Gtbank rated most admired finance brand in Africa

LAGOS – Nigeria’s foremost bank, Guaranty Trust Bank has emerged as the most admired finance brand in Africa.

The bank emerged, following an online survey carried out by Brand Africa 100: Africa’s Best Brands to mark its 10th anniversary. 

The survey assessed the top 100 admired brands in the continent with Gtbank coming first. The result of the survey will be published in the June edition of Africa Business Magazine. 

In a special report examining the results, founder of Brand Africa, Thebe Ikalafeng, said GTBank’s “clever marketing, global presence and some of its flagship food and fashion events have undoubtedly helped make it a fixture of daily life in some of its key markets, especially its home base Nigeria.”

According to him, Gtbank, which recently won plaudits for building a 110-bed Care Centre in response to the COVID-19 Pandemic, “has taken banking and finance to the people.”

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GTBank has long been regarded as one of Africa’s outstanding brands and enjoys a massive youth following thanks to its innovative and forward-thinking approach to financial services and customer engagement.

 It currently commands the largest social media following amongst all financial institutions in Africa and in 2019, the Bank hosted over 700,000 people at its consumer-focused events, GTBank Food and Drink Festival and The GTBank Fashion Weekend, which brought together business leaders and industry experts from around the world.

In 2019, GTBank removed all banking charges for young undergraduates under the age of 25 on its GTCrea8 Account Package. The move was unprecedented in the financial services sector but not unusual for a bank that had pioneered Zero-Naira Account Opening in the country, and in which people over the age of 65 also bank for free.

GTBank is also blazing the trail in digital technologies; after leading the USSD banking revolution in Nigeria with its 737 Service, the bank is driving the digitization of consumer lending with Quick Credit, a first-of-its-kind digital lending product that gives individuals and small businesses instant, real-time access to loans anytime, anywhere via their mobile phones.

Gtbank also pioneered banking with indigenous languages through the Automated Teller Machine, ATM.

In 2019, Gtbank was recognized as the Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine and the Best Banking Group and Best Retail Bank Nigeria by World Finance Magazine. 

In the same year, the bank also dominated the Central Bank of Nigeria’s Electronic Payment Incentive Scheme (EPIS) Efficiency Awards for the third year in a row, taking home 8 of the 12 honours for banks at the forefront of driving the digitization of financial services.