GTBank is one of the fastest-rising banks in Nigeria due to the high standards the bank has set. a lot of Nigerians such as students have adopted the banking
The bank is widely used by students in Nigerian high institutions. Some of the students regard the bank as the student bank because they usually use the bank for paying their tuition fees and performing other transactions.
Over the years, the number of people using the bank has massively increased. This was one of the reasons why the bank needed to increase its digital loan service in other to reach more customers.
The demand for digital loans in the country is on the rise and it keeps increasing every day. The need to make this accessible by the bank is one of their goals. The competition among various banks is another thing, but we’re not going to talk about that today.
A publication by vanguard shows that, in the year 2021, GTbank recorded a slow growth in digital loans which is one of the major reasons why the bank needed to expand its loan book service to about N180 billion, or a 10% growth rate in the current financial year.
The loans the bank has given out around 2021, are closing at N1.8 trillion as of 2021, compared to the N1.66 trillion in the year 2020. About 8.0 percent which was regarded as slow compared to the 10.7 percent growth that was recorded by the bank during the pandemic period of Covid-19 dominated period of 2020.
According To Tauraruwaa. The managing director of GTBank holding company plc, GTCO, in the person of Mr. Segun Agbaje, spoke to one of the financial media in Nigeria stating the major reason why the bank was constrained from giving out digital loans to its customers around 2021. He made mentioned two major reasons for these constrain and why the loans were not being issued to customers.
These reasons are macro-economic headwinds and regulatory restrictions. In his speech, he believes that the bank would have made more money from its digital loans to compensate for the general decline in interest margins in the industry during the period if not for the challenges and the predicaments.
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Before we dive into how you can secure a digital loan from GTBank, let us look at some important things about GTbank.
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GTBank Loan/Company Profile
GTCO PLC is one of the best multinational bank and financial service groups in Nigeria. GTBAnk is known for its high standard of services being offered such as retail and investment banking, pension management, asset management, and payments services.
The bank was later reorganized into a Holding company around July 2021. This new development gave room for more services by the bank beyond just banking.
Under the formal structure of the bank, the bank could not run a non-lending business because of a policy regulation by the Nigeria apex bank (Central Bank Of Nigeria) in 2010. This policy hindered the bank from operating non-banking subsidiaries.
They either had to divest from non-core lending services or restructure as a holdings company.
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What Is GTBank Loan
GTBank Loan is a digital product being offered by GTBank that allows customers to have access to digital loans for their business or personal use.
The Bank Loan being offered by GTBank is to ensure that you get security and access to finance whenever there is a need for an urgent loan. With this loan, you can execute any project of your choice.
Types Of GTBank Loans
Below are the loan products available at GTbank. Simply make sure you meet the eligibility criteria before applying for any of these loans
- GT Salary Advance Loan
- GTBank School Fees Advance Loan
- Quick Credit
- Max Advance Loan
- Max Plus Loan
- Computer Advance Loan
- GT Mortgage Loan
- Premium Advance Loan
- Travel Advance Loan
- Vehicle Insurance Premium Financing Loan
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How To Pay GTbank Loans
Applying for a loan from GTBank is easy and straightforward. Visit the GTBank official website by clicking on this link https://www.gtbank.com/personal-banking/loans and apply for any loan of your choice.
How To Contact GTBank
Just in case you are having any difficulties with how to get your loan processed, you can contact GTBank Using their helplines below. With these numbers, you can get assistance with any credit facility you are trying to access.
+234 700 4826 66328
+234 1 448 0000
Conclusion
To get more knowledge on GTBank Loans and how to apply for any of GTBank Loans. Visit the official website of GTBank to find out more.
I believe you now understand what GTBank Loans is and how to apply for any of those loans.
If you have any questions or inquiries, you can drop them in the comment section. We’ll try and respond to them as fast as we can.
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