Guaranty Trust Bank (Rwanda)

Guaranty Trust Bank (Rwanda) Ltd
Private
Industry Financial Services
Founded 2004
Headquarters Kigali, Rwanda
Key people
 Celestin Kayitare
chairman
Olabayo Veracruz
managing director[1]
Products Loans, Checking, Savings, Investments, Debit Cards
Revenue Increase Pretax: US$0.08 Billion (RWF:0.062 billion) (Q4:2015)
Total assets US$102.0 million (RWF:76.24 billion) (Q4:2015)
Website gtbank.co.rw

Guaranty Trust Bank (Rwanda) Ltd, commonly referred to as GTBank, is one of the licensed commercial banks in the Republic of Rwanda.

Overview

Guaranty Trust Bank (Rwanda) Ltd Headquarter, Kigali City
Guaranty Trust Bank (Rwanda) Ltd Headquarter, Kigali City

As of December 2015, Guaranty Trust Bank (Rwanda) had an estimated asset base of US$102.0 million (RWF:76.24 billion).[2]

Guaranty Trust Bank (Rwanda) Ltd is a subsidiary of Guaranty Trust Bank, a Nigerian financial services conglomerate, GTBank has subsidiaries in the following countries:

  1. GTBank Rwanda[3] - Kigali, Rwanda Rwanda
  2. GTBank Kenya - Nairobi, Kenya Kenya
  3. GTBank Uganda - Kampala, Uganda Uganda
  4. GTBank Côte d'Ivoire - Abidjan, Ivory Coast Ivory Coast
  5. GTBank Gambia - Banjul, Gambia The Gambia
  6. GTBank Ghana - Accra, Ghana Ghana
  7. GTBank Liberia - Monrovia, Liberia Liberia
  8. GTBank Sierra Leone - Freetown, Sierra Leone Sierra Leone
  9. GTBank UK - London, England, United Kingdom United Kingdom

History

The beginnings of the bank in Rwanda can be traced to 1983, when the BACAR bank was established. It became one of the first privately owned commercial banks in the country. Sometime before 2004, BACAR was taken over by the National Bank of Rwanda, the country's central bank, because of managerial issues. In 2004, Fina Bank, at that time, a Kenyan commercial bank, acquired BACAR. In 2008, Fina Bank opened banking operations in Uganda as well, forming the Fina Bank Group. In 2013, Guaranty Trust Bank acquired 70 percent shareholding in the Fina Bank Group for a cash payment of US$100 million.[4] In January 2014, the bank rebranded to reflect the new ownership structure.[5]

Ownership

As of January 2014, the shareholding in the stock of GTBank (Rwanda) was as follows:

GTBank (Rwanda) Stock Ownership
Rank Name of OwnerPercentage Ownership
1 Guaranty Trust Bank 95.73
2Government of Rwanda4.27
Total100.00

Branch network[6]

As of June 2016, GTBank maintained branches at the following locations:[7]

  1. Main Branch - 20 Boulevard de la Révolution, Kigali
  2. Gisozi Branch - Gasabo, Kigali
  3. Muhanga Branch - Muhanga, Southern Province
  4. Kayonza Branch - Kayonza, Eastern Province
  5. Ngoma Branch - Ngoma, Eastern Province
  6. Karongi Branch - Karongi, Western Province
  7. Kicukiro Branch - Kicukiro, Kigali
  8. Kigali City Market Branch - Nyarugenge, Kigali
  9. Kimironko Branch - Gasabo Kigali
  10. Nyabugogo Branch - Nyarugenge, Kigali
  11. Remera Branch - Gasabo, Kigali
  12. Rubavu Branch - , Rubavu, Northern Province
  13. Musanze Branch - Musanze, Northern Province
  14. Rusizi Branch - Rusizi, Western Province

Governance

The activities of Guaranty Trust Bank (Rwanda) are directed by a seven-person board of directors. The chairman of the board is Celestin Kayitare, one of the non-executive directors. The daily activities of the bank are supervised by a ten-person senior management team. The managing director is Olabayo Veracruz.[1]

See also

References

  1. 1 2 Gasore, Ben (20 May 2014). "Rwanda: GT Bank Completes Takeover of Finabank's 70 Percent Stake". New Times (Rwanda). Retrieved 7 June 2015.
  2. ↑ Gasore, Ben (29 May 2015). "Rwanda: GTBank Records RWF:260.4 Million Net Profit In Q1". The New Times (Rwanda). Retrieved 30 May 2015.
  3. ↑ "Guaranty Trust Bank - Rwanda Ltd". www.facebook.com. Retrieved 2016-06-29.
  4. ↑ Nation Correspondent, . (29 December 2013). "Regulator Approves Plan By Nigerian Bank To Buy 70 Percent Fina Stake". Daily Nation Mobile (Nairobi). Retrieved 7 June 2015.
  5. ↑ Kasambira, Timothy (29 January 2014). "FinaBank Rebrands To GT Bank". New Times (Rwanda). Retrieved 7 June 2015.
  6. ↑ "Branch Locator | GTBank Rwanda". gtbank.co.rw. Retrieved 2016-06-29.
  7. ↑ GTBR, . (2015). "The Branch Network of Guaranty Trust Bank (Rwanda)". Guaranty Trust Bank (Rwanda) - (GTBR). Retrieved 7 June 2015.

External links

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