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GTBank Releases 2020 Full Year Audited Results

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…….. Reports PBT of ₦238.1 Billion
Guaranty Trust Bank plc has released its Audited Financial Results for the year ended December 31,
2020 to the Nigerian and London Stock Exchanges.
A review of the result shows improved performance across all key financial metrics in the face of the
unprecedented challenges brought on by the COVID-19 pandemic, reflecting the quality of past decisions
and reaffirming its position as one of the best managed financial institutions in Africa. The Group reported
Profit before tax of ₦238.1billion, representing a growth of 2.8% over ₦231.7billion recorded in the
corresponding year ended December 2019. The Group’s Loan book (Net) grew by 10.7% from
₦1.502trillion recorded as at December 2019 to ₦1.663trillion in December 2020, while Customers’
deposits increased by 38.6% from ₦2.533trillion in December 2019 to ₦3.509trillion in December 2020.
Guaranty Trust Bank’s Balance sheet remained well structured, diversified and resilient with Total assets
and Shareholders’ Funds closing at ₦4.945trillion and ₦814.4billion respectively. Full Impact Capital
Adequacy Ratio (CAR) remained very strong, closing at 21.9%, while Asset quality was sustained as NPL
ratio and Cost of Risk (COR) closed at 6.4% (Bank: 5.9%) and 1.2% (Bank: 1.0%) in December 2020 from
6.5% (Bank: 6.2%) and 0.3% (Bank: 0.2%) in December 2019 respectively.
Commenting on the financial results, the Managing Director/CEO of Guaranty Trust Bank plc, Mr. Segun
Agbaje, said; “2020 was arguably the most challenging year that the world has faced in decades. In such
unprecedented times, we sought to live out the full extent of our values; safeguarding lives and livelihoods
for our people, our customers and across the communities where we operate. We were on solid footing
going into 2020; the strength, scale and liquidity of our balance sheet, coupled with the quality of our past
decisions and the efficacy of our digital-first customer-centric strategy gave us the resilience and flexibility
to navigate the economic shocks and market volatility that dominated the year.”
He further stated that; “Amidst the many challenges that persist, we remain ardent believers in Africa’s
growth potential. Our world is increasingly digital, and we see it opening new and exciting opportunities for
empowering people and uplifting our communities. With our commitment to deepening customer
relationships and intense focus on delivering innovative financial solutions, we enter 2021 well-positioned
to lead this new world.”
Guaranty Trust Bank plc continues to post the best metrics in the Nigerian Banking industry in terms of all
Financial Ratios i.e. Post-Tax Return on Equity (ROAE) of 26.8%, Post-Tax Return on Assets (ROAA) of
4.6%, Full Impact Capital Adequacy Ratio (CAR) of 21.9% and Cost to Income ratio of 38.2%.
Renowned for its forward-thinking approach to financial services and customer engagement, GTBank was
recently ranked Africa’s Most Admired Finance Brand in the 10th-anniversary rankings of Brand Africa
100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 admired brands in Africa.
The Bank was also awarded the Best Bank in Nigeria by Euromoney Magazine for a record-extending
tenth time and the Euromoney Excellence in Leadership Africa Award for its swift reaction in responding
to the Covid-19 crisis and for addressing the impact of the pandemic on its customers and communities.
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ZENITH BANK MARKS 35 YEARS ANNIVERSARY IN GRAND STYLE, RECOGNISES PIONEER CUSTOMERS AND LONG-SERVING STAFF

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L-R: Representative of the Nigerian First Lady and Secretary to the Lagos State Government, Barr. Bimbola Salu-Hundeyin; Chief of Staff to Ekiti State Governor, Mr. Adeniyi Adebayo; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Wife of the Founder & Chairman of Zenith Bank Plc, Mrs. Kay Ovia; Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR; Governor of Borno State, Prof. Babagana Zulum; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Deputy Governor of Osun State, Prince Kola Adewusi; Chairman of Access Holding Plc, Mr. Aigboje Aig-Imoukhuede, CFR; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; and the Publisher of Thisday Newspaper, Prince Nduka Obaigbena at the Zenith Bank 35th Anniversary and Chairman’s Dinner held at Eko Hotel & Suites, Victoria Island, Lagos, at the weekend.

Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary with a commemorative Chairman’s Dinner at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos on Friday, August 15, 2025. In recognition of their immense contributions to the success of the brand, the bank also presented commemorative awards and plaques to pioneer customers and long-serving staff, who have served meritoriously for 25 years and above. The ceremony brought together key stakeholders of the bank including customers, staff (past and present), regulators, partners, and friends, who all came together to celebrate 35 years of excellent and innovative banking services that has propelled the banking giant to the peak of Nigeria’s financial industry. Among the eminent personalities who graced the occasion were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Governor of Taraba State, Dr. Agbu Kefas; Governor of Borno State, Prof. Babagana Zulum; Governor of Delta, Rt. Hon. Sheriff Oborevwori, who was ably represented by the Deputy Governor, Sir. Monday Onyeme; Alhaji Aliko Dangote, GCON; and former governors Peter Obi and Udom Emmanuel (also an alumnus of Zenith Bank).In her welcome address, the Group Managing Director/ Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON applauded the Founder and Chairman, Jim Ovia, CFR for his foundational role in building the structures for what has today become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution. She described him as “the Godfather of modern banking and the Nostradamus of our time, who through sheer tenacity, foresight, and uncompromising integrity transformed a modest vision into the financial powerhouse we celebrate today”.In his goodwill message, the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, a proud alumnus of the bank, praised the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR for being at the heart of the very successful brand that today stands as Nigeria’s largest bank by Tier-One capital. According to him, “Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking industry. He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Jim Ovia, the people make an institution. His greatest investment has been in human capital – in transferring his experience and sense of adventure to generation after generation of bankers and investors forged at Zenith Bank”.

Also speaking at the event, the Founder and Chairman of Zenith Bank, Jim Ovia, CFR expressed its immense appreciation to all guests for joining the bank in celebrating this momentous occasion. He thanked the bank’s esteemed customers and shareholders for their trust, confidence and shared vision; the regulators, for their guidance over the years; his friends and partners, for being a constant source of strength; the Zenith Bank family led by the exceptional Group Managing Diector/CEO, Dame Dr. Adaora Umeoji, OON, for their loyalty and commitment; and his beloved wife and family for their love and support.Founded in May 1990, Zenith Bank has grown from humble beginnings into one of Africa’s leading financial institutions with branches across the 36 states of the federation and the FCT, Abuja as well as subsidiaries in the United Kingdom, Ghana, Sierra Leone, Gambia, France, UAE and a representative office in China.

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FirstBank Retains Top Spot as Nigeria’s Best Bank for ESG At 2025 Euromoney Awards

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 FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win in the ESG category, affirming its leadership in sustainable finance and responsible banking across Nigeria.

The Euromoney Awards for Excellence are regarded as one of the most coveted accolades in the global financial industry. The highly competitive selection process involves rigorous analysis and assessment, measuring performance against strategic and impact-oriented criteria.

The Bank earned the award through its deepened sustainability commitments embedded across its operations and community initiatives. In 2024, FirstBank screened 237 transactions worth over ₦3 trillion for sustainability risks, integrating ESG considerations into its credit framework.

Among its flagship sustainability initiatives, FirstBank commenced a tree planting campaign in partnership with Nigeria Conservation Foundation (NCF), planting over 30,000 trees in 16 locations across Nigeria. This was the first phase of its 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, contributing to climate resilience and supporting biodiversity preservation.

FirstBank has been proactive in gender inclusion through the Gender Market Strategy, disbursing over ₦43 billion FirstGem loans to women-led businesses in 2024. The Bank’s commitment to inclusive banking saw a significant increase in the worth of transactions facilitated by FirstMonie agents to over ₦9 trillion.

The Bank prioritises ESG/sustainability capacity building, evidenced by the training of over 9000 employees, and its webinars and workshops reaching over 2,000 SMEs and corporates. The bank’s investment in leadership for over 2,000 female employees through the FirstBank Women Network has demonstrated a dedicated structural commitment to cultivating a knowledgeable and diverse workforce catering to the dynamic ESG landscape.

Commenting on the award, the Chief Risk Officer of the Bank as well as the Chairman of the FirstBank Sustainability Committee, Patrick Akhidenor said, “We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders. Our approach to sustainability is hinged on three pillars: education, health and welfare; diversity and financial inclusion; responsible lending, procurement and climate initiatives”

He added: “We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond.”

The continued success in ESG and sustainability is driven by FirstBank’s vision to be Africa’s bank of first choice, leading with purpose, responsibility, and innovation.

