GTBank Sierra Leone

What GTBank Sierra Leone does

GTBank Sierra Leone (legal name: Guaranty Trust Bank (Sierra Leone) Limited) is a commercial bank headquartered at 12 Wilberforce Street, Freetown, Sierra Leone. It commenced operations in January 2002 following the acquisition of 90% of First Merchant Bank of Sierra Leone by Nigeria's Guaranty Trust Bank PLC (now part of Guaranty Trust Holding Company (GTCO) PLC). The bank operates as a private subsidiary of the publicly listed GTCO group, which has an asset base exceeding N3.11 trillion and a presence across 10+ African countries plus the UK. After 13 years of operations, GTBank Sierra Leone reached third-largest bank status in Sierra Leone by performance indices and is described as the fastest growing bank in the country.

The bank operates a platform-plus-modules architecture. Its core retail and corporate digital channels include Internet Banking, GTWorld mobile banking, USSD codes (*878# and *9737#) for feature phones, an ATM network, POS terminals, and the 24/7 GTConnect telephone self-service center. Enterprise customers are served through three proprietary platforms: GAPS (GTBank Automated Payment System) for corporate batch payments with multi-level authorization and two-factor authentication; GTPay, an internet payment gateway accepting Mastercard, Visa, and Interswitch; and GTCollections, an e-collection platform with multi-currency support. Cards include Mastercard debit, corporate credit (up to 45 days interest-free), and prepaid variants. International reach is supported by SWIFT, RTGS, EFT, and M-Pesa integrations.

The revenue model is a diversified banking revenue mix: net interest income from lending (personal loans, business loans, asset financing, overdrafts, mortgages), transaction and service fees (account maintenance, ATM, EFT/RTGS, SWIFT, cheque processing), trade finance commissions (Letters of Credit, Documentary Collections, Bank Guarantees, LPO/LSO Financing), foreign exchange revenue, and corporate banking service fees. Distribution is hybrid, combining physical branches and ATMs with self-serve digital rails; the GTM is dual-motion, with relationship managers dedicated to corporate, commercial, and SME segments and direct-to-consumer digital onboarding for retail. Customer segments span individuals/retail, high-net-worth private banking (GTAbsolute), SMEs, government and parastatals, NGOs/charities (Free 'N' Go), and enterprises in telecommunications, petroleum, mining, and import/trade sectors. As of May 2025, Daniel Attah serves as Managing Director/CEO following his appointment with Central Bank of Sierra Leone approval.

Name

GTBank Sierra Leone

Legal name

Guaranty Trust Bank (Sierra Leone) Limited

Website

https://gtb.sl

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

11–50 employees

Short description

GTBank Sierra Leone is a commercial bank in Freetown, the third largest in the country and a subsidiary of Nigeria's Guaranty Trust Holding Company. It serves retail, SME, corporate, government, and NGO customers through branches, ATMs, mobile/internet/USSD banking, and proprietary platforms (GAPS, GTPay, GTCollections).

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022), National Commercial Banks (6021), Commercial Banks, Nec (6029)

akta.pro primary industry

General SME & Middle-Market Commercial Banking (FSABABAA)

akta.pro secondary industries

SME Trade Finance & Working Capital (LCs, Guarantees, Receivables) (FSABABAF), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC), SME Business Lending (Term Loans, Lines of Credit, Overdrafts) (FSABABAB)

Keywords

• Retail banking services
• Corporate banking solutions
• Digital payment platforms
• Trade finance services
• Commercial lending

Headquarters

HQ city

Freetown, Western Area

HQ country

Sierra Leone

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Interest Income: Revenue generated from lending activities including personal loans, business loans, asset financing, overdraft facilities, and mortgage products. Interest is earned on term loans, overdrafts, and credit facilities provided to corporate and retail customers.
2. Transaction and Service Fees: Fees from account maintenance, ATM withdrawals, inter-bank transfers (EFT/RTGS), SWIFT transfers, cheque processing, and digital banking transactions. Includes monthly service charges and per-transaction fees across various channels.
3. Trade Finance Commission: Commission income from Letters of Credit, Documentary Collections, Bank Guarantees, Bill Avalisation, LPO/LSO Financing, Supply Chain Financing, and FX Forward Contracts for import/export transactions.
4. Foreign Exchange Revenue: Revenue from currency exchange services, forex trading, and commission on international transactions including Telegraphic Transfers and foreign currency conversions.
5. Corporate Banking Services: Fees from corporate account management, loan syndication, funds & portfolio management, money market instruments, treasury bills & bonds services for business customers.
6. Card Services: Revenue from debit card issuance (SLE 92 per card), credit card annual fees, and transaction fees on card payments at POS and ATMs.

