Guaranty Trust Bank (GTbank) in Kenya has announced that Jubril Adeniji, its managing director has been recalled to its parent company, in Nigeria, where he will take up a new role within the parent institution- GTCO Group at the end of his tenure.
According to a statement issued by the bank’s board of directors, this will form part of the latest executive reshuffle in Kenya’s banking industry as lenders reposition their leadership teams amid growing competition.
To ensure a smooth transition, Adeniji will remain in office for the next 90 days while the bank completes the handover process and obtains regulatory approval for the appointment of a new managing director.
In a statement, the bank said Adeniji had overseen significant improvements during his tenure, including strengthening its governance and shareholding structure, improving the quality of its loan portfolio, enhancing internal controls and implementing a strategic growth plan to expand the bank’s market share.
The lender also credited him with strengthening the bank’s leadership team and workforce to support its long-term growth strategy.
According to a statement by the bank, “The Board extends its sincere appreciation to Adeniji for his contribution, leadership and dedicated service to GTBank Kenya during his tenure”.
The bank added that operations would continue without disruption during the transition, assuring customers, employees, regulators and shareholders that it remains financially sound and committed to delivering quality banking services.
The leadership change comes as Kenya’s banking sector experiences increased executive movement, with several lenders reshuffling senior management as they prepare for the next phase of growth, regional expansion and heightened competition.
Brief profile
Jubril Adeniji is a banking executive with more than 25 years of experience across banking operations, corporate banking and business development. Throughout his career, he has worked across key sectors including multilateral institutions, construction, oil and gas, manufacturing and services, serving clients in international, public sector, corporate, commercial, small and medium-sized enterprise (SME) and retail banking segments.
He joined Guaranty Trust Bank (GTBank) in February 2006 as a team lead in the bank’s Abuja and North Central Commercial Banking Division. He rose through the ranks to become divisional head in April 2011, a position he held for more than four years.
In December 2015, Adeniji moved to the bank’s International Banking Division, where he played a key role in supporting GTBank’s application for a banking licence in Tanzania.
He was appointed the pioneer managing director of GTbank Tanzania in July 2016. During his first 18 months in office, he led the establishment of the bank’s greenfield operation, culminating in the issuance of an operating licence by the Bank of Tanzania in December 2017.
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Under his leadership, GTbank Tanzania recorded consistent year-on-year improvements in key financial and operational indicators. He also built and led a predominantly young Tanzanian workforce until September 2022, when he was appointed managing director of Guaranty Trust Bank Kenya.
Having successfully established GTbank’s presence in Tanzania, Adeniji developed extensive knowledge of the Tanzanian and wider East African banking markets. In July 2022, he was entrusted with driving the strategic growth and expansion of the bank’s operations across the region through his appointment to lead the Kenyan subsidiary.
Before joining GTbank, Adeniji worked at MBC International Bank Limited, now part of First Bank of Nigeria Limited, between November 1997 and January 2006.
He holds a Bachelor of Science degree in Mathematics from the University of Ibadan and a Master of Business Administration (Finance and Accounting) from the University of Liverpool. He has also completed executive leadership programmes at globally recognised institutions, including IMD, Cranfield School of Management and the University of Michigan Ross School of Business, alongside several specialised banking and leadership courses.
Adeniji is an Honorary Senior Member of the Chartered Institute of Bankers of Nigeria, a recognition conferred in 2012.
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