June 25, 2018
By Hassan Gbassay Koroma
The new Managing Director and Chief Executive Officer of Guaranty Trust Bank in Sierra Leone, Ade Adebiyi, last Friday (June 22) interacted with customers of the bank during a dinner organised at Radisson Blu Mammy Yoko Hotel in Freetown.
The interactive session accord the new MD to listen to customers views as to the successes and challenges of the bank.
Guaranty Trust Bank (Sierra Leone) Limited is a subsidiary of Guaranty Trust Bank PLC Nigeria, which is a wholly owned and managed Nigerian banking institution with a branch network that covers over 200 locations in Nigeria.
Guaranty Trust Bank’s growing reputation as an international brand was re-affirmed years ago by a successful US$750 million Global Depository Receipt (GDR) Offering.
The bank currently has banking subsidiaries in Ghana, Sierra Leone, Gambia, Liberia, Ivory Coast, Kenya, Rwanda and the United Kingdom.
Introducing the new Managing Director at the well-attended interactive diner, Board Chairman of the bank, George Taylor-Lewis, said the MD has been in the country for a while now and that many customers might crossed path with him along the corridors or the banking hall due to his customer and banking skills.
He said the new MD was one of the elite excellent bankers of Guaranty Trust Bank and that he has won lot of awards while working with, and even prior to joining the bank.
Mr. Taylor-Lewis noted that the new MD has worked for several banks in his over twenty-five years banking experience.
He said the new MD was the MD at the Guaranty Trust Bank London Branch, but was swapped with the outgone MD of Sierra Leone, adding that the former has lot of experience in banking, especially in maritime banking and that the country would benefit from his experience.
Addressing customers, Mr. Adebiyi said the bank periodically organises the event as an opportunity to interact with their valuable customers and get a feedbacks of their successes and challenges.
“The customers are the pillar bedrock of the bank and we will use this forum to continue to express our gratitude to them and thank them specially for choosing to bank with us amidst increasing competition in the banking sector in Sierra Leone,” he said.
He said the security of customers’ money and the financial strength of the bank were very important, and that he was happy to inform them that recently the bank published its account, which positioned them in a good stead.
The new MD revealed that in terms of profit before tax (PBT), they have a total figure of Le67 billion and that in terms of adequacy – that is how robust their balance-sheet in the capital point of view as of December 2017 – they are at 35%.
He further intimated that in terms of liquidity, they have a huge margin of safety as they are at 85% as against 60% that the law requires.
He continued that in terms of non-performing loans – where many banking institutions are behind – GTBank has less than 2% at 1.9% – which puts them, in comparison, the best run bank in the country.
Mr Adebiyi said that one of their medium terms objectives was the urge that in the next few years they want to deepen the payment system within Sierra Leone with their banking products, including the GT-simpay system and master card.
The new MD continued that they were not oblivious of the fact that the payment mood in the country was cash, but they’re confident their banking products would help change that system.
He revealed that the bank has in the few months identified the financial inclusion objective of the Bank of Sierra Leone, and that such would help them increase their retail footprint in the next five years and help maximise their profitability.