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Nigeria : GUARANTY BANK brings in new banking service at Forte Oil locations

July 31, 2014

As per the report, Guaranty Trust Bank plc declared about setting up a broad agent-banking service at Forte Oil locations as part of its efforts at bringing banking services closer to its existing and potential customers, globally.

The bank has deployed in 14 Forte Oil locations nationwide.

As per the Managing Director of Guaranty Trust Bank, Segun Agbaje, the inaugural focuses on reaching the underserved and unbanked sectors of the population in a cost efficient manner with utilization of non-banking retail outlets.

"The unbanked sector of the economy presents a significant growth area for banks in emerging markets. Our objective is to offer banking products and services to this segment via non-banking outlets thus breaking down barriers to financial inclusion such as accessibility and cost.

"This is a great step in achieving a more inclusive financial services industry," he said.

Akin Akinfemiwa, Group Chief Executive Officer of Forte Oil, welcomed the partnership, "We are pleased with the GTBank partnership as it reinforces our vision of being a one stop shop whilst affirming the wide reach of our retail network,"With this alliance our customers who patronize GTB Plc will be able to reduce commuting time and cost in attending to their various needs."

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Source: TendersInfo (India)

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