GT Bank’s growing business

Within the past six years of GT Bank’s existence in the country, it has grown from a lesser-known financial institution to become a strong reference point in the industry, contributing enormously to the growth of the country’s economy, Ekow Essabra-Mensah writes.

Guaranty Trust Bank (Ghana) Limited (GT Bank) has warmed itself into the hearts of Ghanaians, and has now become a household name, creating value for its customers, shareholders and the economy at large.

It has become one of the most respected banks in the country, spearheading the use of technology in the delivery of services to the public and leading in product innovation.

The bank has also exhibited leadership and superiority in the provision of banking products towards the growth of business, trade and commerce -- all targeted at ensuring that the country positions itself in global business operations.

With an array of esteemed professionals, the bank has made huge contributions and chalked successes in the area of trade finance, human-capital development, energy financing and product innovation to promote business.

The bank, which now operates from 22 branches spread across the length and breadth of the country, employs over 525 Ghanaians. Out of this figure, 390 are permanent staff with only two Nigerians, confirming its belief in the principles of local content.

It prides itself as the only banking institution with its own modern training centre located in Accra, educating and training personnel. Small woner the bank was awarded the best bank in personnel training at last year’s Ghana Banking Awards.

Awards so far and counting

It was named Bank of the Year 2010 and emerged Best Bank in three key awards categories, namely IT/Electronic Banking, Corporate Banking and Product Innovation. The bank was also adjudged 1st runner-up in three major award categories -- Customer Care, Advisory Services and Competitive Pricing.

Prior to this achievement, GT Bank had also won Bank of the Year 2009, together with eight other major category awards -- namely Best Bank, IT/Electronic Banking; Best Bank, Retail Banking; Best Bank, Short-Term Loan Financing; Best Bank, Medium-Term Loan Financing; Best Bank, Product Innovation; Best Bank, Advisory Services; Best Growing Bank; and 1st Runner-up for the Best Bank in Customer Care Award.

The bank was also named by the International Finance Corporation (IFC) as the Most Market- Responsive Global Trade Finance Programme (GTFP) Issuing Bank in Africa for 2010.

Corporate social programmes

GT Bank has within the past six years of its operations helped in a number of good causes, such as in the care of orphans with HIV, the refurbishment of the Ridge Hospital Maternity Unit, treatment of children with heart diseases, and the education of underprivileged children among other endeavours.

In the area of educational support, the bank has contributed in many ways, the most notable being its contribution to the Otumfour Education Fund, aimed at assisting needy school-going children in the country.

The bank again has been supporting the development and growth of the Kwame Nkrumah University of Science and Technology.

Customer-focused products

The bank, having grown its visibility and presence through the combination of a strategic branch- expansion programme, delivery of superior customer service, and the practice of best corporate governance and good corporate social responsibility programmes, has ensured the utmost in customer satisfaction through the provision of convenient products and services.

GT Bank offers a wide range of electronic banking products/services differentiated for specific needs and developed with the goal to provide superior ease and convenience for customer transactions. This wide range of electronic products is proportionate to the bank’s branchless retail banking strategy, which does not limit banking services to normal banking hours or the branches only.

With its electronic banking offering, customers are equipped to carry out several transactions on their mobile phones, manage accounts on the internet, or use any of the Automated Teller Machines (ATM) on the bank’s branches or offsite networks across the country.

The Internet Banking service, an online and real-time banking service, offers individuals and businesses a range of banking services and account-management tools that are timely, accurate, reliable and flexible.

The facility has been developed with superior features such as Account Balance & Transaction Inquiry, Own and Third-Party Transfers, Cheque Confirmation, Cash-in-transit, Bank Drafts Request, Cheque Book Request, etc.

It enables clients access their accounts from anywhere in the world, view and verify transactions on accounts, check balances and account activity, and transfer funds between own and other GT Bank customer accounts. Clients can also print statements of accounts and confirm cheques or request cheque books, make standing orders, request for drafts etc.

To subscribe, clients only need an account with GT Bank, a reliable email address, internet access and telephone line. With these they can begin to gain operational and financial control over their personal or business accounts - either from the comfort of their offices, homes, or anywhere else in the world.

The Guaranty Trust Slip-Free process is a service that offers convenience. It is an innovative process that takes the burden of filling withdrawal or deposit slips away from the customer. It therefore reduces the time customers spend in the banking hall.


The bank’s SMS products enable customers monitor their accounts with a GSM phone anytime, anywhere.

