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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 ...
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.
Global Trust Bank (Uganda) Limited (GTBU), commonly referred to as Global Trust Bank (GTBU), was a commercial bank in Uganda which started operations in 2008 and was closed down in 2014. Its headquarters were located in a five-storey building on Kampala Road in the center of Uganda ’s capital, Kampala . [ 2 ]
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.
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.
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