Guaranty Trust Bank (GTB) has given an update on the corporate re-organisation that has been going on for some time.
The bank in a statement released to our source revealed that the succession process commenced in 2020, and it was announced at the Guaranty Trust Bank Plc Half Year 2020 Investors/Analysts Call held on September 7, 2020.
It was also noted that the regulatory approvals for members of board of directors is yet to be obtained and once it is gotten, the announcement will be made.
Read full statement below
‘’Update on Ongoing Guaranty Trust Bank Plc Corporate Reorganisation
Recall that during the Guaranty Trust Bank Plc Half Year 2020 Investors/Analysts Call held on September 7, 2020, Mr Segun Agbaje, the Managing Director and Chief Executive Officer of Guaranty Trust Bank plc, confirmed the commencement of the succession process for Guaranty Trust Bank Nigeria and noted that all Executive Directors of the Bank are participating in this process.
At the Full Year 2020 Investors/Analysts Call held on March 22, 2021, Mr Agbaje provided an update on the succession process for Guaranty Trust Bank Nigeria, confirming that it has been completed. He also confirmed the ongoing Corporate Reorganisation has been ratified by shareholders at the Court-Ordered Meeting of the holders of the fully paid ordinary shares, held on December 4, 2020.
He noted that in order to maintain optimum operational efficiency, there will be a Holding Company Board of Directors made up of seven (7) members and a Bank Board of Directors with eight (8) members.
Please be informed that the members of Boards of Directors will be announced, and all other details of the ongoing Corporate Reorganisation provided, once all regulatory approvals have been obtained. We remain committed to providing best-in-class customer experience to all our valued customers and consistent high-quality returns to all our esteemed shareholders.