Guaranty Trust Bank now open in Liberia

In line with its status as one of Africa’s foremost financial services providers, Guaranty Trust Bank PLC has expanded the scope of its operations in Sub-Saharan Africa with the opening of a Liberian subsidiary located at United Nations Drive, Clara Town, Bushrod Island, Monrovia, Liberia.

According to a press release from the bank, the Nigerian bank, which currently has a branch network which spans over 152 locations in Nigeria, has additional subsidiaries in The Gambia, United Kingdom, Ghana and Sierra Leone. The release added that GT Bank’s presence and activities in Liberia will herald a rise in trade and investment opportunities, as its Liberian subsidiary will enjoy the leverage of the GT Bank group’s enviable heritage and global connections.

In his reaction, Mr Lelean Sansi, the managing director of GT Bank Gambia sees the business convenience implications of the opening. "This is a very good development, as it will enhance the convenience of our Gambian customers with business offices or business partners in Liberia," he is quoted as saying. The release further said the achievement of GT Bank group showcases the quality and international reach of its Pan-African franchise. According to the release, GT Bank Sierra Leone Limited was adjudged "Financial Institution of the year 2006" during the annual Sierra Leone National Achievements awards in December 2006.

GT Bank Gambia was recently voted "The Bank of the Year 2008" by The Gambia Chamber of Commerce and Industry in February 2009, while GT Bank Ghana Ltd also recorded the landmark achievement of attracting a 15% investment in its equity by FMO in January 2007. Licensed as a Commercial Bank in 1990, GT Bank PIC commenced operations in February 1991 and was quoted on the Nigerian Stock Exchange in 1996. The Bank has a triple A (AAA) credit risk rating from Augusto and Co, the leading domestic rating agency in Africa’s most populous economy. It also has double A minus (AA-) and double B minus (BB-) risk ratings from two of the world’s leading international rating agencies.