Guaranty Trust Bank Plc (GTBank) said it plans to grow its loan book between 15 and 20 per cent this year.
In order to achieve the, the bank listed its target sectors to include telecoms, oil and gas, manufacturing and maritime.
The Managing Director/Chief Executive Officer, GTBank, Mr. Segun Agbaje, who said this during the presentation of its 2013 full year results to journalists in Lagos, also assured stakeholders that profitability would be driven by loan growth.
The GTBank boss also said the bank would maintain low cost and ensure the growth of its subsidiaries this year.
According to Agbaje, the bank would remain on the forefront of industry’s best practices, strong risk management and corporate governance
With cost-to-income ratio below 45 per cent, the GTBank boss argued that the financial institution remains the industry leader.
“We shall continue to drive retail deposits, technology, innovation to keep cost low,” he added.
Furthermore, Agbaje said the bank is targeting a 20 per cent growth in retail deposits to maintain low cost of funding, adding that it would invest in technology and electronic banking to drive its retail base.
“Our business strategy and objective is to be one of the top three banks in Africa by 2016. Our market leadership scale up our franchise in Africa.
“We shall also aggressively grow our market share in our chosen/priority sectors, with knowledgeable and highly driven staff with deep industry skills,” the GTBank boss said.
Source: Thisday
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