Adeniji: GTBank Uganda’s Move to Credit Institution Capitalizes on Retail, SME Banking
In a recent statement to NewsNow, Mr. Jubril Adeniji, the Managing Director of Guaranty Trust Bank Kenya and Head of East Africa, emphasized the strategic transition of GTBank Uganda from a Tier 1 Commercial Bank to a Tier 2 Credit Institution as a reinforcement of its proficiency in Retail and Small and Medium Enterprises Banking.
The approval by the Bank of Uganda for GTBank Uganda to shift to a Tier 2 Credit Institution, alongside two other banks, marks a significant milestone.
Emphasizing the alignment with the bank's core strengths, Adeniji remarked, “Operating as a Tier 2 Credit Institution leverages our existing capital base and allows us to focus on Retail and SME Banking. Our adaptation will involve a strategic review to ensure our position in the Ugandan banking sector is opt...