With the SMS products, clients are able to view account balances, track transactions on account(s), transfer funds between accounts and transfer funds to other accounts.

It comes with enormous banking benefits including safe and convenient transaction, is saves customers’ time and effort of going to branches, and is cost-effective as well.This service is available 24 hours a day.


GT Bank Automated Payment System

GT Bank’s Automated Payment System (GAPS) is a web-based solution that facilitates the processing of payments in batches, using a secure connection over the internet.
GAPS provides an efficient means of effecting payments to contractors, vendors, suppliers, employees of companies, etc.

It’s an excellent information resource that provides real-time online account-monitoring and instant value to GT Bank’s beneficiary account-holders. This comes with an improved transaction-processing time.

MasterCard

The GT Bank Debit MasterCard is an international payments card, issued in partnership with MasterCard Worldwide to enable the bank’s customers withdraw cash from over 1.5 million Automated Teller Machines (ATMs), pay for goods and services at MasterCard-labelled Point of Sale (POS) Terminals worldwide as well as make payments directly linked to a customer’s current or savings account on the internet.

Thus all transactions done using this card are reflected on the account instantly in real time.

Guaranty Trust Bank, with its strategic alliance with the world’s leader in payment brands, is able to also accept other MasterCard brands including Maestro and Cirrus Cards on all its ATMs and POS terminals across the country.

Online Cheque Confirmation

The GT Bank Online Cheque Confirmation service allows customers to confirm all cheques above GHS3,000 issued from the comfort of their offices and homes.

The service is accessible via the bank’s robust Internet Banking platform. It only requires customers to log on to its secure Internet Banking site and provide the details of the cheque and then submit it. This is then transmitted immediately to the bank, alerting the officials of the confirmation, thus allowing the cheque to be paid immediately upon presentation.

This innovative solution protects the customer against cheque fraud while ensuring faster customer service delivery throughout its banking halls.


International products

Guaranty Trust Money Transfer (GTMT)

As part of GT Bank’s “Orange Convenience, Anywhere, Anytime, Banking Services”, the bank has introduced the Guaranty Trust Bank Money Transfer (GTMT).

This a web-based platform on which customers and non-customers can receive or send money from GT Bank subsidiaries in Ghana, Nigeria, Sierra Leone and The Gambia. Plans are underway to bring GT Bank subsidiaries in the United Kingdom and Liberia onto the platform.

With this product, the public can now transfer money conveniently at trusted locations with superior service levels to all GT Bank locations in the West African sub-region. This would increase mobility for trade, leisure, education and personal purposes within the various countries in West Africa.

Clients and the general public can now conveniently transfer money from about 144 locations with ease and speed.

China Union Pay Cards

Guaranty Trust Bank can presently boast of smooth business transactions with its Chinese customers and the general public, with its ATMs now accepting China Union Pay Cards.

Chinese residents in Ghana, travellers, students and businessmen and women with China Union Pay cards can now use them on any GT Bank ATM at all times to withdraw cash and check their account balances.

GT Bank Visa Cards

Guaranty Trust Bank Visa Card is a range of Visa Classic and Visa Electron Chip Debit Cards tailored to suit every lifestyle. Visa Gold Card, Visa Electron International, Visa Electron Domestic and Students Discount Visa Cards are the four main types of cards.

GT Bank Visa Cards are widely accepted in over 11,000 Visa ATMs and 22 million Visa Point of Sale Terminals worldwide for payment of goods and services (excludes Visa Domestic Cards).

Cash withdrawal and other ATM transactions can be made at any time of the day offering 24-hour access to cash. It is simpler than writing a cheque or making payment with cash.

Transfer of money can be made from one GTBank Visa card to another or in between accounts if the card is linked to two or more accounts.

Each purchase or withdrawal is recorded automatically on the client’s monthly bank statement, helping cardholders track and manage their expenses.

Guaranty Trust Bank (Ghana) Limited was registered in 2004 as a limited liability company in the country, and licensed by the Bank of Ghana in February, 2006 to provide universal banking services to the general public.

It is one of the five international subsidiaries of Guaranty Trust Bank Plc, a foremost bank in Nigeria with a Triple A rating and the first indigenously-owned sub-Saharan bank to be listed on the London Stock Exchange. GT Bank is also the first new-generation indigenous African bank to obtain a banking licence in 2008 to carry out fully-fledged commercial banking activities in the United Kingdom.