CHAPTER ONE

• Introduction

Human Resource is a management approach that is aimed at understanding how psychological and social process interacts with the work situation to influence performance. Human relations are the first major approach to emphasize information work relationship and work satisfaction.

As global workplace becomes a reality, companies, both large and small require human resource. The oppressive nature or informal, email and mobile phone now ensures that a manager is continually fed with information. However, these are still no more than supporting tools in business life, helping to maintain good relationship created at more personal level. The reality is that successful businesses in the 21st Century are still built around relationship founded on face to face meeting with customers, suppliers and employees.

For many, it is when they look at faces, before they know whether they should sign a deal, promote or take decision.

An organization is said to be a social system, where there is an interpersonal or inter-group, interaction aimed at increasing effectiveness at attaining organizational goals. Though these interactions may involve personal affairs, to a large extent, the interaction is related to the role expectations in group or in position occupied by sole occupant.

1.2   Background of GTB

Sincerely, Guaranty Trust Bank Plc was incorporated in July 1990, as a private limited liability company, wholly owned by Nigerian individuals and institutions. The bank was licensed as a commercial bank in August of the same year and commenced operations in February, 1991.

In September 1996, Guaranty Trust bank became a public quoted company, winning the prestigious president’s award in its first year on the stock exchange, and again in the year 2000. and 2003. Guaranty Trust Bank Plc held its public offer in 2001. This was over subscribed by 1.17% and is a testimony to the Bank’s viability as a profitable investment.

The Bank has over the years been committed to awarding excellent cash returns on shareholder investment, remaining one of the existing institutions in Nigeria that pays both interim and final divided each financial year.

Guaranty Trust Bank Plc obtained a Universal banking license in February 2002. The Bank’s reputation as an excellent financial service provider and its financial capacity to meet obligations as and when they fall due has led to a consistent appreciation of its risk asset rating. This currently stands at Tripple A, the highest rating on the Agusto & Co. Limited rating scale.

The Bank is today recognized as one of the most professional and profitably run banks in Nigeria. From a start-up capital of 25 million in 1991, the Banks shareholders funds have grown to over 11.7 billion, with an asset based over 160 billion. Annual revenues of 18 billion

Guaranty Trust bank started based on three fundamental aspirations:

• Exceptional customer service
• Excellence and superior financial returns
• Creating role model for society.

Values

• Learning organization
• Professionalism and service excellence
• Commitment to excellence financial returns
• Unique culture

Other Subsidiaries

1. Guaranty Trust Bank Gambia Ltd with 78% shareholding
2. Guaranty Trust Bank Sierra Leone Ltd with 87% shareholding
3. Guaranty Trust Bank Ghana Ltd with 78% shareholding
4. Guaranty Trust Assurance with 94% shareholding
5. GTB Register Ltd with 99% shareholding.

Ownership Structure

The shareholding structure of GTBank is spread amongst a group of corporate and individual investors who possess complimentary strength totally committed to the long term corporate vision of the bank to become a role model in the banking industries, such as one of Nigeria’s largest and most profitable bank and as a well respected west African (WA) financial service player.

Shareholders fund of N39 billion ($300 million) and market capitalization in excess of N149 billion ($1.17 billion) balance sheet size N493 billion ($ 3.79 billion).

Operating Structure

GTBank has over 100 business locations in Nigeria with 6 regions across the country, namely.

• North West
• South West
• South East
• North East
• Abuja North Central
• Lagos

Each region is headed by a Regional Manager who act as the CEO of the region.

Banking Services

GTBank provides a full range banking services, which include personal and corporate savings, account fund transfer, foreign exchange services, loans and advances, treasury functions and deposit, issuance of advance payment services, guarantees and performance bonds, collection services and correspondent banking services. The bank is fully equipped with latest technology in all its branches and it operates online services.