Nigerian banks: GTB – profits before size

It is little wonder that GT Bank comes top in Euromoney’s survey of Africa’s best-managed banks. It was one of the first in Nigeria to implement international standards of accounting and issue international bonds and shares. CEO Segun Agbaje says there are only two of the original shareholders on the board. Agbaje, a long-standing employee, became the bank’s third CEO in 2011 after the second of the two founders to have been CEO, Tayo Aderinokun, died. Agbaje has already enjoyed the highest profit in Nigeria banking and the largest market capitalization – despite having the lowest total assets of the big five.