Nigeria’s Guaranty Trust Bank is set to expand east of the Sahara according to a recent statement by the bank’s Chief Executive Officer, Mr. Segun Agbaje. According to him, the bank will open units in Kenya, Tanzania and Uganda in a move to launch its presence in east Africa.
GTBank will “acquire lenders that are not that large, but profitable in those countries in the short term,” Agbaje said. According to him, the bank is targeting the East African market in its move to tap into the region’s appreciable GDP, ease of doing business and investment climate.
GTBank posted a profit before tax of about N103 billion in 2012, a first in Nigeria’s banking history.
The bank has also launched a slew of innovative programs aimed at tapping Nigeria’s youth market from its digital/online TV platform, Ndani to its social banking initiative aimed providing its young customers with a convenient way to view their account balance, get airtime recharge, perform money transfers, pay bills, and open additional accounts through Facebook.