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Nigeria’s Guaranty Trust Bank Plans Kenyan Acquisition

  • Planning to grow loans to customers by 10% this year
  • Sees African units contributing 30% of profit by 2024

Photographer: Issouf Sanogo/AFP/Getty Images

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Guaranty Trust Bank Plc, Nigeria’s biggest lender by market value, plans to acquire a Kenyan lender as part of its expansion on the continent, according to the managing director.

“I think the place we will still like to do business or do an acquisition is Kenya,” Segun Agbaje, the lender’s chief executive said at an investor call in Lagos, without giving a time-line for the acquisition.