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ZENITH BANK EMERGES NIGERIA’S BEST BANK AT EUROMONEY AWARDS FOR EXCELLENCE 2025

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  • Photo © 2025 – ASV Photography Ltd.
    www.ASVphotos.com

    ZenithBankPlchasbeennamed“Nigeria’sBestBank”attheEuromoneyAwardsfor
    Excellence2025,emergingasNigeria’sstandoutperformer,andclinchingthebiggestand
    most coveted country award. The award, which was presented to the bank on Thursday, July
    17,2025atThePeninsula,London,isatestament to its commitment to delivering exceptional
    banking services, innovative products and superior value to its customers and shareholders.
    Euromoney’s Awards for Excellence are one of the most highly coveted awards that matter to
    banksandbankerswhomatter.TheannualAwardsforExcellencecelebratesfinancial
    institutions that demonstrate leadership, innovation, and resilience in their markets, with this
    year’seditionseeingarecordnumberofover770entriesfromworldclassfinancial
    institutionsincludingHSBC,MorganStanley,CitiBank,Barclays,StandardBankand
    Development Bank of Singapore (DBS), amongst others.
    Commenting on the award, the Group Managing Director/Chief Executive of Zenith Bank Plc,
    Dame Dr. Adaora Umeoji, OON said, “We are absolutely thrilled to be recognized as Nigeria’s
    BestBankbyEuromoney.Thisawardisnotjustatestamenttoourrelentlesspursuitof
    excellence, but also a validation of the unwavering trust and confidence our customers have
    placed in us. We are once again reminded that our success is not just about us, but about the
    impact we continue to have on the financial ecosystem. We will continue to work tirelessly to
    supportthegrowthanddevelopmentofoureconomyandupholdthehigheststandardsof
    governance, integrity and transparency that has earned us this recognition”.
    She dedicated the award to Zenith Bank’s customers across the globe for their loyalty, and to
    the Founder and Chairman, Jim Ovia, CFR, for his visionary leadership and commitment to
    excellencewhichformedthefoundationforthebank’ssuccesses.Shealsothankedthe
    Boardfortheirguidance,aswellasthestafffortheirunwaveringdedicationtobuildinga
    formidable and best in class global financial institution that will outlive generations.
    ZenithBank’strackrecordofexcellentperformancehascontinuedtoearnthebrand
    numerous awards including being recognised as the Number One Bank in Nigeria by Tier-1
    Capitalforthesixteenthconsecutiveyearinthe2025Top1000WorldBanksRanking,
    publishedbyTheBanker.TheBankwasalsoawardedBankoftheYear(Nigeria)inThe
    Banker’s Bank of the Year Awards for 2020, 2022 and 2024; Best Bank in Nigeria from 2020
    to2022, 2024and 2025,inthe GlobalFinance World’sBestBanks Awards;Best Bankfor
    DigitalSolutionsinNigeriaintheEuromoneyAwards2023;andwaslistedintheWorld
    Finance Top 100 Global Companies in 2023.
    Further recognitions include Best Commercial Bank, Nigeria for five consecutive years from
    2021 to 2025 in the World Finance Banking Awards and Most Sustainable Bank, Nigeria in the
    InternationalBanker2023and2024BankingAwards.Additionally,ZenithBankhasbeen
  • acknowledgedastheBestCorporateGovernanceBank,Nigeria,intheWorldFinance
    CorporateGovernanceAwardsforfourconsecutiveyearsfrom2022to2025and‘Bestin
    CorporateGovernance’FinancialServices’Africaforfourconsecutiveyearsfrom2020to
    2023 by the Ethical Boardroom.
    The Bank’s commitment to excellence saw it being named the Most Valuable Banking Brand
    inNigeria inThe Banker’sTop 500Banking Brandsfor 2020 and 2021,Bank ofthe Year 2023
    and2024attheBusinessDayBanksandOtherFinancialInstitutions(BAFI)Awards,and
    Retail Bank of the Yearfor three consecutive years from2020 to 2022 and in2024 at the BAFI
    Awards. The Bank also received the accolades of Best Commercial Bank, Nigeria and Best
    Innovation in Retail Banking, Nigeria, in the International Banker 2022 Banking Awards.
    ZenithBankwasalsonamedMostResponsibleOrganisationinAfrica,BestCompanyin
    TransparencyandReportingandBestCompanyinGenderEqualityandWomen
    Empowerment atthe SERAS CSRAwards Africa 2024;Bank of theYear 2024by ThisDay
    Newspaper; Bank of the Year 2024 by New Telegraph Newspaper; and Best in MSME Trade
    Finance,2023byNairametrics.TheBank’sHybridOfferwasalsoadjudged‘RightsIssue/
    Public Offer of the Year’ at the Nairametrics Capital Market Choice Awards 2025
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