How GTBANK was formed
In Nigeria, there are banks and there are banks. To name but few of them, we have the likes of; Stanbic IBTC, Wema bank, Zenith bank, Uba, First bank among many others.
All these banks are doing well and fine and they probably have most of the banking customers in the country. But there is a bank not mentioned in the list above that is doing fantastically well too, if not better than the above mentioned. The bank is GTBANK!
What is GTBANK
Gtbank, often called GTB, means : Guaranteed Trust Bank. They happen to be one of the African foremost Bank to employ technological innovations in their banking process to ease the lives of their customers.
Gtbank, has the
of ₦ 3.16 Trillion (2016) and a
of ₦ 98.7 billion (2014). They have over 100,000 employees. The bank was founded in 17 January 1990.
They have branches in the following countries
So, who is the secret owner?
According to information gathered from
The bank was formed in 1988 by over 35 young Nigerians in their thirties, spearheaded mostly by Tayo Aderinokunand Fola Adeola, but also included Femi Pedro, Gbolade Osibodu, Femi Akingbe, Akin Opeoduand others.
According to an article claimed to have been written by one of the founders of the bankFemiPedroon www.jarushub.com, there he explained the way the 35 young men came together in the year 1988. See the excerpt below.
Excerpted from his 2015 article, The Curious Case of Young Generations.Written by Femi Pedro
He explains that :
“Sometime in 1988, I received a call from a good friend, Mr Akin Akintoye, about an interesting investment opportunity with a few colleagues.”
“After a series of meetings, it became very clear to me that we were about to embark on an audacious but incredibly special journey, and I was excited about the prospect of being a part of such a project.”
“For almost 2 years, I worked alongside the likes ofAkin Akintoye, Fola Adeola, Tayo Aderinokun(of blessed memory), Gbolly Osibodu, Bode Agustoand a few others on this investment project. As of 1988 when we began the journey, Fola was 34, Tayo was 33, Gbolly was 33, Bode was 33, Akin was 35 and I was 33. The objective: To own a BANK.”
He went further to add :
“It was a bold objective considering our respective ages at the time, but certainly not an impossible task in our eyes. So we began to hold countless meetings at Fola’s residence in 1988, until we eventually shifted base to Tayo’s First Marina Trust office in Victoria Island. By late 1989, we were ready to put in our bank application at CBN, along with the required minimum capital.”
Conclusively he added :
“This effort was spearheaded by Fola and Tayo (the two brains behind the entire operation), and supported by about 40 persons (including myself), most of whom were in their early 30s and working for different organizations at the time.”
“The end product? We formed arguably one of the finest financial institutions Nigeria has ever seen- Guaranty Trust Bank (known as GT Bank today). The bank was licensed on the 1st of August, 1990 and we commenced banking operations later that year. A group of young boys in their early/mid 30s OWNED a bank! We simply dreamt big, and turned this dream into reality.”
That was a wonderful feat by the then young men in their thirties. They did wonderfully well and they are now leaving a legacy behind.
It is clear that if you haven’t read this here today you probably wouldn’t know these secret founders.
Now you know. Will you like to say one or two things about these guys who took the pain and courage to create something that will probably outlast them?
Why not add your comments below.
Thanks for taking your time to read.
See you another time!