Gambia: Company Profile of Guaranty Trust Bank Gambia Ltd.
Guaranty Trust Bank Gambia Ltd.

Guaranty Trust Bank Gambia Ltd.

Sector: Banking

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Guaranty Trust Bank Gambia Ltd is a joint initiative and partnership between a Nigerian leading bank-Guaranty Trust Bank plc (GTBank plc) and a number of Gambian businessmen and institutions. The ownership structure of the bank is as follows:


  • GTBank plc  - 77.9%
  • Other Gambian and non Gambian Individuals / Institutions - 22.1%


In line with the internationally accepted practice, Guaranty Trust Bank Gambia Limited\'s financial performance is consolidated annually with the GTBank plc financial results.


Guaranty Trust Bank Gambia Ltd is a joint initiative and partnership between a Nigerian leading bank-Guaranty Trust Bank plc (GTBank plc) and a number of Gambian businessmen and institutions. GTBank Gambia began operations in The Gambia in March 2002.


In line with the internationally accepted practice, Guaranty Trust Bank Gambia Limited\'s financial performance is consolidated annually with the GTBank plc financial results.


Over the years, it has remained committed to providing professional banking services for various facets of The Gambian economy. Its Corporate Bank Group, Commercial Bank Group, Public Sector Group, Operations and IT Group, and Retail Group all offer personalized services to meet its customers\' every need.


  • Its Corporate Bank Group services multi-nationals and large corporate organizations in the Manufacturing, Energy, Aviation, Telecommunication, Financial Institutions, Import and Export sectors amongst others.
  • Its Commercial Bank Group is structured to suit the Banking needs of middle market players such as Government contractors, traders and medium scale corporate organizations.
  • Its Public Sector Group deals directly with Government Para-statals at the national and local Government levels providing financial advisory services and other tailor made products for them.
  • Its Retail Bank Group is structured to develop and serve individual and Owner Managed Enterprises / Small & Medium Scale Enterprises (OMEs / SME\'s) account holders, as well as respond to the personal needs of the Bank\'s High Net Worth customers.


With each of these Groups, it operates on a participatory and professional front. On one hand, it strives to actively acquire the knowledge needed to service the customers and on the other hand it imparts informed knowledge on how the customers can improve their businesses. This way, it provides total banking solutions that meet every customer\'s needs.


Though technology and service efficiency are largely responsible for the level of success the Bank has been able to achieve over the years, the people remain the Bank\'s most valuable assets.


Guaranty Trust Bank employs young and vibrant people from various backgrounds, who are selected through a vigorous interview process. All staff upon engagement must go through a three-month training program, where they are trained on various aspects of banking as well as self-development.


The Guaranty Trust Bank training school is about making an \"investment in the person and not the worker\". It is important that it grooms the individual and imbues the right morals, work ethics and social skills for the corporate environment from the onset. This creates a strong sense of team spirit amongst our staff, thereby promoting the \"we\" identity and downplaying the \"I\".


Every day, over 250 outstanding people driven by the zeal to excel, chart a course to ensure that Guaranty Trust Bank is by far greater than where it has been.


It maintains a culture of excellence, and go to great lengths to ensure that the customers are satisfied at all times. Its values are hinged upon professionalism, integrity and superior service delivery.


It maintains an informal but competitive environment where people call each other by their first names from entry level through to the Managing Director- no \"Sirs or Madams\". This informal culture is not common practice in The Gambia, but true to its convictions, the non-regimented and open environment brings out the best productive output in its people.


The Bank also maintains an open door policy. This reinforces the informal atmosphere and breeds a feeling of equality. Everyone is accessible and approachable, working in open offices alongside their colleagues.


The work environment is built saliently on Total Quality Management, and a thirst for excellence in everything we do. Quality is an integral part of the Bank and its improvement is not just in the hands of a few but in the hands of every member of staff. Delivering quality is the way we know how to sustain our competitive advantage.


Past Achievements:


2002: On the 5th March, Central Bank of The Gambia approved the issuance of a Banking license to the promoters.

On the 6th March, formal banking operations began at the Bank’s Head Office, 56 Kairaba Avenue, Fajara.

The bank became the first commercial bank to locate its Head Office outside the city of Banjul.

December 2002, the bank declared an operating loss for the nine-month operation. It was first of its kind a commercial bank publicly declared its loss position.


2003:The Bank opened its 2nd branch in Banjul, Ecowas Avenue.

The Bank declared a Profit of D3.1 million from a loss position in the previous year.


2004: The Bank opened its 3rd branch at Churchill’s Town, Serekunda.


2005: The first to introduce Internet banking in The Gambia.

The first bank to introduce statement by Email and GTBank Electronic Notification service (instant notification of any transaction via email)


2006:The first commercial bank to introduce a local money transfer service called GTB Joni-Joni.

The first commercial bank to introduce bill / fee payment collection scheme.

Introduce Bankers Acceptance in The Gambia Money Market - GTB BA, similar in character and terms to the government Treasury Bills.

The Bank opened its 4th and 5th branches in Brikama and Senegambia

The Bank became among one of the top three banks in The Gambia and continues to be in top three league.


2007: The Bank opened its 6th branch at Kanifing which ranked the bank as the second bank with the largest branch network.

The bank became the second bank in The Gambia to install Automated Teller Machines (ATM).

