[ 2015-01-31 ]

GTBank awarded for Best Corporate Governance Practices in Africa
The GTBank group, represented by Guaranty Trust
Bank Plc, has been awarded ‘Best Corporate
Governance, Africa 2015’ for the Financial
services category by the Ethical Boardroom
Magazine UK.

The ‘Corporate Governance Award’ organized by
Ethical Boardroom magazine recognizes outstanding
companies who have exhibited exceptional
leadership in the area of governance and
professional ethics to ensure protection and
long-term value for all their
stakeholders.

The award is an acknowledgement of the Bank’s
strong corporate governance practices, commitment
to high standards of ethical leadership and
compliance with regulatory standards.

According to the Group Managing Director and Chief
Executive Officer of Guaranty Trust Bank plc, Mr.
Segun Agbaje, “GTBank has built a reputable
institution which consistently adopts, implements
and applies international best practices in
corporate governance, service delivery and value
creation for all its stakeholders”.

“We are delighted to receive this award which
affirms GTBank's position as one of the leading
Banks in Africa whilst also reiterating and
confirming our commitment to ethics,
professionalism, integrity, quality service
delivery, innovation and internationally accepted
corporate governance standards”, added Mr
Agbaje.

The Managing Director of Guaranty Trust Bank
(Ghana) Limited, Mr. Lekan Sanusi, re-echoing
comments made by Mr. Agbaje stated that, “This
recognition is an attestation to all customers and
other stakeholders that they are dealing with a
strong financial institution that is widely
respected for its business practices and values
internationally”.

GTBank Plc was the first Nigerian Bank to be
awarded an ISO 9001: 2000 certification by the
International Standards Organization and the first
to adopt the IFRS reporting format. The Bank has
the best risk category rating assigned to any
Nigerian Bank by both local and international
rating agencies (BB- by Standard & Poor’s and B+
by Fitch Rating), which is extremely compliant
with International best practice and standards.

Similarly, GTBank Ghana is ISO 9001:2008 certified
and adopts the IFRS reporting format.

The parent company, GTBank Plc, ensures compliance
with the Code of Corporate Governance for Public
Companies issued by the Securities and Exchange
Commission (‘the SEC Code’), the Code of
Corporate Governance for Banks in Nigeria, Post

Consolidation issued by the Central Bank of
Nigeria (‘the CBN Code’), as well as
disclosure requirements under the Disclosure and
Transparency Rules of the Financial Services
Authority (FSA) in the United Kingdom, which are
applicable to non-UK companies with GDRs listed on
the London Stock Exchange. In addition to the Code
of Corporate Governance, GTBank promotes the
company’s core values to its employees through
its Code of Professional Conduct and an Ethics
Policy which regulates employee relations with
internal and external parties across all
subsidiaries.

GTBank has received several international and
national awards from reputable organizations for
its exceptional financial performance, innovation
and excellent customer service delivery. Some of
the awards received in 2014 include; the 2014
African Bank of the Year by African Banker, the
2014 Best Bank in Africa and Best Bank in Nigeria
by Euromoney Magazine, 2014 Best Bank in Nigeria
award by The Banker, 2014 Best Commercial Bank and
Best Corporate Bank in Nigeria by International
Finance Magazine and 2014 Bank of the Year award
by BusinessDay.

In Ghana it was named Best Bank, Product
Innovation; 1st Runner-up, Most Active Ezwich Bank
and 2nd Runner-up, Best Bank in Competitive
Pricing – Enterprise Banking during the 2014
Ghana Banking Awards ceremony.

The parent company, Guaranty Trust Bank was
established in 1990 and presently operates from
over 240 offices in Nigeria and has banking
subsidiaries in Ghana, Gambia, Sierra Leone,
Liberia, Cote d’Ivoire, Rwanda, Uganda, Kenya
and the United Kingdom.

Source - MyjoyOnline

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