The group chief executive officer, Guaranty Trust Bank Holding Company (GTCO) Plc, Segun Agbaje, has said that the transition of the bank to a holding company and its listing on the Nigerian Exchange (NGX) Limited is to enhance growth share, value addition and achieve its long term goal of becoming one of the top five financial institutions in Africa.
Agbaje stated this at the listing of Guaranty Trust Holding Company Plc’s shares on the main floor of the Exchange, yesterday in Lagos.
This followed the completion of all regulatory requirements for the corporate reorganisation of the financial institution into a holding company structure and the listing of GTCO Plc, on the NGX and the London Stock Exchange, replacing Guaranty Trust Bank Plc.
Agbaje said: “These are very exciting times for us. Following our transition, we can now compete more effectively with non-banks in this new and evolving competitive landscape, whilst creating more value for customers and shareholders than we ever could as a bank.”
He stated further that, “although, we are delighted to have completed this rigorous transition process, we know that the hard work has just begun. We are in the final phase of building a new payments business that will deepen and extend digital financial services across Africa.
“We also believe that we are in a better position to drive an Asset Management business and a Pension Fund business, given our strong retail base and digital-first approach to financial services, which we have honed over the past decade.”
Also, the CEO, NGX, Temi Popoola, commended the board and management of GTCO for its successful restructuring. He added that the NGX will continue to partner GTCO and other listed companies and issuers even as it continues to build a platform that allows listed companies, investors and other stakeholders to maximise value in the market.