Three ATMs were installed at Kairaba, Senegambia and Serekunda branches.


2008: The first bank to win the maiden edition of the Gambia Chamber of Commerce and Industry (GCCI) Bank of the Year Award.

The Bank opened its 7th and 8th branches at Kanifing and Latrikunda Sabiji.

As a responsible corporate citizen, the bank adopted a Family House at SOS Children Village to provide feeding, clothing and paying of school fees for the children.


2009: The Bank opened its 9th, 10th, 11th, 12th and 13th branches at Jeshwang, Banjul on 3 Liberation Avenue, Farafenni, Bundung and Brusubi.

The bank obtained   license as the first and only Principal Member of Visa International in The Gambia and licensed to render full array of Visa Card service.

Became the first and only Gambian bank to obtained Visa Merchant Acquirer  and license to deploy Visa enabled Point Of Sale Terminals.

Became the second most profitable bank in The Gambia.


2010: The first bank to initiate and conclude the first ever loan syndication in The Gambia financial market.

The Bank opened its 14th and 15th branches at Basse and Bakau, thus becoming the bank with the widest branch network with nationwide coverage.


2011: In meeting its corporate social responsibility, the bank gave a sum of D4 million  to Gambia For Gold, an initiative of The Gambia Government through the Ministry of Youth and Sports task with the responsibility to mobilize funding for the country’s National football teams.


The bank became the first and only Bank in The Gambia tasked with responsibility to collect Taxes and duties for Gambia Revenue Authority (GRA, following the signing of a memorandum of understanding (MOU) in April 2011 between the two institutions. Tax payers would pay their taxes and duties payable to GRA at any of the GTBank Branches)


The bank for the second time won The Gambia Chamber of Commerce and Industry (GCCI) Bank of the Year Award.


2012: In its drive to complement government in national development and to set the pace in the Gambian Banking landscape, GTBank on Monday 4th June, 2012added to its list one more public private partnership deal. Now; the Bank collects Brikama Area council’s revenue.


In September 2012, GTBank increased its network of Branches to 16 by opening a 3rd Branch in Banjul.


It added to our myriad of money transfer services MoneyGram money transfer.


2013: The launching of the first-ever electronic branch in The Gambia by Guaranty Trust Bank Gambia Limited has placed customers of the Bank at the forefront of enjoying first-class banking services in the country. The electronic branch is located on Bertil Harding Highway at the Senegambia roundabout. It was launched in December 2013. The e-branch houses 4 ATMs and computers (for Access to Internet Banking)


The National Water and Electricity Company (NAWEC) in collaboration with GTBank Gambia in November, 2013 launched the NAWEC Cash Power Vending on GTBank ATMs.


In July of 2013 its Internet banking platform was upgraded with the introduction of the new Token device to ensure a faster, saver and a more convenient experience. The GTBank Token gives customers optimal protection against online thefts, hackers and fraudsters. GTBank portable Internet Banking Security device allows our customers to monitor, transfer funds between own accounts, confirm and stop cheques, conduct third party transactions and set-up standing instructions.


With the introduction of the GTBank Airtime vending, customers with the GTBank ATM Card can walk to any GTBank ATM and buy Airtime of any GSM network in the country. The service like all others is user friendly.


In August of 2013, GTBank introduced the GTCrea8 e-Savers Account. It is an interest bearing account designed for undergraduates and pays interest on balances of GMD2500 and above. The minimum opening balance is zero. The GTCrea8 e-Savers account is savings accounts that encourage tertiary students cultivate a savings habit while pursuing academic goals.


The GTClassic Current Account is an interest bearing account that allows salary earners and sole proprietors (HNI and Upper Market) conveniently carry out all banking transactions with ease. Interest is paid on a tiered system. As long as the minimum daily balance of D20000 is met and the maximum number of six withdrawals permitted each month is adhered to, no Commission on Turnover (COT) charges will apply on the account.


The GTBank won The Gambia Chamber of Commerce and Industry Service provider of the year. The award replaces the Bank of the Year award to now include all service providers in the country.


2014: In 2014, GTBank became the first Bank to launch MasterCard Services on all our ATMs and Point of Sale Terminals and plans are advanced to introduce mobile banking services.


The Bank’s current strategy runs from 2012-2016 where it aimed to be number 1 in profitability. By the end of 2013 the bank improved from 3rd most profitable to 2nd most profitable and with a quarter to go to the end of 2014.


The bank plans to consolidate gains made from its competitive advantage in being a pacesetter in the Gambia Banking industry in terms of innovation and new product development notably e-banking services coupled with efficient customer service.


Guaranty Trust Bank Gambia Ltd is a joint initiative and partnership between a Nigerian leading bank-Guaranty Trust Bank plc (GTBank plc) and a number of Gambian businessmen and institutions. Guaranty Trust Bank plc is a foremost Nigerian financial institution with vast business outlays spanning Anglophone/Francophone, West Africa, East Africa and the United Kingdom.


The Bank presently has an Asset Base of over 2 Trillion Naira, shareholders funds of over 200 Billion Naira and employs over 10,000 people in Nigeria, Cote d\'Ivoire, Gambia, Ghana, Kenya, Liberia, Rwanda, Sierra Leone, Uganda and the United Kingdom.


The Bank has a corporate banking bias and strong service culture that have enabled it record consistent year on year growth in clientele base and key financial indices since its inception in 1990.