GTB plc acquisition of 70% stake in Fina Bank Ltd

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Guaranty Trust Bank plc

Guaranty Trust Bank plc (GTBank) completes the acquisition of 70% stake in Fina Bank Limited Kenya with subsidiaries in Uganda and Rwanda

GTBank has completed the acquisition of a 70% stake in Fina Bank Kenya with subsidiaries in Uganda and Rwanda ("Fina Bank")

On July 18, 2013, GTBank and the shareholders of Fina Bank entered into a Share Sale and Purchase Agreement ("the Agreement") for the acquisition of 70% stake in Fina Bank. The Agreement was subject to customary regulatory approvals which have been obtained.

Sequel to the completion of the acquisition, Fina Bank Limited Kenya, Fina Bank Limited Rwanda and Fina Bank Limited Uganda will now be renamed and rebranded as subsidiaries of Guaranty Trust Bank plc.

Commenting on the announcement, the Management of Guaranty Trust Bank plc said the acquisition of Fina Bank is part of a structured expansion programme that will enable the Bank tap into the vast business opportunities that abide within the region.

Guaranty Trust Bank plc is a highly respected African Bank that has business operations in Cote D'Ivoire, Gambia, Ghana, Liberia, Nigeria, Sierra Leone and the United Kingdom.