I received a shocking message, or should I say, an exciting email from GTbank a few hours explaining how and why Guaranty Trust Bank is transitioning to a Holding Company structure. Initially, I thought maybe they have merged with other banking companies, but they have provided many questions and answers about the new development.Below is the information provided by Guarantee trust bank regarding the new changes
We are now a fully-fledged Financial Services Group. Guaranty Trust Holding Company Plc ("GTCO Plc") has been listed on the Nigerian Exchange (NGX) Limited and the London Stock Exchange, replacing Guaranty Trust Bank Plc. GTCO Plc will operate as the parent company of all Guaranty Trust banking businesses across Africa and the United Kingdom and other non-banking businesses, which we will establish following our transition.
This development is fascinating because transitioning to a Holding Company Structure enables us to create more value for you, deliver better results for all our stakeholders, and enrich lives in the communities we operate. In anticipation of some of the questions you might have, we have gathered the following information.
Why is Guaranty Trust Bank transitioning to a Holding Company structure?
Making financial services work for you goes beyond banking, and so should we. As part of our long-term strategy, we are entering the next phase of our growth wherein we want to create and drive innovative financial solutions that go beyond banking.
To do so, we were legally required to adopt a holding company structure, which we have now completed. This means we are able, ready, and well-positioned to help you achieve the full breadth of your financial goals, in ways we were limited, as
Will GTBank be changing its name or its logo?
No, legally and operationally, the name of the Bank remains Guaranty Trust Bank. The Bank has, however, transitioned from a Public Listed Company (GTBank Plc) to a Limited Liability Company (Guaranty Trust Bank Limited) with Guaranty Trust Holding Company Plc (GTCO Plc) as the parent company. Yes, the logo of the Bank would reflect its new status as part of GTCO Plc - the parent company of our banking businesses in Nigeria, Ghana, Kenya, Cote d'Ivoire, Liberia, Sierra.
Leone, Uganda, Rwanda, The Gambia, and the United
What does this mean for me as a customer?
Our transition to a holding company structure will have no effect on your status as a customer of Guaranty Trust Bank in Nigeria, and any Guaranty Trust Bank outside of Nigeria, including the United Kingdom. The transition will also not affect our banking operations in any way. You will continue to have unrestricted access to all our banking products and services in the same manner as you did before the transition.
Will I benefit from this transition to a Holding Company Structure?
Absolutely! As a Holding Company, GTCO Plc will set up new. Businesses that will offer you more value beyond banking. As your bank, we have always been committed to serving you simpler, cheaper, and faster. With the new Holding Company Structure, we will be able to go past our previous limits to play a deeper role in making life simpler and more enriching for you.
Is there anything required of me as a customer of the Bank?
Nothing at all. All our banking services are fully available, and all our branches are open to serve you. We would like you to continue to do one thing for us, though, and that is to remain confident in our ability to serve you. We do not take your trust lightly, and we remain committed to offering you simpler, better, and more efficient financial solutions in these uncertain times and beyond.