything that is required of us to do for the process to end very well,” he said.

    But he denied that the process was militarized.

    He added: “I didn’t see too much of security. We asked for security for the voters and our personnel and that is what we got. The most important thing is that everyone is safe.”

    The INEC boss said reports of arrests of political leaders did not affect the conduct of the election. On the number of registered political parties,  Agbaje said two candidates pulled out. “Two candidates pulled out, we received their letters but we said it did not follow due process because no candidate can pull out less than 45 days to the election.”

    He said even though there were 20 political parties registered on the ballot paper, only 18 candidates were eligible for the election.

  • Segun Agbaje celebrates 50th birthday in London

    Segun Agbaje celebrates 50th birthday in London

    It was meant to be a low-key party, but the presence of top dignitaries at the 50th birthday celebration of Segun Agbaje was an indication that the Managing Director of GTB is a gold fish that has no hiding place. So, it was another moment of jollity and conviviality in London penultimate weekend as frontline Nigerian businessmen, politicians, bankers, socialites and celebrities gathered to celebrate the eminent banker.

    It was an event that spoke volumes about Agbaje’s influence and social standing. London-based DJ, Cuppy, was in the house to entertain the A-list guests.‎ Cuppy, apart from being the heiress to Femi Otedola’s multi-billion dollar business empire, is also pulling her weight as a female in a male-dominated music sector. Some of the guests were said to be so impressed with her performance that they rained dollars and pound sterling on her.