Guaranty Trust Bank (East Africa)
| Private | |
| Industry | Financial services |
| Founded | 1986 |
| Headquarters | Kimathi Street, Nairobi, Kenya |
Key people |
Dhanu Hansraj Chandaria Group Chairman Tim Marshall Chief Group Operating Officer Rajesh Kapoor Group Managing Director |
| Products | Banking, Mortgages Investments |
| Revenue |
 Aftertax: US$1.43 million |
| Total assets | US$338 million (July 2013) |
| Website | Homepage |
Guaranty Trust Bank (East Africa), also known as GT Bank (East Africa), formerly known as Fina Bank Group, is a financial services organization in East Africa. The Group's headquarters are located in Nairobi, Kenya, with subsidiaries in Kenya, Rwanda and Uganda.
History
The institution began operations as a non-banking financial company, in 1986. In 1991 it was acquired by private investors, who converted it into a commercial bank, in 1995, following the acquisition of a banking license from the Central Bank of Kenya, the country's banking regulator. The bank opened its doors as a fully fledged commercial bank in 1996.
In 2004, Fina Bank acquired BACAR, a privately owned bank, that had been seized due to managerial reasons, by the National Bank of Rwanda, Rwanda's banking regulator. In 2005, the bank changed its business strategy and re-launched Fina Bank as a banking institution that focuses on serving small and medium-sized enterprises (SMEs). Between 2005 and 2008, the bank re-organized its operations in Rwanda and continued branch expansion in Kenya.
In 2008, Fina Bank re-organized its operations in Rwanda and opened up business in Uganda with two brand new branches.[1]
In July 2013, the Nigerian lender Guaranty Trust Bank, acquired 70% shareholding in Fina Bank Group for a cash infusion of US$100 million.[2] In January 2014, the member companies of Fina Bank Group rebranded as subsidiaries of Guaranty Trust Bank.[3] In February 2014, Fina Bank Group rebranded to Guaranty Trust Bank (East Africa).[4]
Overview
GT Bank (East Africa) is a medium-sized financial services provider in East Africa, focusing on meeting the banking needs of SME businesses. In July 2013, the Group's total assets were valued at US$338, with shareholders' equity in excess of US$140 million. At that time, the Group operated 38 bank branches across East Africa; 17 in Rwanda, 14 in Kenya and 7 in Uganda.[5]
Member companies
The companies that comprise GT Bank (East Africa), include the following as at January 2014. The Government of Rwanda owns the 7.96% in Guaranty Trust Bank (Rwanda) that the Group does not own. [6]
| Company | Shareholding |
|---|---|
| Guaranty Trust Bank (Kenya) | 100% |
| Guaranty Trust Bank (Uganda) | 100% |
| Guaranty Trust Bank (Rwanda) | 92.04% |
See also
- Guaranty Trust Bank (Kenya)
- Guaranty Trust Bank (Rwanda)
- Guaranty Trust Bank (Uganda)
- Economy of Kenya
References
- ↑ The History of Fina Bank Group
- ↑ Guaranty Trust Bank of Nigeria Acquires 70% Stake In Kenya's Fina Bank Group
- ↑ GT Bank Concludes Acquisition of Fina Bank Group
- ↑ Fina Bank Rebrands Following Buyout By GT Bank
- ↑ Estimated Group Financials As of July 2013
- ↑ Fina Bank Group Increases Shareholding In Subsidiaries
