Industry Financial Services Headquarters Kigali Type of business Private | Website gtbank.co.rw Founded 2004 | |
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Key people Celestin Kayitare
chairman
Olabayo Veracruz
managing director Products Loans, Checking, Savings, Investments, Debit Cards Total assets US$102.0 million (RWF:76.24 billion) (Q4:2015) Revenue 80 million USD (Pretax, RWF:0.062 billion, ...) | ||
Guaranty Trust Bank (Rwanda) Ltd, commonly referred to as GTBank, is one of the licensed commercial banks in the Republic of Rwanda.
Contents
Overview
As of December 2015, Guaranty Trust Bank (Rwanda) had an estimated asset base of US$102.0 million (RWF:76.24 billion).
Guaranty Trust Bank (Rwanda) Ltd is a subsidiary of Guaranty Trust Bank, a Nigerian financial services conglomerate, GTBank has subsidiaries in the following countries:
- GTBank Rwanda - Kigali, Rwanda
- GTBank Kenya - Nairobi, Kenya
- GTBank Uganda - Kampala, Uganda
- GTBank Côte d'Ivoire - Abidjan, Ivory Coast
- GTBank Gambia - Banjul, Gambia
- GTBank Ghana - Accra, Ghana
- GTBank Liberia - Monrovia, Liberia
- GTBank Sierra Leone - Freetown, Sierra Leone
- GTBank UK - London, England, United Kingdom
History
The beginnings of the bank in Rwanda can be traced to 1983, when the BACAR bank was established. It became one of the first privately owned commercial banks in the country. Sometime before 2004, BACAR was taken over by the National Bank of Rwanda, the country's central bank, because of managerial issues. In 2004, Fina Bank, at that time, a Kenyan commercial bank, acquired BACAR. In 2008, Fina Bank opened banking operations in Uganda as well, forming the Fina Bank Group. In 2013, Guaranty Trust Bank acquired 70 percent shareholding in the Fina Bank Group for a cash payment of US$100 million. In January 2014, the bank rebranded to reflect the new ownership structure.
Ownership
As of January 2014, the shareholding in the stock of GTBank (Rwanda) was as follows:
Branch network
As of June 2016, GTBank maintained branches at the following locations:
- Main Branch - 20 Boulevard de la Révolution, Kigali
- Gisozi Branch - Gasabo, Kigali
- Muhanga Branch - Muhanga, Southern Province
- Kayonza Branch - Kayonza, Eastern Province
- Ngoma Branch - Ngoma, Eastern Province
- Karongi Branch - Karongi, Western Province
- Kicukiro Branch - Kicukiro, Kigali
- Kigali City Market Branch - Nyarugenge, Kigali
- Kimironko Branch - Gasabo Kigali
- Nyabugogo Branch - Nyarugenge, Kigali
- Remera Branch - Gasabo, Kigali
- Rubavu Branch - , Rubavu, Northern Province
- Musanze Branch - Musanze, Northern Province
- Rusizi Branch - Rusizi, Western Province
Governance
The activities of Guaranty Trust Bank (Rwanda) are directed by a seven-person board of directors. The chairman of the board is Celestin Kayitare, one of the non-executive directors. The daily activities of the bank are supervised by a ten-person senior management team. The managing director is Olabayo Veracruz.