Euromoney, a renowned authority for global banking and financial markets, has awarded Guaranty Trust Bank Ltd (“Guaranty Trust” or “the Bank”) the title of Best Bank in Nigeria.
This marks an exceptional milestone as the Bank receives this accolade for the 12th time, solidifying its position as the leading financial institution in the country.
In their announcement, Euromoney stated, “Nigeria’s Best Bank, Guaranty Trust Bank, has continued to do a good job of convincing investors that it is better placed than its key competitors to deal with the risks ahead—and perhaps to take advantage of opportunities in economic and policy transition.”
Despite a challenging operating environment, Guaranty Trust Bank has consistently delivered outstanding results as the flagship franchise of Guaranty Trust Holding Company Plc.
The Bank achieved a profit before tax of ₦214.2 billion, a pre-tax Return on Equity (ROAE) of 23.6%, and a Cost to Income Ratio (CIR) of 48.0% for the period ending December 31, 2022.
Expressing her gratitude for the recognition, Mrs. Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said, “We are honored to be named the Best Bank in Nigeria by Euromoney.
This recognition reflects our unwavering commitment to the values of excellence and innovation, which are the foundation of our institution and have guided our remarkable success for over 30 years.”
As part of a thriving financial holding company, Guaranty Trust Bank will continue to prioritize service delivery and innovation while maintaining its strong financial performance.
The Bank’s dedication to upholding the highest standards of management has earned it a reputation as the best-managed financial institution in Nigeria, along with consistently leading key financial ratios in the country’s banking industry.
