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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.
In 2004, Gelli briefly returned to the bank in February 2004 before being again forced to resign. [1] RBI examined GTB's accounts for 2001-2 and found that GTB's net worth had turned negative, but did not close the bank. [1] GTB did not address its problems. Instead, and despite its dire straits, GTB continued to grow.
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.
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
Online banking, also known as internet banking, virtual banking, web banking or home banking, is a system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website or mobile app. Since the early 2000s this has become the most common way that customers ...
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The bank has since expanded beyond Nigeria to other neighbouring African countries (The Gambia, Sierra Leone, Ghana and Liberia) and in United Kingdom. The bank became listed on the Nigerian Stock Exchange in 1996. [7] In 2002, Adeola voluntarily retired from Guaranty Trust Bank, after twelve years, handing over to his deputy, Tayo Aderinokun.
The bank opened a full-service location in Texarkana in 1997. [15] In April 1999, Guaranty opened a location in Pittsburg, Texas. [20] [21] Guaranty Bank & Trust opened a loan production office in August 2000 in Fort Stockton, Texas. [22] The Fort Stockton location became a full-service bank in December of that same year. [22]