GRTB.L Regulatory News (GRTB)

Guaranty Trust Bank plc

GTBank notifies Shareholders of Impending AGM

Confirms appointment of new Chairman of the Board

Lagos Nigeria - April 18, 2013: Guaranty Trust Bank plc has confirmed the date and venue for its 23rd Annual General Meeting at which the Bank's 2012 financial results will be presented to its Shareholders. The results which were approved earlier this month by the Central Bank of Nigeria and released to operators of the Nigerian Stock Exchange reported a Profit Before Tax of N103 billion, the highest for any Nigerian Bank.

According to information from the Bank, its 23rd Annual General Meeting would take place on Thursday April 25th, 2013 at Zinnia Hall, Eko Hotel and Suites, Lagos by 10:00am prompt. The Meeting's agenda would include receipt of the audited financial statement for 2012, declaration of dividend, and election of directors and members of the Bank's audit committee. Additionally, the new Chairman of the Board, Mr. Egbert Imomoh (CON) would be presented to Shareholders as replacement for incumbent Chairman, Mr. Oluwole Oduyemi, who is retiring from the Board in compliance with the Bank's code of corporate governance, which stipulates a retirement age of 70 years for Non-Executive Directors of the Bank.

Commenting on the development, Mr. Segun Agbaje, Chief Executive Officer of Guaranty Trust Bank plc, said the Bank maintains high corporate governance standards and has a defined succession strategy to address board and management vacancies. He confirmed that Mr. Oduyemi had attained the retirement age of 70 years and would be stepping down as a director at the forthcoming Annual General Meeting. According to Mr. Agbaje, the Bank had informed the Nigerian Stock Exchange and other regulators about the impending retirement.

Mr. Oduyemi was appointed as the 4th Chairman of the Board of Guaranty Trust Bank in 2010 and under his leadership the Bank went on to further cement its position as one of the most profitable, best run and ethical financial institutions in Nigeria.

When questioned about the outgoing chairman's replacement, Mr. Agbaje confirmed that the Bank had notified regulators of the appointment of Mr. Egbert Imomoh (CON) as the 5th Chairman of the Board of Guaranty Trust Bank plc. He further attested that Mr. Egbert Imomoh joined the Bank's Board in June 2005 and is a highly accomplished and regarded professional in the Petroleum and Exploration industry both locally and internationally, with immense experience. Prior to Mr. Imomoh's appointment as Chairman, he served as Chairman of the Board Risk Management Committee and Chairman of the Board Remuneration Committee.

Guaranty Trust Bank plc was established in 1990 and is regarded by Industry watchers as the best run and most ethical financial institution within the Nigerian Financial Services space, due to its bias for world class corporate governance standards, excellent service quality and innovation. The Bank is one of the few Nigerian financial institutions to have a well articulated succession plan and this has enabled it seamlessly undertake two management and several board changes since its inception 23 years ago.

The Bank operates from over 200 branches within the country and has banking subsidiaries in Cote D'Ivoire, Gambia, Ghana, Liberia, Sierra Leone and the United Kingdom.

In recognition of it service standards, management quality and financial performance, the Bank has been the recipient of numerous awards over the years that most recently include the Best Bank in Nigeria Award for the fourth consecutive year from Euromoney Magazine and the Best Bank in Nigeria Award from EMEA Finance. Mr Segun Agbaje, the Bank's Chief Executive Officer was also lately recognized as 2012 African Banker of the Year