Guaranty Trust Bank plc has been announced as the winner of the “2014 Product Leadership Award” at the 2014 Frost and Sullivan Excellence In Best Practices Awards Banquet that held on Thursday, 30th October, 2014 at the Monte Carlo Bay Hotel & Resort, Monaco, France.
Frost & Sullivan is a growth consulting firm that provides market research and analysis, growth strategy consulting, and corporate training services across multiple industries including banking, automobile, healthcare, internet and communication technology, and more. Its headquarters is located in California with offices in 31 countries across six continents.
Explaining the rationale behind GTBank winning the award, Frost & Sullivan stated that the award is in recognition of the Bank’s efforts to offer robust value to SMEs in Nigeria. Recognizing that accessibility remains a major challenge in the Nigerian banking landscape, GTBank introduced GTPay and GAPS platforms to facilitate quick, safe and efficient payment systems for SMEs. In addition, GTBank developed the SME MarketHub; an online e-commerce platform that allows SMEs create and maintain an online presence and expand their businesses to new markets as well as millions of buyers that are online. The introduction of the SME MarketHub continues to highlight GTBank as a frontrunner in innovative banking solutions, as e-commerce is widely acknowledged as a powerful tool for fully enhancing business possibilities as it opens up a world of businesses to customers and a world of customers to businesses.
Receiving the award on behalf of the Bank, Mrs. Lola Odedina; General Manager, Communication & External Affairs, GTBank stated that “The SME sector holds paramount towards the development of the Nigerian economy, as 96% of Nigerian businesses are SMEs. The Bank has continued to demonstrate its support for SMEs through the introduction of innovative products and services to boost their businesses.”
GTBank has consistently played a leading role in Africa’s banking industry and is regarded by industry watchers as one of the best run financial institutions on the continent. Its operations span 10 countries globally and its bias for world class corporate governance standards, excellent service quality, innovation and social responsibility have positioned it as a model institution in the financial sector.
The Bank has been the recipient of several international and national awards from reputable organizations for sound corporate governance principles and exceptional financial performance. Some of the awards received include: the 2014 Best Banking Website by Phillips Consulting, the 2014 African Bank of the Year by the African Banker Magazine, the 2014 Best Bank in Africa and the 2014 Best Bank in Nigeria from Euromoney Magazine.
Guaranty Trust Bank plc was established in 1990 and has within the last 24 years come to be recognized as one of the most innovative and service focused banks in the Nigerian financial market space. The Bank operates from over 230 branches in Nigeria and has banking subsidiaries in Cote D’Ivoire, the Gambia, Ghana, Liberia, Sierra Leone, Kenya, Uganda, Rwanda and the United Kingdom.