In 1990, the guaranty trust bank was founded; its sole aim was to provide services, such as banking and commercial service to the citizens of Nigeria. Although it was incorporated on 17 January 1990, the operation fully commenced in February 1991, and since then t has emerged as one of the fastest-growing banks in Nigeria. Five years into its emergence in September 1996, the bank won the Nigeria stock exchange president’s merit award and also became a publicly quoted company that same year. In 2000 2003,2005,2006,200,2008 and 2009 they subsequently won the presidents. The CBN appointed the bank a settlement bank in 2003 and prior to that in 2002 it was granted a universal banking license. Guaranty trust bank raised over one billion naira from investors in Nigeria after it undertook the second stock offering to expand its operations, to enable it to compare with other financial institutes globally.
After their consolidation, they took a decision to pursue actively retail banking, providing services to the entire public, not just companies, corporations, etc.
Guaranty trust bank is also the first bank in the history of Nigerian banks and financial institutions to take a regulation S Eurobond issue of USD$350 million and also a USD$750 million deposit receipt offer in 2007. This also made the bank the first Nigeria Company and African bank to appear on the London stock exchange.
Subsequently in the year 2019, the GTBank also came out as the Best Bank in Africa including the Best Bank in Nigeria, by Euromoney Magazine, and the Best Banking Group and Best Retail Bank Nigeria by World Finance Magazine.
Motto of GTBank
Their motto is: We are reliable, what we say is what we do; trust us to always do what is right. We care, we believe in building and sharing for the good of all.
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Who Owns GTBank?
Mr. Tajudeen Afolabi Adeola founded GT Bank plc alongside his childhood friend Olutayo Aderinoku, who was working at the continental merchant bank at that time.
They were both 33 and 34 years respectively when they applied to get a baking license. They got the license on the 2nd of August 1990. Mr. Adeola was the managing director while Mr Olutayo was the deputy managing director for 12 years, after which Mr. Adeola retired on July 31, 2002, handing over the position to his partner Olutayo, Mr. Olutayo was the managing director until he died in 2011.
Can I Open a GTB account Online?
The answer to the above question is yes. Thanks to globalization and the wide spread of internet service it has become an easy thing to open and operate bank accounts without visiting their branches. With GTB the process is easy as long as you have the following items:
- A valid identity card
- One passport photograph
With the above items in your possession, you are ready to open and operate a GTB account, all you need do next is to go to their site and follow the instruction to open the type of account you wish to operate and within a few minutes, you will be done with open a GTB account. On the other hand, for persons without smartphones that wish to open a GTB account yes you can still open an account without the use of the internet, but by using the GTB mobile short code which is *737*0# so at the end of the day both smartphone users and non-smartphone users can open and operate a GTB account.
Types of Accounts You can Open with GTBank
GTB Zero Account
A zero account is an account that individuals can open without depositing money in it. When opening the account, you’ll need the following:
- A well-signed copy of the account opening form.
- Any relevant means of identification (Driver’s License, International passport, National I.D Card
- One passport photograph.
- Utility bill issued within the last 3 months.
GT Save Account
This is a savings account with a daily interest rate of 1.15%, and unlimited access to internet banking, it is an account mostly used by students, as it gives them easy access to their funds whenever and wherever they need it as it doesn’t require them to go to the bank for every transaction. To open and operate this type of account you need the same requirements like the zero account.
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GT Patriot Account
This type of account has both the savings form and the current form. It is an account available for just military and paramilitary citizens of Nigeria and is specifically designed to meet their financial needs. This account gives the holder an awesome interest rate, access to loans, and above all you do not need money to open the account and you can withdraw your money down to the last kobo.
GT Target Account
Just like the name implies it’s a GT savings account designed to help you save towards a particular thing. The object for which you are saving doesn’t matter when it comes to the GT Target account because it is covered. Interest is paid based on how much you save and if you’re consistent in six months, the least deposit you can make into your GT Target account is five hundred naira.
Gtcrea8 Savers Account
This is card-based interest savings account for students between the ages of 16 and 25, but most undergraduates allow them to add banking relationships using our electronic channels. The cards are also classy and trendy to fit the students.
How Easy is it to Use the GTBank Mobile Banking app?
Like every other mobile banking app, using the Gtbank app is quite easy. The first step is to download the app, then register your details using the phone number that you used when opening the account, after all registration is done, the app is ready to be used. The mobile banking app has also helped ease the stress of standing in long queues at banking halls. All your transactions can easily be done from wherever you are at any given time too. You can also send foreign currencies to via the mobile app.
Lastly in July 2021 following the corporate reorganization of Guaranty Trust Bank PLC into a Holding Guaranty Trust Holding Company PLC also known as GTCO PLC which [is a multinational financial services group, that offers retail and investment banking, pension management, asset management, and payments services was introduced. Making it provide services beyond banking services.