Pricing tiers

Go-to-market motion2 records

Distribution channels9 records

Marketing channels7 records

Core offering

GTBank Sierra Leone operates as a commercial bank in Sierra Leone, providing retail, corporate, commercial, and SME banking services. The bank delivers these services through a network of branches and ATMs alongside a suite of proprietary digital banking platforms including GAPS, GTPay, GTCollections, GTWorld, USSD, and Internet Banking. It commenced operations in January 2002 following the acquisition of First Merchant Bank of Sierra Leone.

Product overview

GTBank Sierra Leone operates as a comprehensive financial services institution offering a platform-plus-modules architecture. The core digital banking platform includes Internet Banking, Mobile Banking, USSD, and ATM services, while specialized business solutions encompass GAPS (batch payment processing), GTPay (payment gateway), and GTCollections (e-collection platform). The product portfolio spans personal current and savings accounts (GTVantage, Pay-As-You-Go, GTSave, GTTarget), business accounts (GTBusiness Chequer, GTBank Free 'N' Go), and premium private banking (GTAbsolute, tailored products). Payment capabilities are delivered through Mastercard and Visa card products including debit, corporate credit, and prepaid cards. Trade finance services, treasury operations, and asset financing round out the commercial offerings, with GTConnect providing 24/7 telephone banking support. The bank integrates with global payment networks (SWIFT, M-Pesa, RTGS, EFT) to enable local and international transactions.

Differentiator

Problem solved

Functional benefit

Brands

• GTSAVE: Savings account product - Your Early Start to saving
• GTVantage
• GTBusiness Chequer
• GTBank Free N Go
• GAPS
• GTPay
• GTCollections
• GTAbsolute
• GTCONNECT
• GTTarget
• GTWorld
• Myghpay

Products and services

• Retail Banking

Quantifiable outcome

• Third largest bank in Sierra Leone after 13 years of operations, fastest growing bank in the country
• +2 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

One partnership is on record.

• Guaranty Trust Holding Company (GTCO) PLCcoreStrategic or Co-development Partner · 1 January 1990GTBank Sierra Leone is a subsidiary of Guaranty Trust Holding Company (GTCO) PLC. The parent company is a foremost Nigerian financial institution with operations spanning Anglophone and Francophone West Africa, East Africa and Europe. GTCO provides strategic direction, technology platforms, and brand identity to subsidiaries including GTBank Sierra Leone.

Scale indicators9 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• First Bank of Sierra Leone: Sierra Leone subsidiary of First Bank of Nigeria (FBN). Direct peer to GTBank SL with similar Nigerian-affiliated structure, full-service commercial banking, and target customer segments.
• International Bank of Sierra Leone: Indigenous commercial bank in Sierra Leone serving retail, SME, and corporate clients. Comparable to GTBank SL in domestic product scope and customer segments.
• Rokel Commercial Bank: Indigenous Sierra Leonean commercial bank providing retail, SME, and corporate banking. Competes head-to-head with GTBank SL in the domestic market for deposits, lending, and trade finance.
• Ecobank Sierra Leone: Subsidiary of pan-African Ecobank Group offering similar full-service commercial banking in Sierra Leone. Directly comparable in product breadth, target segments, and parent-group backing.
• Sierra Leone Commercial Bank: State-owned incumbent commercial bank in Sierra Leone offering retail, corporate, and government banking services. Most direct peer to GTBank SL given shared domestic market and similar full-service commercial banking scope.
• Zenith Bank Sierra Leone: Sierra Leone subsidiary of Zenith Bank PLC Nigeria. Competes in the same Nigerian-affiliated bank space as GTBank SL, with comparable product set and target customer segments.
• Guaranty Trust Bank (Gambia): Fellow subsidiary of GTCO Group operating in Gambia. Closest comparable to GTBank SL given shared brand, technology platforms (GAPS, GTPay), and operating model — provides a direct benchmarking reference.
• United Bank for Africa (Sierra Leone): Sierra Leone subsidiary of UBA Group, another pan-African banking major. Closely comparable to GTBank SL in operating model, technology-led positioning, and reliance on a strong foreign parent group.
• Access Bank Sierra Leone: Sierra Leone subsidiary of Access Holdings, a leading Nigerian banking group. Competes directly with GTBank SL on retail, SME, and corporate banking using a similar group-backed platform model.

Broad incumbents

• Standard Chartered Bank Sierra Leone: Global international bank with Sierra Leone franchise focused on corporate, trade finance, and HNW segments. Comparable to GTBank SL in trade finance and FX capabilities, but with broader global parent resources and a narrower domestic retail footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/gtbank-sierra-leone

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about GTBank Sierra Leone