Tayo Aderinokun, MD, GTB

Guaranty Trust Bank (UK) Limited (GTBank UK ) has started operating a full banking operation in the United Kingdom . The Bank, a fully owned subsidiary of Guaranty Trust Bank plc, was authorised by the United Kingdom Financial Services Authority March 10, 2008 to offer retail and wholesale banking products and services to private, corporate and institutional clients doing business and/or resident in the UK.

According to the bank, GTBank UK was established to enable it provide financial services to its customers who have business and/or personal interests in the United Kingdom and/or Europe.

"We hereby invite you to be part of and to leverage on this new addition to the Guaranty Trust Bank group," he said.

To open an account, please download the account opening forms from our website at www.gtbankuk.com and post it along with the required documents to our office at 62, Margaret Street , London W1W 8TF ," the bank said.

The bank added that, alternatively, one can submit his documents at any of the branches of the bank’s subsidiaries in his locality where the bank’s friendly staff will assist him with any further enquiries.

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The bank advised that should anybody require any further information or clarification, the person should not hesitate to contact any of the undersigned on 020 7947 9700 or send an email to info@gtbankuk.com," it said.

"If you look at the balance sheet of most Nigerian banks today, a large portion of it is in form of cash in short term funds, which means we are just putting our funds in treasury bills. Nigerian banks today do not need Naira. If I act today and raise Naira capital, the most I would do is to put it in cash or short term funds," it said.

"The bank observed that what Nigerian banks need is dollar so they can lend to sectors like oil & gas, telecoms, and also compete with the foreign banks. So the GDR fund is equity that would come in foreign currency, and which in our opinion is more important than having Naira as equity, so that is why we got the root of the GDR. And we must commend the Central Bank of Nigeria (CBN) for allowing us to convert Naira to dollars on the transaction," the bank noted.

 

 

 

 

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