Guaranty Trust Bank (GTBank), a subsidiary of Guaranty Trust Holding Company (GTCO) lost N35.55 billion in failed securities investments in Ghana for the financial period of 2022, Ripples Nigeria has learnt.

GTBank had invested in several securities offered by the Ghanaian government; Treasury bills, Eurobonds, Local US bonds and Cedis bonds.

According to the company’s financial reports released on April 14, the investments were made through GTBank Nigeria and its subsidiaries, GTBank Sierra Leone, GTBank Liberia, and GTBank Rwanda.

About N167.55 billion was held by GTBank in these investment instruments for profits, however, the financial institution recorded losses in every debt security investment.

According to the breakdown of the investments in the debt securities, GTBank had a total investment value of N34.71 billion in Treasury bills, but at the end of the year (2022), it lost N986.88 million, leaving the firm with... https://www.ripplesnigeria.com/gtbank-loses-n35-55bn-in-failed-treasury-bills-bonds-investments/

hmm

Gargantuan gbege for GT bank.

Make dem sha no increase their bank charges oh..

Treasury bills dey fail? What sort of country is that?

Acidosis:

Treasury bills dey fail? What sort of country is that?

How the Bleep can a Treasury Bill investment come out negative. Hmmm. Even heaven self no dey safe 9 b that

Treasury bills are zero risk investments na
Nawa o
Seems the Ghanaian government backing is worthless