GT Bank to open 30 new branches in the next 2 years

GT Bank is looking to open 30 new branches in the next two years across various locations, in a bold push to consolidate its market position.

According to its LSE equity offering prospectus, the bank also plans to upgrade the infrastructure of its existing branches to support an increase in in-branch customer engagement.

The Group is also doubling down on its corporate banking, with a targeted approach to select high-growth sectors. According to the prospectus, these include retail, oil and gas, and SMEs, particularly those involved in supply chains and manufacturing. The food and beverage industries, especially feed producers and processors, are also being positioned as strategic gateways for expansion.

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It maintained that it would maintain a direct focus on agriculture, a strategy it believes will facilitate its expansion into the food and beverages sector. The Group has identified these sectors as key drivers of future growth, citing their near-to-medium-term potential for economic resilience and expansion. It also notes that these industries possess the necessary infrastructure to support sustained development.

Opportunities for expansion outside Nigeria

The bank has also identified long-term growth opportunities in select markets outside Nigeria. According to the prospectus, they identified West and East African countries, where strong population and GDP growth, combined with relatively low levels of banking penetration, create favourable conditions for expansion.

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The document highlighted some target countries, including Senegal, Ghana, Côte d’Ivoire, Kenya, Tanzania, and Rwanda.