Guaranty Trust Bank plc has held the 24th Annual General Meeting at which the Bank’s 2013 financial results was presented to its Shareholders. The result which was approved last month by the Central Bank of Nigeria and released to the Nigerian Stock Exchange reported a Profit Before Tax of N107.09 billion.
According to information from the Bank, the Meeting held on Monday April 14th, 2014 at Shell Hall, Muson Centre, Lagos. The Meeting’s agenda included the receipt of the audited financial statement for 2013, declaration of dividend, election of members of the audit committee as well as authorization of Directors to fix the remuneration of Auditors. Additionally, Mrs. Osaretin Afusat Demuren was presented to shareholders for election as a Non Executive director of the Bank.
Mrs. Demuren was appointed as a member of the Board of Guaranty Trust Bank plc on April 17, 2013. She holds a Master of Science Degree in Economics and Statistics from the Moscow Institute of Economics and Statistics, Moscow, and a Diploma in Russian Language and Preliminary Studies from the Kiev State University, Kiev. She is a member of many professional associations including the Society for Human Resource Management of America, Nigerian Statistical Association, Chartered Institute of Personnel Management of Nigeria and the Chartered Institute of Bankers of Nigeria. She was at various times a Member and Secretary to the Public enlightenment Committee on Second-tier Foreign Exchange Market, a representative of the Central Bank of Nigeria on Special Investigation Panel on Trade Malpractices of the Federal Ministry of Commerce and Tourism.
Speaking at the Annual General Meeting, the Managing Director of GTBank; Segun Agbaje said, “At the onset of the 2013 Financial Year, our commitment was to continue our business in a manner that would be beneficial to all our stakeholders. This we planned to do by paying critical attention to service delivery, instituting innovative alternative channels that would enhance our customer experiences, expand our share of available business opportunities and grow our regional footprint in Africa. On all these fronts, we made appreciable progress, despite competitors offering basically the same services and the peculiarities of our operating environment. With our performance, we will maintain our commitment to maximizing shareholder value with a dividend pay-out of ₦1.70 per share, an increase of 10% over the ₦1.55 paid in 2012 and a share price appreciation of 17% in 2013.”
Guaranty Trust Bank plc was established in 1990 and is regarded by Industry watchers as the best run and most ethical financial institution within the Nigerian Financial Services space, due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank is one of the few Nigerian financial institutions to have a well articulated succession plan and this has enabled it seamlessly undertake two management and several board changes since its inception 24 years ago.
The Bank operates from over 230 branches within the country and has banking subsidiaries in Cote D’Ivoire, Gambia, Ghana, Liberia, Sierra Leone, Uganda, Kenya, Rwanda and the United Kingdom.