GTCO raises alarm over false report on GTCO’s management, others

• GTCO has refuted what it called inaccurate news claims regarding its business operations, performance, and management
• It said that the fabricated news reports had no foundation and were the work of organisations looking to harm the financial institution
• GTCO Plc has acted quickly and forcefully in court against the many sources of this untrue information

Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.

The Guarantee Trust Company (GTCO) has dispelled what it called false news reports about its business activities, results and management.

The false news report was allegedly being sponsored using the media. Photo Credit: GTCO
Source: UGC

According to the statement issued, the false news articles were baseless and emanated from groups out to discredit the financial institution.

“The false news articles which are being sponsored using the media, center around baseless allegations against the Group’s business activities and its Executive Management.“Being a responsible corporate citizen and a first-class institution, GTCO Plc has taken swift and decisive legal actions against the various sources of these false reports and will continue to use the full extent of the rule of law available to safeguard its reputation.“We urge all our Customers, Shareholders and Stakeholders to kindly disregard all the allegations being peddled through various media platforms and handles. All of our Executive Management team continue to operate in their full capacities as appointed, and are not under any financial or regulatory scrutiny as alleged.”

Meanwhile, DailyTrust earlier reported that the website of GTBank was recently hacked.

The incident made the site inaccessible as some customers lamented on social media.

The incident happened after the domain name was renewed for another five years from August 13, 2024, through March 21, 2029, according to platforms that analyse domain information.

GTbank sets new banking record

Legit.ng reported that Guaranty Trust Holding Company Plc (GTCO), the parent company of Guaranty Trust Bank (GTBank), has recorded a profit after tax of N509.3 billion in the first quarter of 2024.

The amount is a 587.4% or six times increase when compared to N74 08 billion reported in the same period of 2023.

The profit recorded by GTBank is also the largest ever pre-tax profits in Nigerian banking history.

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Source: Legit.ng