GTB remains on top
September 14th, 2006 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
Ogbuotobo Chuks
For the fourth year in a row, Guaranty Trust Bank (GTB) has retained it’s triple ‘A’ (Aaa) rating.
According to Augusto & Co’s 2006 bank rating report, the rating of the bank is supported by the institutions consistently robust financial performance which is underpinned by the strong capital base, strong asset quality good liquidity profile and an experienced management team with a prudent approach to business.
Analysts at Augusto & Co believe that the quality of the bank’s management is good, and that this is reflected in the consistent growth in market share and outstanding performance over the years.
The rating agency’s report highlighted the major strengths of the bank which include
–BRAND
–CAPITAL BASE
–ASSET QUALITY
–GOOD PROFITABILITY
–GOOD LIQUIDITY PROFILE
– EXPERIENCED MANAGEMENT TEAM.
By the middle of 2006, the bank entered into a partnership deal with Morgan Stanley Management Limited with respect to managing Nigeria’s foreign reserve. The institution also has subsidiaries in Ghana, Sierra Leone and the Gambia.
Guaranty Trust Bank is currently the only financial institution in Nigeria rated AA by Fitch, a leading international rating agency. This rating is the highest rating assigned any bank in Nigeria by Fitch.
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