Guaranty Trust Bank PLC (GTBank) has ascended to the number one position as the Most Admired Financial Services Brand in Africa.
Brand Africa which released the top 100 brands in Africa recently also listed Dangote conglomerate, MTN Group, DSTv and Anbessa shoe of Ethiopia as highly admired brands in different categories.
Brand Africa announced the 10th-anniversary rankings of Brand Africa 100: Africa’s Best Brands, the pre-eminent survey and ranking of the Top 100 most admired brands in Africa. The rankings were announced in a novel global virtual event that incorporated the market openings of Kenya, South Africa and Nigeria.
In the Most Admired Financial Services Brands category, GTBank claimed back the #1 spot this year, in a specific question and ranking of brands in financial services, after falling out of the top five in 2019.
GTBank’s clever marketing, global presence and some of its flagship food and fashion events have undoubtedly helped make it a fixture of daily life in some of its key markets, especially its home base Nigeria.
The bank has taken banking and finance to the people and associating this with something fun and useful.
Interestingly, every brand in last year’s top five (FNB, Bank of Africa and Standard Bank) has lost ground in the rankings, with only Ecobank and Absa managing to stay within the top five. The industry is dominated by African giants. International brands do feature in some cases but these are payment companies as opposed to traditional banks – Paypal, Western brand, the split is pretty even between South, East and West Africa.
Compared to last year, East Africa increased its contribution by 4% to 36%. West Africa came in with 28% of those brands represented and Southern Africa with 36%.
GTBank has been a recipient of numerous awards over the years in recognition of the Bank’s bias for world-class corporate governance standards, excellent service delivery, and innovation,
Some of the awards include Best Bank in Africa and Best Bank in Nigeria, by the Euromoney Magazine (2019), Best Banking Group and Best Retail Bank Nigeria from World Finance Magazine (2019), Bank of the Year – Nigeria from the Banker Magazine (2018), Most Innovative Bank from the African Investor (2018), and Best Digital Banking Brand in Nigeria from the Global Brands Magazine (2018).