African financial institution Guaranty Trust Bank plc. has been named the “2016 Most Innovative Bank in Africa” by African Banker Magazine at the prestigious African Banker Awards which took place on the sidelines of the AfDB annual meeting on Wednesday, 25 May, 2016 in Lusaka, Zambia.
Now in its 10th year, The African Banker Awards is internationally recognised as the landmark finance event to reward achievements, commend best practices, and celebrate excellence in African banking. The award provides a platform to bring together industry leaders from across Africa, celebrate the achievements of those driving economic growth, and shaping the future of Africa.
Commenting on the awards ceremony, Publisher of African Banker Magazine Mr Omar Ben Yedder said: “Technology is constantly shaping the banking landscape and the bank of tomorrow will be those who continually leverage advancements in technology to pioneer innovative products and services to create sustainable value for their stakeholders and improve the overall customer experience. GTBank, through the introduction of its Bank 737 – a product that allows customers perform basic banking functions from the comfort of their mobile phone without the need for data – has redefined the traditional bricks and mortar experience to a swift, convenient, and mobile user-friendly experience.”
He further stated that: “In today’s banking, there is no room for complacency as there is so much expectation for growth and development to ensure we achieve the transformation we all desire and work towards. Seeing a local African bank take the initiative in leveraging technological advancements to drive inclusive banking across Africa is highly commendable.”
Receiving the award on behalf of the Bank, Segun Agbaje, Managing Director/CEO of GTBank, said: “We are delighted and honoured to be recognised as the Most Innovative Bank in Africa. For us, winning this award is an attestation of our commitment to continually pioneering new innovative products and services that enable us push the frontiers of service delivery. Our vision has always been to create an oasis of excellence in Africa, and buoyed by this accolade, we are determined to achieve more and consolidate our leading position in the banking industry by radically adopting innovative solutions, pursuing collaborations, and maintaining a high standard in creating sustainable value for stakeholders.
GTBank has consistently played a leading role in Africa’s banking industry and reported the best financial ratios for a financial institution in the industry with a return on equity (ROE) of 25.5% and a cost to income ratio of 44.4%, evidencing the efficient management of the bank’s assets. Overall, the bank has enshrined its position as a clear leader in the industry.
In due recognition of the Bank’s leading role in Africa’s banking industry, owing to its bias for world class corporate governance standards and excellent service delivery and innovation, GTBank was recognised in 2015 as the Best Bank in Nigeria by Euromoney, Bank of the Year by African Investor and Best Banking Group Nigeria by World Finance Magazine.