The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.

Africa's best bank for SMEs 2017: Guaranty Trust Bank

Awards for Excellence 2017

Lending to small and medium-sized enterprises is an important part of banking in Africa, and an area of business that requires ever more support from the continent’s banks. Guaranty Trust Bank (GTBank) dominated the sector over the last year and so wins the title of best bank for SMEs. 


Segun Agbaje,

GTBank defines SMEs as firms with an annual turnover of up to N500 million ($1.6 million). Revenue derived from such firms still makes up a small proportion of GTBank’s overall income, but it grew substantially year on year, from 2.3% in 2015 to 4.5% in 2016. As a percentage of total assets, SME loans grew from 2.5% to 3.5%.

GTBank has devoted substantial resources to SME work: 178 employees work exclusively on SMEs in Abuja, Lagos and the southeast of Nigeria.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree