GTBank Marks 10 Years on London Stock Exchange
Foremost African financial institution, Guaranty Trust Bank plc, marks its listing on the London Stock Exchange.
To mark the 10th anniversary of this pioneering feat, the MD/ CEO of GTBank, Mr. Segun Agbaje led the Market Open Ceremony at the LSE on Friday, July 28, 2017, accompanied by senior representatives of the Bank and other institutional partners including JP Morgan, Morgan Stanley and Banwo and Ighodalo.
Recall that the bank became the first Nigerian bank to list on the London Stock Exchange (LSE), the first to dual list on an international exchange and the first Nigerian company to raise international capital using listed Global Depositary Receipts.
The London Stock Exchange is a diversified international exchange that offers international business, and investors, unrivalled access to Europe’s capital markets. In July 2007, GTBank embarked on a concurrent international and domestic equity offering by way of Global Depositary Receipts to raise funding for general corporate purposes. At the completion of this unprecedented offering, the Bank raised approximately US$825 million and became the first Nigerian company to obtain a full listing on the Main Market of the London Stock Exchange. Since its listing on the LSE, GTBank embarked on a decade of unparalleled growth, leading the financial industry in profitability and products and service delivery.
Commenting on the anniversary, Mr. Agbaje, said, “Listing on the London Stock Exchange, one of the most illustrious exchanges in the world, was a pioneering feat which remains fresh in our minds. We are very grateful to all our investors and partners for the integral role they played and their confidence in the Brand. Ten years on, we remain committed to maximizing shareholders’ value and delivering superior and sustainable return; guided by our founding values of hard work, discipline and integrity.”
Guaranty Trust Bank plc [GTB] offers a wide range of financial services and products throughout Nigeria, with strong footprints in West and East Africa, as well as the United Kingdom. In recognition of its leading role in Africa’s banking industry, world class corporate governance standards and excellent service delivery, GTBank has been recognized as the Best Bank in Nigeria by Euromoney (2016), the African Bank of the Year by the African Banker Magazine (2016) the Best Bank in Africa for Corporate Governance (2015) and the Most Innovative Bank in Africa by African Investor (2016).