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GT Bank announces early closure for new year celebrations

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Guaranty Trust Bank (GT Bank) has notified its customers about an early closure of all branches on December 31, 2024.

As gathered by the Diaspora Digital Media (DDM), the decision comes as the bank prepares for the New Year celebrations across Nigeria.

In a message released on Friday evening, GTBank detailed the adjusted closing times for its branches.

Upcountry branches will close at 2:00 PM, while those in Lagos will close an hour later, at 3:00 PM.

The bank encouraged customers to plan their transactions accordingly to avoid any inconvenience.

GT Bank emphasized the importance of utilizing its digital banking platforms.

It said customers can access secure and user-friendly online services throughout the day.

The bank assured that services including account management, fund transfers, and bill payments, to ensure that banking remains accessible even during the early closure, is available.

However, in its communication, GT Bank expressed gratitude for customers’ understanding and cooperation.

The bank wishes all its customers a joyful and prosperous New Year.

About GTBank: A Brief History

Guaranty Trust Bank Plc (GT Bank) was founded in 1990 as a limited liability company.

It operates under the regulation of the Central Bank of Nigeria, providing a range of commercial banking services.

The bank commenced operations in 1991 and inaugurated its first head office on February 11, 1991, located at The Plaza, Adeyemo Alakija, Victoria Island, Lagos.

In 1992, GTBank opened two branches in Lagos, specifically in Ikeja and Broad Street.

The bank expanded further by establishing its first upcountry branch in Kano and a branch in Port Harcourt in 1993.

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In September 1996, GTBank became a publicly traded corporation.

It received the President’s Merit Award from the Nigerian Stock Exchange, marking a significant milestone in its development.

The bank obtained a universal banking license in February 2002 and was designated as a settlement bank by the Central Bank of Nigeria in 2003.

That same year, GTBank expanded internationally by incorporating subsidiaries in The Gambia and Sierra Leone.

In 2004, GTBank successfully conducted its second share offering, raising over ₦11 billion from Nigerian investors to support its expansion efforts.

By July 26, 2007, GTBank became the first bank in Sub-Saharan Africa to be listed on the London Stock Exchange and Deutsche Börse.

This initial public offering raised an impressive US$750 million, underscoring the bank’s strong market presence.

GT Bank made history again by issuing Nigeria’s first private Eurobond in 2007, valued at US$500 million.

This Eurobond was a significant achievement for a Nigerian corporate entity and demonstrated GTBank’s ability to access international capital markets effectively.

The bank has received high ratings for its long-term debts, earning a BB- rating from Standard & Poor’s and an AA− rating from Fitch Ratings.

These ratings are among the highest for any Nigerian bank, reflecting GT Bank’s financial stability and reputation.

Innovations  by GT Bank

GTBank has been at the forefront of digital banking innovation in Nigeria.

It introduced online banking, SMS banking, and various payment cards, including the naira-denominated MasterCard.

The bank also launched mobile branches under the GTB-on-wheels initiative, enhancing accessibility for customers.

On March 12, 2008, GTBank received a banking license in the United Kingdom from the Financial Services Authority, marking its expansion into international markets.

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Additionally, GTBank partnered with Eko Atlantic City, a newly developed island adjacent to Victoria Island, Lagos, which aims to become a major financial district.

To commemorate its 20th anniversary, the Nigerian Postal Service issued a set of GTBank Anniversary postage stamps, a first for any corporate organization in Nigeria.

By 2011, GTBank emerged as the largest bank in Nigeria by market capitalization.

In 2013, it acquired a 70 percent stake in the Fina Bank Group for US$100 million, subsequently rebranding its branches to GTBank.

That same year, the bank issued a US$400 million Eurobond, achieving a competitive coupon rate of 6%.

GT Bank currently employs over 10,000 individuals, highlighting its significant contribution to the Nigerian economy.

In May 2021, the bank announced a corporate restructuring, transitioning to a holding company model.

This change was ratified by shareholders on December 4, 2020, further positioning GTBank for future growth and success.


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