An Evaluation of the Business and Financial Performance of Guaranty Trust Bank Plc (Gt Bank) from 1st March 2005 to 29th February 2008.
1.0 INTRODUCTION
1.1 THE TOPIC CHOSEN
My research is AN EVALUATION OF THE BUSINESS AND FINANCIAL PERFORMANCE OF GUARANTY TRUST BANK Plc (GT BANK) FROM 1ST MARCH 2005 TO 29TH FEBRUARY 2008. The banking landscape in Nigeria has changed tremendously since the Central Bank of Nigeria (CBN) compelled banks to raise their capital base to a minimum of N25 billion in July 2004. The re-capitalisation and consolidation exercise took effect on the 31st of December 2005.
1.1.1 THE CONTEXT OF THE TOPIC
The banking industry in Nigeria has witnessed a very rough and turbulent ride since its British colonial masters introduced banking to the country. For a very long time in the history of Nigeria, the industry was plagued with bad loans, inadequate capital, liquidity problems, low staff morale, lack of skilled and technical expertise, little or no infrastructure, fraud, distressed and failed banks, no corporate governance culture, lack of sound management and political instability.
The emergence of a democratically elected government on 29th of May 1999 ushered in a great measure of political stability in Nigeria. This enabled the government to embark upon the reform process that changed the Nigerian banking landscape. The Central Bank Governor, Dr. Charles Soludo, announced the 13-point reform process in July 2004.
This led to the re-capitalisation and consolidation of the banking sector. There was renewed interest in Nigeria from the international community as foreign direct investment was brought into a number of banks. This enabled the banks in turn to leverage and take advantage of the world’s major markets and financial centres, as a number of Nigerian banks established subsidiaries in various economies of the world, particularly the United Kingdom.
1.1.2 REASON FOR CHOOSING THE TOPIC
Before the re-capitalisation and consolidation exercise, the Nigerian banking industry was in total shambles. Only a few of the 89 banks were healthy to
1.1 THE TOPIC CHOSEN
My research is AN EVALUATION OF THE BUSINESS AND FINANCIAL PERFORMANCE OF GUARANTY TRUST BANK Plc (GT BANK) FROM 1ST MARCH 2005 TO 29TH FEBRUARY 2008. The banking landscape in Nigeria has changed tremendously since the Central Bank of Nigeria (CBN) compelled banks to raise their capital base to a minimum of N25 billion in July 2004. The re-capitalisation and consolidation exercise took effect on the 31st of December 2005.
1.1.1 THE CONTEXT OF THE TOPIC
The banking industry in Nigeria has witnessed a very rough and turbulent ride since its British colonial masters introduced banking to the country. For a very long time in the history of Nigeria, the industry was plagued with bad loans, inadequate capital, liquidity problems, low staff morale, lack of skilled and technical expertise, little or no infrastructure, fraud, distressed and failed banks, no corporate governance culture, lack of sound management and political instability.
The emergence of a democratically elected government on 29th of May 1999 ushered in a great measure of political stability in Nigeria. This enabled the government to embark upon the reform process that changed the Nigerian banking landscape. The Central Bank Governor, Dr. Charles Soludo, announced the 13-point reform process in July 2004.
This led to the re-capitalisation and consolidation of the banking sector. There was renewed interest in Nigeria from the international community as foreign direct investment was brought into a number of banks. This enabled the banks in turn to leverage and take advantage of the world’s major markets and financial centres, as a number of Nigerian banks established subsidiaries in various economies of the world, particularly the United Kingdom.
1.1.2 REASON FOR CHOOSING THE TOPIC
Before the re-capitalisation and consolidation exercise, the Nigerian banking industry was in total shambles. Only a few of the 89 banks were healthy to
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