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Ijaiye, Isale Eko Schools win GTBank Super Cup

Ijaiye, Isale Eko Schools win GTBank Super Cup

Lagos, Nigeria - December 7, 2017   Ijaiye Housing Estate Grammar School, Ojokoro and Isale Eko Grammar School, Lagos Island yesterday emerged champion of champions for the season in the boys and girls’ categories respectively of this year’s Guaranty Trust Bank Plc (GTBank) Super Cup played at the Agege Stadium.   The matches, which pitched the Lagos State Principals Cup winners against their Ogun State counterparts in both categories, were to decide the overall champions for the GTBank Football Tournaments in 2017.   The stadium was filled by fans of the schools in the finals, Ijaiye Grammar School boys showed why they are worthy champion of the Lagos version when they defeated Ogun State’s champion, Pakoto High School, Ayede-Ifo, 2-1 in a keenly contested game.   Source: www.guardian.ng Read More

9th December, 2013

 

Fina Bank will change its identity to Guaranty Trust Bank Kenya after a Nigerian bank was given approval to buy a 70 per cent stake in the regional lender.

Central Bank of Kenya said it has offered a nod to the deal, setting the stage for a board shake-up at Fina Bank to reflect the new ownership structure.

“The approval for acquisition takes effect as from November 8, 2013. The resulting institution shall be called Guaranty Trust Bank Kenya Limited,” said Prof Njuguna Ndung’u, the Central Bank of Kenya (CBK) governor.

The Nigerian bank will acquire the majority stake in Fina Bank, set up in 1991, through a share purchase from current shareholders and direct investment in a deal valued at $100 million (Sh8.6 billion).

GTBank is eyeing expansion opportunities in East Africa after building out operations in West Africa to tap into the region’s fast growing economies and infrastructure deals, especially oil and gas financing.

Fina Bank’s assets stood at Sh19.3 billion in September and its profit grew 66.6 per cent to Sh255 million in the first nine months of the year. It has branches across Kenya, Uganda and Rwanda.

The bank has been looking for between Sh2.6 billion and Sh3.49 billion as additional capital to fund its growth plans.

Guaranty Trust Bank had $10.76 billion (Sh930 billion) in net assets last December or two-fifths of the Kenyan industry’s combined balance sheet of Sh2.33 trillion at the end of last year.

 

 

Source: www.businessdailyafrica.com

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