Guaranty Trust Bank (GTBank), for the second consecutive year, has been named “Best Bank in Nigeria” by Euromoney magazine. The award was presented to the bank at the 2010 Euromoney Awards for Excellence Dinner in London yesterday.
According to a statement, Euromoney Editor, Clive Horwood, said the Award recognized “GTBank’s strong performance during one of the most difficult periods ever for the Nigerian banking sector,” adding that “deposits grew 45 per cent and the bank was also the most profitable in the country, with a $169 million profit, stressing that GTBank also managed to increase its assets, which none of its nearest rivals managed.”
The Deputy Managing Director of GTBank, Segun Agbaje, said the award, coming in the year when the bank marks its 20th Anniversary, is testament to the timelessness of the bank’s commitment to its core values of integrity, professionalism and service excellence.Agbaje also commended the commitment of all GTBank staff around the world for their continuous effort at ensuring that the bank continually sets the pace and remains a proudly African, truly international institution.
Regarded as the benchmark awards for financial services globally, the Euromoney Awards for Excellence are now in their 20th consecutive year. This year’s awards process, which began in April, attracted over 600 submissions from the world’s banks and brokerage houses. Euromoney’s dedicated research team and awards panel then rated all the submissions on both quantitative and qualitative factors such as KPI’s, financial ratios and innovation over the 12 month period to decide the award winners.