Guaranty Trust Bank has been named the “2016 Most Innovative Bank in Africa” by African Banker Magazine at the prestigious African Banker Awards which took place on the sidelines of the AfDB annual meeting on May 25, 2016 in Lusaka, Zambia.
Now in its 10th year, The African Banker Awards is internationally recognized as the landmark finance event to reward achievements, commend best practices and celebrate excellence in African banking.
The award provides a platform to bring together industry leaders from across Africa, celebrate the achievements of those driving economic growth and shaping the future of Africa.
Commenting on the awards ceremony, Publisher of African Banker Magazine, Mr Omar Ben Yedder said technology is constantly shaping the banking landscape and the bank of tomorrow will be those who continually leverage advancements in technology to pioneer innovative products and services to create sustainable value for their stakeholders and improve the overall customer experience.
According to him, the bank, through the introduction of its Bank 737, a products that allows customers perform basic banking functions from the comfort of their mobile phone without the need for data – has redefined the traditional bricks and mortar experience to a swift, convenient and mobile user-friendly experience.
He stressed that in today’s banking, there is no room for complacency as there is so much expectation for growth and development to ensure we achieve the transformation we all desire and work towards.
He added that seeing a local African bank take the initiative in leveraging technological advancements to drive inclusive banking across Africa is highly commendable.
Receiving the award on behalf of the bank, the Managing Director, Mr. Segun Agbaje, said: “We are delighted and honoured to be recognized as the Most Innovative Bank in Africa. For us, winning this award is an attestation of our commitment to continually pioneering new innovative products and services that enable us push the frontiers of service delivery.
“Our vision has always been to create an oasis of excellence in Africa, and buoyed by this accolade, we are determined to achieve more and consolidate our leading position in the banking industry by radically adopting innovative solutions, pursuing collaborations, and maintaining a high standard in creating sustainable value for stakeholders.”
He said that the bank has consistently played a leading role in Africa’s banking industry and reported the best financial ratios for a financial institution in the industry with a return on equity of 25.5 per cent and a cost to income ratio of 44.4 per cent, evidencing the efficient management of the banks’ assets.