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On 12 March 2008, GTBank was given a banking licence for the United Kingdom by the Financial Services Authority. [14] Guaranty Trust Bank Limited is a partner of Eko Atlantic City, a newly made island (820 ha.) in the Atlantic ocean, adjacent to Victoria Island, Lagos. It will be the home of the new Financial District.
Between 2005 and 2008, Fina Bank Kenya established subsidiaries in Rwanda and Uganda, forming the Fina Bank Group. In 2013 Guaranty Trust Bank of Nigeria, acquired 70% shareholding in Fina Bank Group for a cash consideration of US$100 million. [3] In January 2014, Fina Bank Kenya and her subsidiaries rebranded to reflect the change in ownership.
GTB was involved in the stock market scam of 2001, that the stockbroker Ketan Parekh ran. GTB lent heavily to individuals speculating in the stock market; when the market crashed the bank suffered extensive losses. One consequence was that merger talks with UTI Bank fell through. The Reserve Bank of India (RBI) forced Gelli to resign. Gelli's ...
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In 2008, Fina Bank opened banking operations in Uganda as well, forming the Fina Bank Group. In 2013, Guaranty Trust Bank (Kenya) ltd acquired 70 percent shareholding in the Fina Bank Group for a cash payment of US$100 million. [3] In January 2014, the bank rebranded to reflect the new ownership structure. [4] GTBank Rwanda current Headquarters
As of December 2019, GT Bank Uganda had assets valued at UGX:225 billion (approx. US$58.22 million) with shareholders equity of UGX:38 billion (approx. US$9.83 million).). That calendar year, the institution made UGX:2 billion (approx. $518,000) in pre-tax profit and UGX:1 billion (approx. $259,000) in after-tax profit, the first time the institution was profitable in the previous 12 ye