SINCE her husband, Segun Agbaje, became Managing Director of GT Bank Plc, Derin has left no one in doubt that she greatly complements his towering corporate status. The better half of the bank chief also takes time to rock the social scene. Blessed with a gait and poise, she is savouring the delight of owambe and corporate events. She has now become a permanent fixture in top-rate social gatherings. Despite this, she has continued to prove that behind every successful man, there lies a certain woman of steel.
Tag: Segun Agbaje
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Loyalty Reward Scheme for GTBank’s credit card holders
Guaranty Trust Bank plc has launched its new loyalty scheme exclusively for GTBank credit card holders.
The loyalty scheme is organized in partnership with Avios Group Limited; a British travel promotions company that specializes in points and air mile promotions.
The initiative according to the bank is part of the bank’s overall strategy to bring the best in card products to its customers.
“ It aims to reward international GTBank credit card holders for using their cards to pay for their purchases using Point of Sale terminals. With the GTBank credit card loyalty scheme, every card holder will obtain one Avios point for every 2 dollars spent from the card.
“ When reaching certain number of points, the card holder can use them to book flights or upgrade tickets on British Airways Airline. The amount of Avios points a customer need depends on the destination and class of travel, “ the bank explained in a statement.
The Managing Director Mr. Segun Agbaje said the bank believes that “ it is important to anticipate our customers’ desires, and tailor the most rewarding experiences for them.”
“ The collaboration with Avios Group Limited to introduce the rewards program cements our position as the best Bank in Nigeria, which is also in line with our strategy to serve our valued clients locally and globally. We are thrilled to be the pioneers of this initiative which will run till the 16th of March, 2015. ” Agbaje stated.
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GTBank acquires Fina Bank Group
Guaranty Trust Bank plc (GTBank), foremost African Banking Group has acquired a 70% stake in Fina Bank Group following regulatory approvals in three East African countries – Kenya, Rwanda, Uganda and Nigeria.
The bank acquired the stake in Fina Bank Group through a combination of capital injection as well as the acquisition of shares from its current shareholders for a total cash consideration of 8.6 billion Kenya Shillings.
The acquisition brings together two highly successful organizations with expertise across all banking segments and a new entity in each Country called Guaranty Trust Bank Kenya, Guaranty Trust Bank Rwanda and Guaranty Trust Bank Uganda.
Group Managing Director of GTBank; Segun Agbaje said the acquisition makes strategic sense for the combined customers and shareholders of the two banks.
“ Fina Bank has over the years built an enviable banking institution in East Africa, our combined strengths will help us build an attractive portfolio of leading products, services and marketing capabilities,”
Agbaje said. “We can now deepen existing and future customer relationships with differentiated capabilities to exceed customer expectations and grow market share. This merger also provides us with an attractive foothold in Kenya, Rwanda, and Uganda”.
“Over the next few months we will be in the process of integrating the new Fina Bank Group into the Guaranty Trust Bank Group. We assure you that this will not affect our operations and level of service delivery to our customers,”
Founder and current Chairman of Fina Bank Group; Mr.DhanuChandaria, said his bank was delighted to partner with GTBank, “an extremely successful African bank, and with whom we share a common philosophy on integrity, governance and transparency.”
“It is an honour for me to have been approached for a partnership with GTBank, whose high standards and capabilities we have been able to appreciate over the past 18 months. We look forward to working together to continuing to build the Bank, as part of the GTBank Group, leveraging on our respective strengths and creating a winning combination for all our stakeholders in East Africa.”
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GTBank launches ‘Social Banking’ on facebook
Guaranty Trust Bank plc has launched a ‘Social Banking’ service on Facebook.
The service allows the public open GTBank accounts and gets Customer Service support on the social media platform.
Speaking about the innovation which the first by a bank in the country, Chief Executive Officer of Guaranty Trust Bank plc; Mr. Segun Agbaje said the Bank’s objective is to engage the public where they work, live or play.
He said the new service would enable persons on social networks like Facebook commence a banking relationship and perform transactions at anytime, safely and conveniently, without having to leave the platform.
“This novel service presently allows people open GTBank accounts and get customer service support on Facebook and in a couple of weeks we will introduce new service options that include money transfers, airtime purchases and bills payment,” Agbaje stated.
He further affirmed that GTBank was committed to the convenience of its stakeholders and the Bank would continue to introduce value adding alternative channels into the future.
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GTBank declares N103 bn profit before tax
Guaranty Trust Bank Plc has declared a profit before tax of N103bn in its audited financial results for the December 2012 financial year.
The Group’s results released to operators of the Nigerian Stock Exchange also show improved Gross Earnings of N221.9 billion, 66% growth in Profit Before Tax to N103 billion (2011: N66.08 billion) and 69% improvement in Profit After Tax to N87.3 billion; (2011: N51.7 billion),
The Bank closed the 2012 financial year with an On-Balance Sheet size of N1.73 trillion (2011: N1.608 trillion) while Total Assets and Contingents stood at N2.26 trillion (2011: N2.14 trillion) representing a growth of 8% and 6% respectively.
Further analysis shows that deposit liabilities of the Group grew by 12% to N1.15 trillion in 2012, reflecting a decent growth of N120 billion from the N1.03 trillion closing position in the corresponding period of 2011. This growth in customer deposits fueled the increase in the loan book as Net loans and Advances closed at N783.9 billion, translating to a growth of 11% over the N707.05 billion in the comparative period of 2011. Shareholders’ funds increased from N230.4 billion in 2011 to N283.4 billion in 2012.
In terms of asset quality, the bank also impressed as Non Performing Loans (NPL) ratio stood at 3.4% compared to 3.5% in 2011, while Cost-to-Income ratio improved significantly to 42.7% from 52.9% in 2011. On the backdrop of this strong operating performance, Return on equity (ROE) and Return on Assets (ROA) closed at 33.9% and 5.2% from the 23.2% and 3.7% recorded in 2011, respectively.
The Bank’s stance as an upstanding social citizen and commitment to full disclosure was further evidenced by its 2012 tax liabilities, which came to over N16.3 billion. The total dividend payment for the financial year is projected at N45.62 billion (N1.55 per ordinary share of 0.50 kobo each).
Commenting on the results, Mr. Segun Agbaje, GTB’s Chief Executive Officer attributed the Bank’s success to its adherence to a defined growth plan, high corporate governance standards and the cultural values for which it is known.
He said these factors, coupled with a resourceful board, an in-depth understanding of the market and the passion of GTBank employees have enabled the Bank grow market share and continue to avail its stakeholders with value adding services.
