COVID-19: Gtbank grants 90 days moratorium on loans

LAGOS, Nigeria – Foremost financial institution, Guarantee Trust Bank has granted a 90 day moratorium on repayment of loans to small and medium scale enterprises in Nigeria as a result of the COVID-19 pandemic which has forced governments to apply strict measures, including lockdown as part of effort to tackle spread of the pandemic.

The bank granted the 90 day moratorium to SMEs in food and fashion industry who have obtained loans from the bank as well as Quick credit to run their business.

This is the biggest offer to come from any bank since the onset of the COVID-19 pandemic. Nigeria has reported 305 confirmed cases of the pandemic with strong potential for the figure to rise in the coming days.

Gtbank is making this offer after delivering a 110-bed Isolation centre to the Lagos State Government for the treatment of those infected with the COVID-19 pandemic.

The bank currently operates in Anglophone and Francophone West Africa, East Africa and Europe, with Asset Base of over N3.287 trillion and employs over 10,000 professionals in Nigeria, Cote D’Ivoire, Gambia, Ghana, Liberia, Kenya, Rwanda, Uganda, Sierra Leone, Tanzania and the United Kingdom.  

Established in 1990, on a foundation of excellence, professionalism and best practices, the bank’s consistent delivery of innovative financial solutions and exceptional customer experiences has enabled it to record year on year growth in clientele base and key financial indices since inception.

The Bank’s operation style, staff conduct and service delivery models are built on 8 core principles; Simplicity, Professionalism, Service, Friendliness, Excellence, Trustworthiness, Social Responsibility and Innovation, which reflects the bank’s vibrant Orange corporate colour. 

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“At GTBank we believe that of far greater importance to us, beyond providing first class service, is the role we play in developing our host communities. Hence, Social Responsibility forms a critical part of the GTBank business model and a significant share of our annual profit is channelled to strategic high impact projects that improve Education, Community Development, the Art and Environment”, the bank said online.

The Bank’s achievements over the years has led to numerous accolades in recognition of excellent service delivery, innovation, corporate social responsibility and good corporate governance.

In 2016, GTBank received several national and international awards for product and service innovation and sound corporate governance practices, such as: The Best Banking Group by World Finance Magazine, The Most Innovative African Bank by The African Banker Magazine, and The Best Bank in Nigeria and Best Digital Bank in Africa by Euromoney Magazine.

The Bank was also recognised as the 2016 Most Innovative Ai SRI 30 Company at the African Investor Awards and dominated the E-payment space by taking home six awards at the Electronic Payment Incentive Scheme (EPIS) awards organised by the Central Bank of Nigeria (CBN) in conjunction with the Nigeria Inter-bank Settlement System (NIBSS) for the 2016 calendar year. 

Gtbank hopes to build an enduring Proudly African and Truly International Institution that plays a fundamental role as a Platform for Enriching Lives by building strong, value adding relationships with our customers, stakeholders and the communities in which it operates.